As per rough estimates, illegal betting and gambling market in India is worth approximately $150 billion. In fact, it was found that Indians have betted close to $9 billion in UK based gambling website in 2015.
Now, as per confirmed reports coming in, Law Commission of India has recommended that betting and gambling should be made legal in India.
And one of the most prominent reasons for this suggestion is the role of Underworld in this whole nexus.
Cashless Betting, Gambling in Cricket Will Be Legal!
Law Commission of India has prepared a details report on the subject, and as per the findings, it has recommended to the Govt. that betting and gambling be made legal in India.
The report titled ‘Legal Framework: Gambling and Sports Betting including Cricket in India’ has been presented to law minister Ravi Shankar Prasad, and ‘effective regulation’ is the summary of the whole report.
The report says that it is upto the Parliament to authorize its recommendations.
The report said, “Parliament may also enact a model law for regulating gambling that may be adopted by the states or, in the alternative, Parliament may legislate in the exercise of its powers under articles 249 or 252 of the Constitution,”
Why Legalize Betting?
As per the report and the research, sports betting and gambling in India is prominent, and if Govt. fails to regulate it and legalize it, then the role of Underworld will increase.
And if that happens, then it won’t be good for the nation, as the money earned via betting and gambling can be routed to sponsor terrorists.
Besides, as per Law Commission, if betting and gambling in sports is legalized, then it can create more jobs, and help the economy of the nation.
Last year, reports had emerged that Sports Ministry is developing confidence in making betting and gambling in sports legal.
Cashless Betting and Gambling?
Law Commission has suggested Aadhaar-linked gambling and betting mechanism, wherein no cash is used. Instead, people interested in gambling and betting in sports can link their Aadhaar, and then bet using their online money.
This way, once the person’s Aadhaar or PAN Card is linked with their betting profiles, then Govt. can easily tax the income as well.
However, betting and gambling in sports cannot be allowed for every sports, and some specific ‘skill based’ sports can be made exemptions. On the issue of betting in Cricket, the biggest sports in India, the Law Commission has not clarified.
Besides, the report also suggests that not everyone should be allowed to bet: Lower income Group members of the society can be banned from betting in sports.
We will keep you updated as receive more inputs.
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