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Reasons Why Sports Betting should be legalized in India

reasons why betting should be legalized in india
May 24, 2018

Indians are not aloof of gambling. In fact, stating that gambling is ubiquitous in India won’t be untrue. While some gamble by playing cards, others bet on animal fights on the streets. The gambling activities in the country manifolds during popular sports events, cricket matches, and cricket tournaments such as the Indian Premier League (IPL). It’s during these events that the ‘bookies’ are most active, and the law enforcement agencies and departments give an apex priority to curbing all their activities. Notably, sports betting is legal in countries like Denmark, Canada, Belgium, Estonia, United Kingdom, etc.

Following in the footsteps of these counties, sports betting should be legalized in India too for the following positive aspects:

Boost to the Nation’s Growth

A majority finds this benefit quite hard to digest. However, once legalized, sports betting would surely lend a helping hand in boosting the growth of the country. As per a reputed daily, the betting market in India is approximately valued at INR 9.9 lac crores every year. If legalized, both ‘bookmakers’ and ‘punters’ would have to pay taxes to the government on the earnings from their respective winning bets. And as with any other amount paid to the government as tax, this sum of money will also be utilized in the development of the country, ultimately boosting growth.

Employment Generation

If Indian government gives its nod to a legal and regulated gambling industry, the same will help in generating a myriad of employment opportunities. In other countries where gambling is legal, there are ample jobs for citizens. The US, for instance, employs over 2.5 lakh people in its regulated gambling industry while the figure is 1 lakh+ in the case of the UK.

To curb criminal activities

It is said that a majority of the gambling activities happening in the country is controlled by underworld syndicates. These associations use the gambling fund to finance criminals and even terrorists. Once the legalization takes place, the government will be able to curtail the money from flowing into the wrong hands, thereby curbing the terror financing to a great extent.

Curtail match-fixing and sports corruption

On mining the internet and published news journals, one would surely come across cases where bookies and players have been accused of fixing matches in ‘spots’. On legalizing the gambling sector, the bookies would come within the purview of the Indian government. It would be then a snowball chance in a hot place to tempt players into match-fixing. Even the sportsperson would be wary of making any deal or transaction with the registered bookmakers.

Because other ‘gambling activities’ are legal

Don’t we have lottery legalized in India? Then comes betting on horse racing (derby), which the Supreme Court legalized in the year 1996. Another legal gamble is the stock market. The uncertainty of the share prices and unpredictable trading make share market, perhaps, the riskiest platform for the investors.

 

Absorbed in thoughts? Why don’t you share them along with your opinion in the comment section below!

 


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