Gunner_Mania Posted August 30, 2010 Posted August 30, 2010 As I said in the topic, we have so many race courses in different cities in India and betting on them is legal, so why is betting on any other sporting event illegal in our country?
kabira Posted August 30, 2010 Posted August 30, 2010 It should be legalized for all sports. Government can make lot of money thru taxes and regulation. I was hoping they would do that, but instead they started to tax 10% more on house purpose F^8cking C&nts
yoda Posted August 30, 2010 Posted August 30, 2010 What is so great about betting? Most people end up losing. The house normally wins. Yes horse race betting has historically been there, doesn't mean that all betting needs to be made legal. Having less betting options probably saves many families from coming to the road.
Ram Posted August 30, 2010 Posted August 30, 2010 I presume its for the same reason as to why lotteries are illegal as well – It is the poorer sections who end up losing the most money. Horse racing is still considered elitist and you wouldn’t find too many slum dwellers in a race course, placing a wager on their favorite horses. In India, whether something is legal or illegal doesn’t depend on the whether its immoral or moral, but whether certain sections are impacted by it or not.
Gunner_Mania Posted August 30, 2010 Author Posted August 30, 2010 I presume its for the same reason as to why lotteries are illegal as well – It is the poorer sections who end up losing the most money. Horse racing is still considered elitist and you wouldn’t find too many slum dwellers in a race course, placing a wager on their favorite horses. In India, whether something is legal or illegal doesn’t depend on the whether its immoral or moral, but whether certain sections are impacted by it or not. Lotteries are illegal in Tamilnadu and a few other states I think, not across India. As for only rich people beting on horses that is not true, I've seen plenty of not so rich looking people on the footsteps of the Guindy railway station going through their little books and news papers on which horses to bet on for the day.
Ram Posted August 30, 2010 Posted August 30, 2010 What is so great about betting? Most people end up losing. The house normally wins. Yes horse race betting has historically been there, doesn't mean that all betting needs to be made legal. Having less betting options probably saves many families from coming to the road. The same ‘ol ‘if it weren’t there, they would never do it..’, which is absolutely not true at all. History has repeatedly shown that when people are denied something they absolutely crave, their wont for it only increases and they resort to illegal methods to attain it. Prohibition didn’t stop alcohol consumption in the United States, nor does a ban on Marijuana prevent people from doing it. Even in T.N, the whole experiment with trying to reduce alcohol consumption failed miserably, with 1000s dying from consuming illicit arrack. And then, they introduced TASMAC and alcohol related deaths have fallen considerably.
Ram Posted August 30, 2010 Posted August 30, 2010 Lotteries are illegal in Tamilnadu and a few other states I think' date=' not across India. As for only rich people beting on horses that is not true, I've seen plenty of not so rich looking people on the footsteps of the Guindy railway station going through their little books and news papers on which horses to bet on for the day.[/quote'] I have little idea too, Annatha.. I was just taking my best guess as well. Maybe the big corporate houses that generally sponsor and conduct these horse races have bribed successive administrations into not outlawing it. Correct me If I am wrong, but the horse races in Guindy are quite prestigious aren’t they?
kabira Posted August 30, 2010 Posted August 30, 2010 What is so great about betting? Most people end up losing. The house normally wins. Yes horse race betting has historically been there, doesn't mean that all betting needs to be made legal. Having less betting options probably saves many families from coming to the road. How would it save families? Those who want to get involved. They get involved irrespective of it being legal or illegal. When its illegal govt. cannnot regulate it. But make it regulate, tax them, regulate them. Isn't Stock Market sort of betting/gambing too??
yoda Posted August 30, 2010 Posted August 30, 2010 How would it save families? Those who want to get involved. They get involved irrespective of it being legal or illegal. When its illegal govt. cannnot regulate it. But make it regulate, tax them, regulate them. You saying people will do something whether it is illegal or not? Don't think so. Some ofc will always get involved. Once it is legalized, those who would otherwise not be tempted might want to get a try, especially when things get desperate financially and betting can only push them even worse. Isn't Stock Market sort of betting/gambing too?? No it is not. While short term speculation can be considered close to betting, diversified long term investing is not. Losses can be limited with stop loss, you can hedge your positions and you can diversify across instruments. Also, the stock market is an essential part of the capitalistic society we all live in with equity partnership from individual investors. Don't think buying stock in Reliance can be compared with betting on an India vs SL ODI game.
jusarrived Posted August 31, 2010 Posted August 31, 2010 You saying people will do something whether it is illegal or not? Don't think so. Some ofc will always get involved. Once it is legalized, those who would otherwise not be tempted might want to get a try, especially when things get desperate financially and betting can only push them even worse. No it is not. While short term speculation can be considered close to betting, diversified long term investing is not. Losses can be limited with stop loss, you can hedge your positions and you can diversify across instruments. Also, the stock market is an essential part of the capitalistic society we all live in with equity partnership from individual investors. Don't think buying stock in Reliance can be compared with betting on an India vs SL ODI game. derivatives & intra day are not very different from buying a lottery . Though I agree you cant equate betting with stock market in general .
