Cricket-mad Pakistan’s betting scene set for ICC Champions Trophy boom

People watch the ICC Champions Trophy cricket match between Pakistan and India on a television at a canteen in Lahore on February 23, 2025. (AFP/File)
Short Url
Updated 24 February 2025
Follow

Cricket-mad Pakistan’s betting scene set for ICC Champions Trophy boom

  • One medium-sized bookie said he could expect to make up to $10,000 during major tournament like Champions Trophy
  • One seasoned bettor said he had once won staggering $89,538 from a single match but lost $32,233 in next game

ISLAMABAD: While eight cricket teams are fighting for the ICC Champions Trophy which started last week, bookies and police will be playing a game of cat and mouse as fans in cricket-crazy Pakistan are expected to wager huge amounts during the international tournament.

Cricket betting exists as a complex, underground market in Pakistan, thriving through unregulated bookies, online platforms and informal betting networks. Authorities say they frequently crack down on betting rings but enforcement remains a challenge due to the widespread use of mobile apps and international betting websites.

Arab News spoke to two bookies and two regular sports bettors to gain insights into Pakistan’s underground betting market, its stakes and how it operates, its evolution in the digital age and the impact of major cricket events on betting activity in the country. 

One bookie, who wanted to be referred to by the initials AB due to fear of legal action, said sports betting had always been popular in Pakistan but had become more accessible in recent years with the rise of online applications. 

While he said he usually made the equivalent of about $1,700 — $3,500 during a regular international cricket match, he could expect to make up to $10,000 during a major tournament like the ICC Champions Trophy. 

“Millions of dollars throughout the world and billions of rupees in Pakistan are expected to change hands [during the Champions Trophy],” AB told Arab News in a telephone interview. 

When asked about the maximum amount people were willing to bet on a game between Pakistan and India, one of the world’s most intense sports rivalries, he said: 

“The more money a person has, the more he bets. We are talking billions of rupees here.”

One bettor Arab News spoke to, who wanted to be referred to by the assumed name Bilal, said the largest bet he had placed in one go was around $5,400, while the most amount of money he had won from a single cricket match was a staggering $89,538.

“But then I lost around $32,233 in the next match,” Bilal said, adding that he had learnt his lesson and did not place big bets anymore. The highest he would go during the Champions Trophy was around $350 a match. 

OLD VS NEW SYSTEM

Explaining the evolution of Pakistan’s betting scene, AB said the betting process had been entirely manual until about a decade ago. 

“Bookies were connected to international betting networks and offered players the rates from those platforms while charging a commission,” he explained. 

Under the old system, new players could only place bets if an existing player vouched for them, making the guarantor responsible for covering the new player’s losses if they failed to pay. This also protected against the risk of infiltration by undercover cops. 

This is how the system worked: Players would call the bookie directly to ask for betting rates and then place a bet, and the call was recorded as proof of the transaction.

That system gave bookmakers a greater margin, as the odds could fluctuate between the time a player inquired about a bet and when they actually placed it.

Today, bookies use betting apps, which eliminate the need for guarantors. Any player can contact a bookie directly, deposit a certain amount and receive a login ID with funds added to their account.

“Players can now access the app directly to place bets and withdraw their winnings after a match or tournament,” AB said. “We still allow our long-term players to bet now and pay later.”

A seasoned bettor from Karachi, who requested to be identified as Tariq, told Arab News he had been betting for the past 15 years, not just on cricket but also on football, horse racing and other sports.

“The manual process used to favor the bookies because players couldn’t see the real-time fluctuations in betting rates,” he said. “This allowed bookies to manipulate the odds and increase their profits.” 

Web-based betting had made the operation, including payouts, smoother however, Tariq added. 

“Before every cricket match, one team is the favorite while the other is the underdog depending on their previous performance,” AB, the bookie, added. “Betting on the favorite team yields lower earnings compared to betting on the underdog.”

He explained that if the odds for a match were 2:3, a $1 bet on the favorite team would yield $0.67 in profit while betting a dollar on the underdog would yield $1.50.

AB said the most common bets during cricket matches revolved around predicting the outcome of the match or series, while “fancy bets” involved wagering on the number of runs a team will score within a certain number of overs.

Bets could be placed on anything, he added, from which team would win the toss to which bowler would take the most number of wickets.

“For instance, at the start of a match, the first available fancy bet is usually for the first five or ten overs,” AB explained. “A player can bet on whether the batting team will score more or less than a certain number of runs, for example 40, within a specified number of overs, with this type of betting continuing throughout the match.”

PAYING UP

Often, the gambling dens operate under the very nose of the police, bookkeepers said. 

KC, another bookie who also refused to be identified by his full name and operates a den from a modest two-bedroom apartment in Karachi, told Arab News the police became active in striking deals with, and demanding heavier bribes from, bookkeepers before major cricket tournaments like the ICC Champions Trophy. 

“Corruption runs deep,” he said. “Some policemen even place their own bets.”

