Editorial
Written By:
Editorial
About Author
LegalBet India's editorial team is made up of industry professionals that can guide you on the best betting sites in India.
Last Update
4 months ago
Last update:

Betway Ceases All Operations in India: Alternatives for Indians

Cover image for post Did Betway Withdraw from the Indian Market?
Did Betway Withdraw from the Indian Market?
Betway Ceases All Operations in India: Alternatives for Indians

On 1 October 2023, Betway informed its Indian customers that they had ‘regrettably elected to cease trading operations in India.’ This move comes in light of the government’s announcement of a 28% tax on the total face value of casino games, horse racing, and other online games.

So when you visit the Betway India site, you now get a message saying, ‘ Dear Betway customers. We regrettably have elected to cease trading in your region.

We will work with you to return any outstanding balances. If you have an account you would like to discuss, please contact us at enquiries@betway.com and include your username.’

Indian Accounts Restricted on Betway
Indian Accounts Restricted on Betway

Betway’s withdrawal from the Indian market is similar to Bet365’s withdrawal in August. However, there is one stark difference.

Bet365 allowed users time to withdraw their balances using any accepted withdrawal modes.

Plus, you could sign in, browse the site like a regular user, and even contact the support chat for queries about withdrawals.

You could not place bets.

On the other hand, you cannot log in to your Betway account to view your past bets and current balance or talk to the support team.

The best you can do is email them at enquiries@betway.com (along with your username), asking about your balance and how to claim it.

I have emailed the Betway team asking for details on the balance withdrawal for my account and haven’t heard back from them yet.

Once I hear back, I’ll update this post with the exact steps, the time a reply can take, etc.

In the meantime, there are plenty of other reliable and trusted betting sites still available.

All the below sites have been tried and tested by experts at LegalBet India.

Hence, I can tell you they offer:

  • Easy, safe deposit and withdrawal modes like UPI
  • Amazing bonuses
  • Good customer support, etc.

Tried and Tested Betway Alternatives

Possible Reasons for Betway Withdrawal

Betway’s withdrawal seems to be why we saw Bet365 withdraw from India.

While the changing laws would have impacted their decision somewhat, the new tax rules have been the hammer blow.

Let’s take a more detailed look at these changes.

New Amendments

In April 2023, the Indian government announced amendments to the Information and Technology Act 2000.

As per the new rules, Self-Regulatory Bodies or SRBs would regulate the online gaming sector.

Only platforms and games approved by the SRBs would be allowed to operate legally in India.

However, any platform that supports wagering on outcomes would not be eligible for approval.

And since Betway allows betting on the outcome, it would not get SRB approval.

However, Betway and other sportsbooks continued to operate because of some ambiguities in the law.

For example, was betting on the outcome the only issue? What about betting on horse racing that has been declared a game of skill by the Indian Supreme Court?

Furthermore, the laws do not fine or punish the users or the sportsbooks.

Online betting is only a punishable offence in Telangana, Andhra Pradesh, and Tamil Nadu.

Plus, SRB formation is still months away.

The scenario changed on 1 October 2023 as the new GST rules were now applicable.

There’s a chance Betway waited till the last moment to see if there would be any changes in the laws.

New Tax Rules

In July, the government announced that casinos, horse racing clubs, and online gaming platforms would now have to pay a 28% tax on the total value of player deposits.

Since this directly impacts their profits, there’s a chance Betway does not find it feasible to operate in India anymore.

Betway is the second sportsbook to withdraw since the announcement of the tax rules.

And whether more sportsbooks decide the same is yet to be seen.

FAQs

Comment

Your email address will not be published. Required fields are marked *

Compare Betting Sites

Select a max. of 3 sites

compare