Guest Shivani Posted September 3, 2010 Posted September 3, 2010 Let us please appreciate the thin line of difference between something being "legal" and something being "not prohibited".. horse racing isn't a legal activity.. it is just not prohibited by law which doesn't mean it has achieved legal status.. its just like the Delhi HC decriminalizing 'homosexuality' but not legalizing it.. whereas the SC's (weird) decision to treat a live-in-relationship equivalent to marriage is like giving legal recognition to this trend.. even teen patti isn't prohibited by law yet it isn't legal.. in such forms of betting or gambling there is no question of rights and liabilities .. or may only liabilities but definitely not rights..
Gunner_Mania Posted September 3, 2010 Author Posted September 3, 2010 ^ and here I was, thinking all you did on this forum was troal:)
Guest Shivani Posted September 3, 2010 Posted September 3, 2010 ^ and here I was' date=' thinking all you did on this forum was troal:)[/quote'] GMMMMMMM :hitler:
kabira Posted September 3, 2010 Posted September 3, 2010 You saying people will do something whether it is illegal or not? Don't think so. Some ofc will always get involved. Once it is legalized, those who would otherwise not be tempted might want to get a try, especially when things get desperate financially and betting can only push them even worse. No it is not. While short term speculation can be considered close to betting, diversified long term investing is not. Losses can be limited with stop loss, you can hedge your positions and you can diversify across instruments. Also, the stock market is an essential part of the capitalistic society we all live in with equity partnership from individual investors. Don't think buying stock in Reliance can be compared with betting on an India vs SL ODI game. There is already betting going on it. and millions of ppl bet on it. They know its illegal. There is Matka, lotteries etc going on rampantly. When I meant Stocks as beting, I mean intra day and short term.
yoda Posted September 3, 2010 Posted September 3, 2010 There is already betting going on it. and millions of ppl bet on it. They know its illegal. There is Matka, lotteries etc going on rampantly. When I meant Stocks as beting, I mean intra day and short term. While some may do intra day/short term like gambling, even that is very technical. There are courses which teach you technical analysis. The markets do have a structure, even during the day, at least here in the US. Not sure about Indian stock markets and the manipulation there. I am sure you can look at the stats etc and place informed bets on sporting events, but it is really not a good comparison - the markets and betting.
Gunner_Mania Posted September 3, 2010 Author Posted September 3, 2010 Here in the UK there is actually legal betting allowed on the financial markets. You have 5 minutes bet on what the FTSE/Dow Jones Index will be in 5 mins and there will be a count down timer :cantstop:
Guest Shivani Posted September 3, 2010 Posted September 3, 2010 Isn't Stock Market sort of betting/gambing too?? No.. whether an activity is gambling/betting or not depends to a substantial degree upon the exercise of skill in achieving success out of the final outcome of the event.. Stock Markets aren't betting/gambling prima facie but are of the "nature" of betting/gambling IMO
yoda Posted September 3, 2010 Posted September 3, 2010 Here in the UK there is actually legal betting allowed on the financial markets. You have 5 minutes bet on what the FTSE/Dow Jones Index will be in 5 mins and there will be a count down timer :cantstop: now that's gambling. :hysterical:
Guest Shivani Posted September 5, 2010 Posted September 5, 2010 oye No troaling here :mad: :hitler: :(( ok sorry
ludhianvi Posted September 5, 2010 Posted September 5, 2010 Let us please appreciate the thin line of difference between something being "legal" and something being "not prohibited".. horse racing isn't a legal activity.. it is just not prohibited by law which doesn't mean it has achieved legal status.. its just like the Delhi HC decriminalizing 'homosexuality' but not legalizing it.. whereas the SC's (weird) decision to treat a live-in-relationship equivalent to marriage is like giving legal recognition to this trend.. even teen patti isn't prohibited by law yet it isn't legal.. in such forms of betting or gambling there is no question of rights and liabilities .. or may only liabilities but definitely not rights.. No.. whether an activity is gambling/betting or not depends to a substantial degree upon the exercise of skill in achieving success out of the final outcome of the event.. Stock Markets aren't betting/gambling prima facie but are of the "nature" of betting/gambling IMO Jai Shivani! Kudos!! You should post more often when you get the time :two_thumbs_up:
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