IPL's online media partner facilitates betting on semifinals

It is great news for punters. They can bet online on either of the semifinals being played at New Mumbai on a website owned by IPL's official digital media parter, Global Cricket Ventures.

Ahead of the first semifinal, cricket.com, a global cricket portal controlled by GCV, a company in which IPL commissioner Lalit Modi's stepson-in-law Gaurav Burman holds a major stake, was last offering a rate of 8-to-11 for the victory of Mumbai Indians, owned by the Mukesh Ambani-led Reliance Industries Limited.

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

For the other semifinal, to be played tomorrow, bets were being offered at 1 to 1 in favour of Deccan Chargers as against 8 to 11 for Chennai Super Kings.

GCV is an online media and broadcast company and holds exclusive licences for digital, mobile, and image rights for the IPL till 2017.

According to regulatory filings by Elephant Capital, a private equity firm promoted by Burman, it invested $10 million or about Rs45 crore in GCV last November.

GCV runs the official website for the IPL and the Champions League Twenty20 tournament and also owns the portal cricket.com.

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