India to legalize gambling and sports betting

[avikz]

On July 5th, Indian Law Commission recommended the government to legalize gambling and sports betting in India. Gambling in India was legal during the British time but the first independent government banned it. Since then Indian was turning blind eye towards the gambling sector. However, the picture may change in near future seeing the benefits it can bring to government.

1. Cricket betting in India is already a billion dollar market but completely unregulated and underground. Government is loosing millions of tax revenue
2. It has suggested classifying gambling into two categories, one is proper gambling with big money and small gambling for occasional gamblers
3. Eyeing to boost tourism sector with a huge foreign money turnover
4. Employment generation 

Even though nothing has been finalized yet, but India has shown negative responses towards gambling earlier. However, currently the government is struggling to maintain the treasury deficit within the required limit. Also the changed Eco-political scenario and duty-war among the big economies has led India to think about increasing internal revenue. So things may change this time. Lets hope for the best!

News source 1:
https://blogs.timesofindia.indiatimes.com/toi-editorials/legalising-betting-in-sport-just-do-it/

News source 2:
https://timesofindia.indiatimes.com/sports/more-sports/others/allow-gambling-betting-on-sports-as-regulated-taxable-activities-law-panel/articleshow/64873545.cms

New source 3:
https://www.hindustantimes.com/india-news/legalise-gambling-and-betting-to-help-generate-revenue-jobs-law-panel/story-0oe6dPPdTbKEACaq9wyPYJ.html

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[Findingnemo]

I know that Indians were mad at cricket betting and there were lot of money is circulating while the games happening in their country so by regulating means they can earn lot of money,but is they have separate regulations for crypto gambling too?

[sunsilk]

They are struggling to fight against the underground market of gambling and just like the saying "If you can't beat them, join them."

That's their final choice of regulating and legalizing gambling, just imagine the population of India is one of the biggest and what if big portion of it are gambling.

Tax profits aren't going to the government, Indian gamblers doesn't need to hide anymore.

[avikz]

They are struggling to fight against the underground market of gambling and just like the saying "If you can't beat them, join them."

That's their final choice of regulating and legalizing gambling, just imagine the population of India is one of the biggest and what if big portion of it are gambling.

Tax profits aren't going to the government, Indian gamblers doesn't need to hide anymore.

Yes, as I already mentioned, Cricket betting industry is already a billion dollar industry in India. Cricket is considered even popular than religion here. All these betting money is not going to government and they are unable to make revenue out of it. Legalizing it will have a long lasting positive effect on the economy. Also it will boost the alternate employment market in India. The way Macau and Australia successfully ventured in to gambling market and made it successful for the local government, India will be able to do the same if it is legalized finally. 

[Direwolve735]

I believe that India's legalization of sports betting and gambling can increase the state's revenues and reduce the problems associated with illegal gambling. Since a country can not completely prevent this activity, regulation remains the only option. I am sure that legalization will also help create new jobs and increase the level of tourism.

[kurian]

This is indeed a great news for Indian gamblers. However, gambling is negatively portrayed in India yet there are lot of people who are doing it illegally. As far as I know in India online gambling is in the 'grey area'. With the advance of technology and adaption of cryptocurrency as a payment in online casinos made it lot more easier for people from India to gamble. So, I think more people would be come forward to gamble if it is going to be legal in India.

[Indamuck]

The government is just looking to collect more revenue.  You see this in a lot of places with legalization of marijuana, they really don't care about citizen's rights.   Governments love to get their hands on any source of money flowing through their country, that's why they hate the black market.

[buwaytress]

About time. The US has finally come to its senses about legalising sports betting, and India should get on board. God knows how much their economy would benefit from revenue.

Normally wouldn't immediately see it as a good thing but in India's case, it's way beyond control. With regulated gambling, they should also make some headway into match fixing. Cricket there is such a disgrace, but with so much riding on blackmarket betting, who wouldn't throw a few games for easy money?

[jrrsparkles]

About time. The US has finally come to its senses about legalising sports betting, and India should get on board. God knows how much their economy would benefit from revenue.

Normally wouldn't immediately see it as a good thing but in India's case, it's way beyond control. With regulated gambling, they should also make some headway into match fixing. Cricket there is such a disgrace, but with so much riding on blackmarket betting, who wouldn't throw a few games for easy money?

Match fixing or what still governments will have lot of revenue from gambling because I heard that IPL involves in Billions which is just by illegal gamblers so imagine how much money will get roll over into this field here after,But I doubt that this will be implemented in near future because Indian laws were working at turtle speed in most cases,

[Wipro]

On July 5th, Indian Law Commission recommended the government to legalize gambling and sports betting in India. Gambling in India was legal during the British time but the first independent government banned it. Since then Indian was turning blind eye towards the gambling sector. However, the picture may change in near future seeing the benefits it can bring to government.

1. Cricket betting in India is already a billion dollar market but completely unregulated and underground. Government is loosing millions of tax revenue
2. It has suggested classifying gambling into two categories, one is proper gambling with big money and small gambling for occasional gamblers
3. Eyeing to boost tourism sector with a huge foreign money turnover
4. Employment generation 

Even though nothing has been finalized yet, but India has shown negative responses towards gambling earlier. However, currently the government is struggling to maintain the treasury deficit within the required limit. Also the changed Eco-political scenario and duty-war among the big economies has led India to think about increasing internal revenue. So things may change this time. Lets hope for the best!

