Online media partner facilitates betting

Online media partner facilitates betting

Ahead of the first semi-final,, a global cricket portal controlled by GCV — a company where IPL Commissioner Lalit Modi’s step-son-in-law Gaurav Burman holds a major stake, was last offering a rate of 8-to-11 for victory of Mumbai Indians, owned by Mukesh Ambani led RIL.

The other semifinalist Royal Challengers Bangalore of Vijay Mallya was placed better at 11-to-10.

For the other semi-final, to be held on Thursday, bets were being offered at 1 to 1 in favour of Deccan Chargers as against 8 to 11 against Chennai Super Kings.
GCV is an online media and broadcast company and holds exclusive licences for digital, mobile and image rights for IPL till 2017.

According to regulatory filings by Elephant Capital, a private equity firm promoted by Burman, it invested 10 million dollars or about Rs 45 crore in GCV in November last.
GCV runs the official website for IPL, Champions League Twenty20 Tournament and also owns the portal

Besides news and photo contents related to cricket, the portal also provides a platform for online betting or gambling, which is legal in the west.

Chargers’ view
 If Lalit Modi steps down as Indian Premier League (IPL) commissioner, then one of the franchise owners should be appointed to the post, Deccan Chargers’ Venkatram Reddy said on Wednesday.

Reddy pointed out that it is the franchise money that is running the tournament.
“At the end of day, it is about franchise money. Let one of the franchise owners become commissioner and someone from the Board of Control for Cricket in India (BCCI) be made the joint commissioner and both of them run accordingly.

“I don’t know but somebody should step in,” Reddy told a television channel.