A significant controversy surrounds the Board of Cricket Control in India (BCCI) over its recent decision regarding advertising regulations. BCCI has enforced a strict ban on advertisements related to tobacco, alcohol, and cryptocurrencies for this season’s IPL broadcast. This decision aligns with an advisory issued by the Union Health Ministry, which expressed concerns about celebrity endorsements of harmful substances. However, the inclusion of cryptocurrency in this ban has raised eyebrows, particularly among the Indian crypto community.
Interestingly, while crypto advertisements are banned, Dream11—an Indian fantasy cricket platform classified as a betting application—is the official sponsor of the Indian cricket team. The Supreme Court of India has ruled Dream11 as a “skill-based game” rather than gambling, allowing the company to secure legal standing and continue its association with Indian cricket. Dream11 has paid Rs 358 crore ($41.44 million) to BCCI under a contract that runs from July 2023 to March 2026.
The decision to allow Dream11 while banning cryptocurrency ads has led to accusations of hypocrisy against BCCI. Many argue that if both industries are taxed at 30%—as gambling platforms like Dream11 and cryptocurrency trading both fall under this category—then why is only cryptocurrency being restricted from advertising?
The Indian government has already imposed stringent regulations on cryptocurrency, treating it under the Money Laundering Act. Trading is subject to a 30% direct tax with an additional 1% TDS. Despite this, crypto exchanges continue to face regulatory hurdles, with the government collecting Rs 1,839 crores from the sector in the 2023-24 financial year.
Cryptocurrency is often perceived as a form of gambling in India due to its volatility, but critics argue that this characterization is flawed. The stock market, commodity trading, and Systematic Investment Plans (SIPs) also experience significant fluctuations, yet they are not treated as gambling. Meanwhile, gambling has been a larger societal concern, contributing to financial distress, loan defaults, and even cases of suicide and crime.
Official reports indicate that India saw 1.6 billion visits to four major gambling websites in just three months, with social media contributing 42.8 million visits. More than 63% of Indians have engaged with gambling-related platforms, whereas only about 29.71% invest in stocks, SIPs, or cryptocurrencies. The ease of access to gambling platforms, with entry points as low as Rs. 10 and minimal verification requirements, has led to impulsive financial decisions, particularly among the younger generation.
Dream11, despite being labeled as a skill-based platform, offers quick and easy access, allowing users to start playing within 10 minutes of downloading the app. In contrast, investment platforms require multiple verifications and a 24-hour cooling-off period before allowing transactions.
BCCI’s decision to ban crypto ads while allowing Dream11’s continued sponsorship highlights a selective regulatory approach. India remains a major player in the global cryptocurrency market, and with discussions around regulatory changes gaining momentum, the government’s stance may evolve to mirror international policies, much like those implemented in the U.S. under former President Donald Trump. Until then, the disparity in how gambling and crypto are treated remains a contentious issue in the Indian sports and financial landscape.
