ISLAMABAD – In recent times, several betting companies have exploded in popularity in Pakistan, with a lot of people joining platforms to win cash prizes or other financial rewards.
Amid the growing trend of e-betting, Pakistani authorities started a crackdown against over 150 surrogate betting companies that are causing damages worth billions of dollars by shifting piles of money, mostly in the form of dollars, to hostile nations.
Reports shared in local media suggest that these betting companies operate digital platforms for gambling and betting activities on cricket and other sports.
The country’s information minister told a media house that civil and military authorities are after these betting companies, saying these companies are causing losses in billions.
The reports further stated that most of the illegal money from these apps shifted to India.
Earlier, information ministry warned PCB, PSL, private leagues, TV channels, radio broadcasters, digital platforms, newspapers, magazines and other advertisement platforms not to make any agreements and business relations with any betting company.
Officials maintained that these companies are promoting corruption and other nefarious agenda in country, besides damaging economy by moving untaxed money out of the country.
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