Betfair stops accepting Indian business

Betfair has stopped accepting players from India effective 28th January, 2019, G.Laws reports.

In an email sent to its Indian users, the online company further asked users to manage any open positions and withdraw any funds in advance of 28th January.

Betfair in its communique to users did not specify the reasons as to why it was suddenly ceasing all India operations.

Currently, the Betfair.com website when accessed from India does not allow bets to be placed and gives the following message on its homepage: "Our Software detects that you may be accessing the Betfair website from a country that Betfair does not accept bets from. If you believe that this detection has occurred in error, please Contact us for further assistance."

In November 2018, the All India Gaming Federation (AIGF), wrote a letter to Prime Minister Narendra Modi stating that several offshore betting websites, including Betfair, are illegally accepting players and deposits from India in contravention of the Foreign Exchange Management Act, Prevention of Money Laundering Act and other laws.

AIGF would like to see online gambling and sports betting legalized in India.

 

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