The first bookie, AB, said police were helpful both in looking the other way and allowing dens to operate, while raiding the set-ups of competitors or new bookies in the market. 

“Small bookies like me pay thousands of rupees weekly as protection money on a regular basis. But the policeman I’m in touch with has told me they won’t come to save me if there is a raid, the most they will do is alert me about the raid beforehand,” he said. 

AB said there was a fixed bribe rate on a weekly basis, but a percentage system was used for big matches, with the police getting a cut of earnings from big matches. 

“In a month from small bookies, police would be able to make around $5,500,” he added. “Rates don’t increase before tournaments but only for big matches.”

Tariq, the bettor, recalled a time he lost over a million rupees on credit and couldn’t pay on time.

“I received threats from bookies and even policemen called me asking me to visit them,” he said. 

The same works for bookies too sometimes: 

“If a bookie fails to pay, the police detain them until they clear their dues,” Tariq added. 

Speaking to Arab News on condition of anonymity as he was not authorized to speak to the media, a senior Karachi police official said gambling had largely shifted online, bringing it under the jurisdiction of the Federal Investigation Agency (FIA). However, he admitted that some physical gambling may still be taking place though its nature had changed. 

“It is rarely played with gamblers physically present in one location. This is why it now falls under the FIA’s jurisdiction,” the official said. 

A spokesperson for Sindh police said the issue did not fall under the domain of police. 

FIA spokesperson Abdul Ghafoor could not be reached for comment despite several attempts while FIA Deputy Director Media Mehmood Ali Khokhar sought questions via text message but did not respond.


IMF warns against policy slippage amid weak recovery as it clears $1.2 billion for Pakistan

Updated 11 December 2025
Follow

IMF warns against policy slippage amid weak recovery as it clears $1.2 billion for Pakistan

  • Pakistan rebuilt reserves, cut its deficit and slowed inflation sharply over the past one year
  • Fund says climate shocks, energy debt, stalled reforms threaten stability despite recent gains

ISLAMABAD: Pakistan’s economic recovery remains fragile despite a year of painful stabilization measures that helped pull the country back from the brink of default, the International Monetary Fund (IMF) warned on Thursday, after it approved a fresh $1.2 billion disbursement under its ongoing loan program.

The approval covers the second review of Pakistan’s Extended Fund Facility (EFF) and the first review of its climate-focused Resilience and Sustainability Facility (RSF), bringing total disbursements since last year to about $3.3 billion.

Pakistan entered the IMF program in September 2024 after years of weak revenues, soaring fiscal deficits, import controls, currency depletion and repeated climate shocks left the economy close to external default. A smaller stopgap arrangement earlier that year helped avert immediate default, but the current 37-month program was designed to restore macroeconomic stability through strict monetary tightening, currency adjustments, subsidy rationalization and aggressive revenue measures.

The IMF’s new review shows that Pakistan has delivered significant gains since then. Growth recovered to 3 percent last year after shrinking the year before. Inflation fell from over 23 percent to low single digits before rising again after this year’s floods. The current account posted its first surplus in 14 years, helped by stronger remittances and a sharp reduction in imports. And the government delivered a primary budget surplus of 1.3 percent of GDP, a key program requirement. Foreign exchange reserves, which had dropped dangerously low in 2023, rose from US$9.4 billion to US$14.5 billion by June.

“Pakistan’s reform implementation under the EFF arrangement has helped preserve macroeconomic stability in the face of several recent shocks,” IMF Deputy Managing Director Nigel Clarke said in a statement after the Board meeting.

But he warned that Islamabad must “maintain prudent policies” and accelerate reforms needed for private-sector-led and sustainable growth.

The Fund noted that the 2025 monsoon floods, affecting nearly seven million people, damaging housing, livestock and key crops, and displacing more than four million, have set back the recovery. The IMF now expects GDP growth in FY26 to be slightly lower and forecasts inflation to rise to 8–10 percent in the coming months as food prices adjust.

The review warns Pakistan against relaxing monetary or fiscal discipline prematurely. It urges the State Bank to keep policy “appropriately tight,” allow exchange-rate flexibility and improve communication. Islamabad must also continue raising revenues, broadening the tax base and protecting social spending, the Fund said.

Despite the progress, Pakistan’s structural weaknesses remain severe.

Power-sector circular debt stands at about $5.7 billion, and gas-sector arrears have climbed to $11.3 billion despite tariff adjustments. Reform of state-owned enterprises has slowed, including delays in privatizing loss-making electricity distributors and Pakistan International Airlines. Key governance and anti-corruption reforms have also been pushed back.

The IMF welcomed Pakistan’s expansion of its flagship Benazir Income Support Program, which raises cash transfers for low-income families and expands coverage, saying social protection is essential as climate shocks intensify. But it warned that high public debt, about 72 percent of GDP, thin external buffers and climate exposure leave the country vulnerable if reform momentum weakens.

The Fund said Pakistan’s challenge now is to convert short-term stabilization into sustained recovery after years of economic volatility, with its ability to maintain discipline, rather than the size of external financing alone, determining the durability of its gains.