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Regulating Sports Betting in India
May 2013 | Sports
Despite several attempts to ban, sports betting is continuing albeit in an underground way and substantial resources have been invested into enforcing such a ban; Thus middle way out is it should be regulated in a way which reduces this to an acceptable level. Hence, the Government should think of legalizing and regulating sports betting.
India is continuing to lose billions of dollars in taxable revenue through black marketing operations in betting. There is no accountability for the large amounts of money transferred through illegal channels and there is an increase in cases of match fixing, money laundering and crimes.
If gaming and betting is regulated in India, it will benefit exchequer and could potentially fund sports development, social protection or welfare schemes and infrastructure development plans.
In this report on Regulating Sports Betting in India, FICCI has highlighted how blanket ban on sports betting has been impossible to be sustained without a proper regulation with the number of international examples of different countries who have benefitted from regulating the betting.
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