Business Standard

Legalise & regulate sports betting: FICCI

Says, the greatest advantage of regulating sports betting is going to be the accountability for large amounts transferred through illegal channels, and more

Yogini Joglekar  |  Mumbai 

After all the latest controversies related to spot fixing in cricket and revelations of the role of underworld in sports betting, reinitiates its call for regulating in India.
 
Despite several attempts to ban it by deploying resources, betting is still a continuing trend. Thus, it should be regulated in a way which reduces this to an acceptable level. Hence, the government should think of legalising and regulating betting. Absence of regulating this field leads to problems like how to tax the money involved in gambling which in-turn encourages betting operators to function openly.
According to FICCI, the greatest advantage of regulating is going to be the accountability for the large amounts of money transferred through illegal channels and reduction in cases of match fixing, and crimes.


It further added that, India is continuing to lose Rs. 12,000 to Rs. 20,000 crore annually on the back of opaque operations in sports betting. If gaming and betting is regulated in India, it will benefit exchequer and could potentially fund sports development, social protection, welfare schemes and infrastructure development plans.

In a representation submitted to Government, has highlighted how blanket ban on is difficult to sustain without a proper regulation. The representation also highlighted the number of international examples of different countries who have benefitted from regulating the betting, added sources. The further opined that, ban cannot be implemented but can be controlled with proper to prevent further deterioration of conduct of sports in the country.

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Legalise & regulate sports betting: FICCI

Says, the greatest advantage of regulating sports betting is going to be the accountability for large amounts transferred through illegal channels, and more

After all the latest controversies related to spot fixing in cricket and revelations of the role of underworld in sports betting, FICCI reinitiates its call for regulating sports betting in India.
After all the latest controversies related to spot fixing in cricket and revelations of the role of underworld in sports betting, reinitiates its call for regulating in India.
 
Despite several attempts to ban it by deploying resources, betting is still a continuing trend. Thus, it should be regulated in a way which reduces this to an acceptable level. Hence, the government should think of legalising and regulating betting. Absence of regulating this field leads to problems like how to tax the money involved in gambling which in-turn encourages betting operators to function openly.
According to FICCI, the greatest advantage of regulating is going to be the accountability for the large amounts of money transferred through illegal channels and reduction in cases of match fixing, and crimes.

It further added that, India is continuing to lose Rs. 12,000 to Rs. 20,000 crore annually on the back of opaque operations in sports betting. If gaming and betting is regulated in India, it will benefit exchequer and could potentially fund sports development, social protection, welfare schemes and infrastructure development plans.

In a representation submitted to Government, has highlighted how blanket ban on is difficult to sustain without a proper regulation. The representation also highlighted the number of international examples of different countries who have benefitted from regulating the betting, added sources. The further opined that, ban cannot be implemented but can be controlled with proper to prevent further deterioration of conduct of sports in the country.
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Business Standard
177 22

Legalise & regulate sports betting: FICCI

Says, the greatest advantage of regulating sports betting is going to be the accountability for large amounts transferred through illegal channels, and more

After all the latest controversies related to spot fixing in cricket and revelations of the role of underworld in sports betting, reinitiates its call for regulating in India.
 
Despite several attempts to ban it by deploying resources, betting is still a continuing trend. Thus, it should be regulated in a way which reduces this to an acceptable level. Hence, the government should think of legalising and regulating betting. Absence of regulating this field leads to problems like how to tax the money involved in gambling which in-turn encourages betting operators to function openly.
According to FICCI, the greatest advantage of regulating is going to be the accountability for the large amounts of money transferred through illegal channels and reduction in cases of match fixing, and crimes.

It further added that, India is continuing to lose Rs. 12,000 to Rs. 20,000 crore annually on the back of opaque operations in sports betting. If gaming and betting is regulated in India, it will benefit exchequer and could potentially fund sports development, social protection, welfare schemes and infrastructure development plans.

In a representation submitted to Government, has highlighted how blanket ban on is difficult to sustain without a proper regulation. The representation also highlighted the number of international examples of different countries who have benefitted from regulating the betting, added sources. The further opined that, ban cannot be implemented but can be controlled with proper to prevent further deterioration of conduct of sports in the country.

image
Business Standard
177 22

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