should betting be legalized in india

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Should betting be legalized in india internet sports betting revenue

Should betting be legalized in india

Gambling is a principle inherent in human nature. Whether it is betting on horse races or animal fights on streets, people see it as a legitimate form of recreation. Despite betting on sports events like cricket matches is illegal in India, people tend to engage in betting on them and end up losing a lot of money.

People get inveigled in the vicious cycle of gambling as they fail to understand when they should quit. Gambling or Betting may sound like an evil trap, but it is not, if the players know how to play it patiently, and smartly. In India, betting on horse races or lottery is legal, but the question that arises in our mind is that, should betting on all sports events of our country be legalised?

This article would talk about, whether gambling should be legalised in India or not and what rules and regulations authorities need to formulate to regulate the activity of gambling, if legalised. Understanding The Concept Of Gambling Gambling is taking part in a game or sports activities where the player risks something of monetary value, or money to win money or a prize.

In gambling or betting the outcome of the game is uncertain and is down to chances. Gambling, in itself, is a wide term and there are many forms of it, like, lotteries, card games like poker, casinos, betting on sports events like a horse race or cricket etc. Why Legalise Gambling? The reasons for legalising gambling are manifold. Since the Indian gambling market is very big and it is nearly impossible to root it out. Despite the fact that, it is an illegal activity, the authorities are unable to stop its operation.

So, when you cannot outsmart your enemy, the best thing to do is to befriend it for your benefit. Legalising gambling will not only help in breaking off sources of black money but it will also generate a good amount of revenue for the state exchequer. The unaccounted money earned from gambling activities is managed by the criminal syndicates which are spent on nefarious activities like terror financing. Legalising gambling will not only put a halt on it but also the money generated from betting and gambling can be used by the authorities for various constructive social schemes.

The legalisation of gambling activities will also lead to higher tax revenue. In a country like India where millions of people are unemployed, a legal and effectively regulated gambling sector will generate large-scale employment opportunities. According to a report by the U. Bureau of Labor Statistics, over , people were employed by the private gambling sector. In sports events like cricket, people tend to bet on it and the majority of time players go for fixing the matches, even though betting on it is illegal in India.

If betting gets a legal permit, then there will be more transparency in such activities and it will also curb fixing of the matches as it will create a sense of fear of getting caught among the players and bookies. They say that it is one of the reasons responsible for bankruptcy, addiction, loss of livelihood, divorce, crime.

There are instances of people incurring huge losses in the game eventually leading to suicides. Legalised gambling hurt and destroys those who are poor and disadvantaged people of the society. If gambling were illegal, then it would be difficult for the gambling industries to openly promote their casinos, lotteries, or any other gambling activities and exploit these people.

Since gambling is portrayed as something clean and a way to earn money quickly, it attracts young people, who eventually become gambling addicts. Gambling addiction also leads to crimes and mental illness to people who fall prey to this trap. Legalised gambling might also lead to fraud and corruption. Gambling is a fast-growing industry in the world and if legalised it has an impact on the government.

The government is majorly addicted to revenue earnings from this kind of industry and state-run lotteries. There is recently a numerous case of fraud and corruption in state-run lotteries across the world, so in India where corruption is like an inevitable part of the administration, it would have a great impact and would eventually add on to the existing evils of corruption.

The debate over the legalisation of gambling in India traces its root back to the age of mythology and epics. Football betting leads to the global sports betting industry. Other popular sports for betting are Cricket, Tennis and Basketball.

This shows that the underground betting market would continue to operate even if India were to legalize sports betting. Take UK or China, for example, they have been utilizing tax revenues, generated from taxing betting activities, for good causes. A betting market, with such a huge potential, shall undoubtedly contribute hefty revenue to the government. But as far as the intention of the government is concerned, it is not in favour of providing any support or allowing any type of FDI in betting platforms.

Is it their morality that is stopping them? Because morals shall not stop Indians. Indians are betting in billions. Though it is perfectly reasonable and acceptable for someone to have a moral or personal objection to gambling. Consider this: Allowing viewers to legally become sports bettors will make them more likely to watch sports. This will help the broadcasters due to an increase in viewership. Thus, the direct output, jobs, income, GDP, etc.

Employees in illegal sports betting operations currently spend a portion of their earnings on legal activities, so there would be a gain in legal economic activity. If this new sector emerges, it shall be needless to say that it will spark employment and also create new opportunities for startups. Leagues tend to benefit too due to increased interest and engagement with games. But a proper framework should be developed by the government first. Else, it could kill the legal market before it even starts.

There is no single rule or law for sports betting which can be applied across the globe. Different countries have followed a different approach based on socio-economic needs, public interest, political interest, etc. The approach adopted by France has been widely criticized as involving excessive taxation and bureaucracy. As a result, many operators who originally decided to take licenses in France have found it impossible to carry on business.

