In Sri Lanka, we have a long history with gambling. This is especially true for horse racing which began here in the 1840’s. In 1922 Colombo Racecourse was the first place in the East to install a Tote Board (totalisator). In our first decades after achieving independence, the gambling laws changed frequently. Betting on horses and greyhound races were legal grey areas. In the 1990s turf agents began offering cricket, football, volleyball, rugby, and tennis betting too. At the time, this was near entirely unregulated.
Today the betting industry of Sri Lanka is regulated and has rapidly matured. The good news for punters is that only the bookmakers have laws to follow and taxes to pay. For us gamblers, we make our wagers tax-free and all betting is fully legal. This has been true since Gambling Was Legalized in November 2010.
In this article, I write about our legal framework, our industry’s rich history and specific types of bets. Throughout this article I repeatedly mention the benefits of using online bookies, so to start with, I’ll begin by explaining a little bit about online betting in Sri Lanka. There are currently no online betting sites that support Sri Lankan Rupees (LKR) currency. Instead, I recommend using US$ as your account currency. Likewise, none support our two most spoken languages Tamil and Sinhala, so you must have a good understanding of English in order to use the sites.
Again, the cause of a gambling problem is the individual’s inability to control the gambling. Therefore, any type of gambling can become problematic, just as an alcoholic can get drunk on any type of alcohol. But some types of gambling have different characteristics that may exacerbate gambling problems.
Everyone who provides gambling opportunities has a responsibility to develop policies and programs to address underage and problem gambling issues.
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