"Just because we have failed to curb it, we should not resort towards regulating betting," Srivastava said during an interactive session on 'Regulating Sports Betting: To Counter Match Fixing' organised by the FICCI.
"Even if we legalize betting or form a regulatory authority, does than guarantee a curb on betting?" Srivastava asked a pertinent question.
"Match fixers can use regulatory bodies to manipulate the players even more to do spot-fixing or match-fixing," he said.
"We have been using IPC and MCOCA. We would file the chargesheet in the case very soon," he said.
"Till the new laws come up, we have to follow the Indian Gambling Act of 1955," he added.
He was also of the opinion that the Indian society, compared to the advanced countries where betting is legal, is not in a position to accept legalised betting.
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