News source 1:
https://blogs.timesofindia.indiatimes.com/toi-editorials/legalising-betting-in-sport-just-do-it/

News source 2:
https://timesofindia.indiatimes.com/sports/more-sports/others/allow-gambling-betting-on-sports-as-regulated-taxable-activities-law-panel/articleshow/64873545.cms

New source 3:
https://www.hindustantimes.com/india-news/legalise-gambling-and-betting-to-help-generate-revenue-jobs-law-panel/story-0oe6dPPdTbKEACaq9wyPYJ.html

Worst government I see in this world that is India. Many third world countries from Asia started implementing blockchain project and making people to earn the money over online resources mate. Kindly invest the time and check the good gambling site through out this world.
Do not depend on centralized gambling site as crypto users.
I think people from this forum will looking to get the money on gambling as a anonymous player.

[mostkey]

It is a good idea to legalize in gambling so that the government can fully control it will automatically benefit from gambling to further advance the level of quality of gambling in order to attract more rich people to enter, but it will not materialize as soon as there is an agreement with each government to aligned in response to this problem, the technology should be further developed in paired gambling with blockchain for a very clear level of security, anonymity is necessary so as not to risk every gambler.

[kurian]

The government is just looking to collect more revenue.  You see this in a lot of places with legalization of marijuana, they really don't care about citizen's rights.   Governments love to get their hands on any source of money flowing through their country, that's why they hate the black market.

That's right! This why Indian government recently tried to ban Cryptocurrency and as a result Reserve Bank of India barred banks from supporting Bitcoin. They admitted it has done without proper research. Government should accept new revolutionary technologies.

[Pab]

It is much better for India to  legalize gambling and sports betting Ban anything is easy but if we look history in
time of prohibition in USA we can see that it was mafia best time.It only caused corruption and criminal organisation huge benefit.I think India will need to think about creating some regulations for crypto

[Hamphser]

They are struggling to fight against the underground market of gambling and just like the saying "If you can't beat them, join them."

That's their final choice of regulating and legalizing gambling, just imagine the population of India is one of the biggest and what if big portion of it are gambling.

Tax profits aren't going to the government, Indian gamblers doesn't need to hide anymore.

Yes, as I already mentioned, Cricket betting industry is already a billion dollar industry in India. Cricket is considered even popular than religion here. All these betting money is not going to government and they are unable to make revenue out of it. Legalizing it will have a long lasting positive effect on the economy. Also it will boost the alternate employment market in India. The way Macau and Australia successfully ventured in to gambling market and made it successful for the local government, India will be able to do the same if it is legalized finally. 

No doubt, they would really heading on that way. Good thing that they do consider now to legalize it yet it seems that they cant able to benefit if they would tend to ban or completely block it and now they do revert such decision because they are the only ones who would miss out the chance on getting benefits which would totally help out the entire economy or such country. This is indeed a good news for India.

[SyGambler]

actually it's stupid that governments don't legalize gambling , like even here in Syria it's illegal to gamble but there are many that are gambling using illegal bookmakers in the country and at any moment these bookmakers may steal the money
it's better for the economy and safer for the citizens , governments should realize that gamblers will gamble anyways no matter if it's legal or not so they better benefit from it and protect their citizens from losing money with scam operators

[darkangel11]

I find it strange that they're banning cryptocurrencies and legalizing gambling at the same time. So, are they a strict government or not? Both things should be legal, but when cryptocurrencies were, gambling was not, now it's going to be the other way round... Living in a crazy country like that can really have an impact on your mental health One day you're playing cards for fun, the next police is breaking down the door

[oegarod]

India is a country where gambling is in a partially accepted level. Sports betting and several other gambling services were accessible online, but the offline bookie services seems to be under control. This time the offline accessibility through bookies might be under discussion for legal accessibility.

[sunsilk]

They are struggling to fight against the underground market of gambling and just like the saying "If you can't beat them, join them."

That's their final choice of regulating and legalizing gambling, just imagine the population of India is one of the biggest and what if big portion of it are gambling.

Tax profits aren't going to the government, Indian gamblers doesn't need to hide anymore.

Yes, as I already mentioned, Cricket betting industry is already a billion dollar industry in India. Cricket is considered even popular than religion here. All these betting money is not going to government and they are unable to make revenue out of it. Legalizing it will have a long lasting positive effect on the economy. Also it will boost the alternate employment market in India. The way Macau and Australia successfully ventured in to gambling market and made it successful for the local government, India will be able to do the same if it is legalized finally. 

I believe if it was success to Macau and Australia this can also bring success to India's government. At last they have seen that the gambling industry is one of the biggest source of taxation.

They are not only aiming for this industry but they are also into tourism.

Best of luck to them and this can bring them a tiger economy if the progress was good, gamblers from all over the world will start visiting them.

[SaShiRaJaVu]

There is a lot of stupid rules and regulations that needs to be changed in India, i hope there will be change in the rule against gay marriage or relationship, they need to legalized those things and they need to legalized prostitution as well as start accepting sports gambling, these things are going on in India in the blind, so what is wrong in have it legal and have a legal framework so that there is no exploitation.

[Juggy777]

This will be a really good news for tourists and even the locals of India, every time we'll visit we visit Goa to gamble, now this will be a interesting move from the Asian country and it could fill the coffers of government 100 times than what it could have imagined, though I don't expect it'll pass easily there'll be many critics competing in but let's see if they're able to pass it.