Chase for Diwali luck could see bets worth Rs 10,000 crore

The hip and happening are spinning the wheel, placing bets and holding their cards with gusto amidst Diwali festivities. Estimates suggest bets worth Rs 10,000 crore could be placed this festive season. From backroom casinos in farmhouses and hotel rooms to flying to Macau, Indians are finding new ways to try their luck.

First things first, gambling in India is banned, except for some categories such as lotteries and horse racing. Only Goa, Daman and Sikkim have allowed casinos, which generated around Rs 700 crore in revenues for the three states in 2015. According to official estimates, casinos in Goa contributed more than Rs 300 crore to the state revenue last year.

 

But the gamblers find ways to bet, particularly on Diwali, which is considered ‘auspicious’ by many. Most common form of betting on Diwali is card games, where the ‘pot’ can be anywhere between a few hundred rupees and several lakhs.

According to industry body Assocham, in cities such as Delhi, Mumbai and other metros, the tradition of gambling on Diwali night has been quite popular, especially among the upper-middle class and the business community.

“Card playing on Diwali has become a tradition just like mahurat trading in stock market. As per rough estimates, Diwali night could see gambling of Rs 10,000 crore,” said D S Rawat, secretary general, Assocham.

While police mostly look the other way on small private card games, teams are always on the prowl for major gambling rackets. A few days back, Delhi Police busted a ‘casino’ set up for Diwali at a posh south Delhi farmhouse where investigators seized roulette machine, gambling tables, casino token and card decks procured from China, Hong Kong and Nepal.

The entry fee for the game was Rs 5 lakh and trained casino operators from Nepal were brought in to run the show.

“Farmhouses and hotel rooms are the most sought after places to run clandestine card games during Diwali. There are no-limits tables where bets worth lakhs are placed. This Diwali, we have seen a rise in the number of such no-limits tables,” said a senior Delhi Police official.

However, there are others who simply head to Goa or international destinations such as Macau during this period. According to experts, the number of people going to Macau around Diwali has doubled in the past couple of years. “We do have people going to Goa and Macau during this time of the year. Though these are mostly family trips, these destinations are also known for their casinos. This is something we have seen rise over the last few years,” Sharat Dhall, president, Yatra.com said.