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Law Comm to recommend regulations to control online betting

Press Trust of India  |  New Delhi 

The Commission is set to recommend a series of regulations to control illegal online betting in India, including one which allows a person to place only three bets a year. A senior functionary of the commission, quoting a 'working paper' prepared for members to take a final call on the issue, told that one of the stringent regulations is not to allow any for more than three times a year. "We want it banned.

But if it cannot be, then stringent regulations should be in is an addiction...people have lost so much money," the functionary said. According to the document, people interested in placing will have to play through a The operator "will" seek details such as and total property of the person placing bets to allow him or her place "high stake" or "low stake" bets. The high and low stake slabs are being recommended by the panel to ensure that people indulging in betting do not end up losing all their money and property. A person who does not come under the ambit of the tax will be allowed only to play low stake bets. Betting on sports, except horse racing, is banned in but it happens illegally in an unorganised and underground manner. In a case related to the BCCI, the had in 2016 asked the panel to examine whether betting can be legalised in "... The recommendation made by the committee that betting should be legalised by law, involves the enactment of a which is a matter that may be examined by the commission and the government for such action as it may consider necessary in the facts and circumstances of the case," the apex court had said. Based on a 2013 report prepared by FICCI, the underground betting market in is estimated to be worth Rs 3,00,000 crore. According to all-gaming federation's reported estimates, even by bringing half of the underground market through regulation, the government stands to gain over Rs 7,000 crore in tax every year and nearly Rs 10,000 crore will come in through FDI.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, January 14 2018. 11:06 IST