India can learn a lot from this example if it wants the industry to flourish and contribute to GDP and the state revenue. The casino lobby opposed this fee, making a point that the games would be in operation regardless of the number of bets placed. They had a point though. A proper framework should be developed to avoid such clashes. Rules would also need to be framed to tax a betting firm based on where the customer is located, not based on where the firm is located.

Because, if this approach is not followed, then bets placed offshore, by Indian customers, would generate no revenue to the state. Integrity in sports is crucial. If the betting is legalized, integrity and honesty will be under great threat. Match-fixing and spot-fixing would drastically increase. Athletes and players will be tempted.

NO RISK MATCHED BETTING BLOG

Betting is happening in India right now, and some in the sports world are afraid that match-fixing is starting to become all too common. Match-fixing is a real problem in countries with unregulated sports betting, and cricket has seen plenty of cases in recent years. The most popular sport in India will be protected if the gambling laws were to change. Games of skill, such as daily fantasy sports, are legal in India, but luck games, such as sports betting, are illegal.

Another survey conducted in India noted that 40 percent of people who use the internet in India do so to gamble. This would mean that online sports wagering could be a huge hit in the country if the gambling laws were changed. Just a few months ago, the Tamil Nadu government was asked to decide on online gambling, but nothing has come from that, so far.

The Indian government has been arresting those found to be betting on sports in the country, but nothing official has been announced. Even if online sports betting was not legalized in India, there is still a push for retail betting.

India has plenty of other countries to look at for guidance and examples if it eventually changes the gambling laws. If India could legalize and launch sports gambling, cricket would be the driving force behind the industry. These are some huge numbers being wagered in India, and the government would benefit by taxing the action. Tennis and basketball are two other sports that would bring a lot of interest to the Indian sports betting industry. Sportsbooks would also be able to launch in India and begin taking bets on other sporting events worldwide.

There are plenty of possibilities, but the gambling laws must be changed before anything can be done. EIN Presswire's priority is source transparency. Toggle navigation. Home Explore. Gambling is a principle inherent in human nature.

Whether it is betting on horse races or animal fights on streets, people see it as a legitimate form of recreation. Despite betting on sports events like cricket matches is illegal in India, people tend to engage in betting on them and end up losing a lot of money. People get inveigled in the vicious cycle of gambling as they fail to understand when they should quit.

Gambling or Betting may sound like an evil trap, but it is not, if the players know how to play it patiently, and smartly. In India, betting on horse races or lottery is legal, but the question that arises in our mind is that, should betting on all sports events of our country be legalised? This article would talk about, whether gambling should be legalised in India or not and what rules and regulations authorities need to formulate to regulate the activity of gambling, if legalised.

Understanding The Concept Of Gambling Gambling is taking part in a game or sports activities where the player risks something of monetary value, or money to win money or a prize. In gambling or betting the outcome of the game is uncertain and is down to chances.

Gambling, in itself, is a wide term and there are many forms of it, like, lotteries, card games like poker, casinos, betting on sports events like a horse race or cricket etc. Why Legalise Gambling? The reasons for legalising gambling are manifold. Since the Indian gambling market is very big and it is nearly impossible to root it out. Despite the fact that, it is an illegal activity, the authorities are unable to stop its operation.

So, when you cannot outsmart your enemy, the best thing to do is to befriend it for your benefit. Legalising gambling will not only help in breaking off sources of black money but it will also generate a good amount of revenue for the state exchequer. The unaccounted money earned from gambling activities is managed by the criminal syndicates which are spent on nefarious activities like terror financing. Legalising gambling will not only put a halt on it but also the money generated from betting and gambling can be used by the authorities for various constructive social schemes.

The legalisation of gambling activities will also lead to higher tax revenue. In a country like India where millions of people are unemployed, a legal and effectively regulated gambling sector will generate large-scale employment opportunities. According to a report by the U. Bureau of Labor Statistics, over , people were employed by the private gambling sector. In sports events like cricket, people tend to bet on it and the majority of time players go for fixing the matches, even though betting on it is illegal in India.

If betting gets a legal permit, then there will be more transparency in such activities and it will also curb fixing of the matches as it will create a sense of fear of getting caught among the players and bookies. They say that it is one of the reasons responsible for bankruptcy, addiction, loss of livelihood, divorce, crime. There are instances of people incurring huge losses in the game eventually leading to suicides.

Legalised gambling hurt and destroys those who are poor and disadvantaged people of the society. If gambling were illegal, then it would be difficult for the gambling industries to openly promote their casinos, lotteries, or any other gambling activities and exploit these people.

Since gambling is portrayed as something clean and a way to earn money quickly, it attracts young people, who eventually become gambling addicts. Gambling addiction also leads to crimes and mental illness to people who fall prey to this trap. Legalised gambling might also lead to fraud and corruption. Gambling is a fast-growing industry in the world and if legalised it has an impact on the government.

The government is majorly addicted to revenue earnings from this kind of industry and state-run lotteries.

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