India to legalize gambling and sports betting

[ethereumhunter]

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.

yes, and I am sure that India government will collect a big money from this and their people now can play gambling without afraid. but I am worried for that news because it can trigger to another chaos because once the gambler is a loss, they can do whatever things that they can to get more money so they can continue to play gambling. but all in all, I think India is a step forward from the other countries and I want to know more about this and I hope that there no chaos or accident that will happen because of gambling.

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[Hiltohen]

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.

Yeah that is the main point that there are millions of gamblers in India and they cannot quit gambling, so the government now decided that they will allow gambling throughout India and by this way they can figure out their gambler numbers.I think it is not good because gambling is a worst game and addicted gamblers lose almost everything in gambling.

[JanpriX]

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.

Yeah that is the main point that there are millions of gamblers in India and they cannot quit gambling, so the government now decided that they will allow gambling throughout India and by this way they can figure out their gambler numbers.I think it is not good because gambling is a worst game and addicted gamblers lose almost everything in gambling.

Additionally, if I'm not mistaken, they can get some tax from it and we all know that we are talking about huge money here so if my guess is right, their government will rake in gazillion amount of money from the gambling industry in their country. They literally don't have any way to stop it and they don't have the money to waste on putting different gambling services to stop at all cost. It is, in every way, a very logical thinking from their part if you consider all the aspects that is available out there.

[audaciousbeing]

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

Eventually, its about how much money government can get from every activities they tend to pursue and the moment a slight understanding can be ascertained that no harm is done to the populace, they are surely going for it. The point is, its not about the welfare of the people but about what the government will get in its own coffers.

The same government that ban the use of crypto is considering the legalisation of gambling due to the financial inflow that would accrue to them that they had initially detested. That's why I am hope that whatever they launched against crypto is temporary that the moment the income to government is established, they are definitely reviewing their stand.

[avikz]

Eventually, its about how much money government can get from every activities they tend to pursue and the moment a slight understanding can be ascertained that no harm is done to the populace, they are surely going for it. The point is, its not about the welfare of the people but about what the government will get in its own coffers.

The same government that ban the use of crypto is considering the legalisation of gambling due to the financial inflow that would accrue to them that they had initially detested. That's why I am hope that whatever they launched against crypto is temporary that the moment the income to government is established, they are definitely reviewing their stand.

The current government of India is not doing populist politics at all. What they are trying to do since the beginning of their tenure is to cut down the treasury deficit, which has always been a challenge to all previous governments. So the current government has to take some drastic measures like, withdraw the subsidy from fuels and cooking gas, Option to withdraw the train travel subsidy, Reducing the interest rate etc. So the government is actively looking to increase the internal revenue. That's where exactly we are hoping that the government can take measures to legalize gambling and sports betting. Also treasury deficit is an ongoing matter, so if they decide to legalize gambling in India, that can't be for a shorter term.  

[Script3d]

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.

Yeah that is the main point that there are millions of gamblers in India and they cannot quit gambling, so the government now decided that they will allow gambling throughout India and by this way they can figure out their gambler numbers.I think it is not good because gambling is a worst game and addicted gamblers lose almost everything in gambling.

Additionally, if I'm not mistaken, they can get some tax from it and we all know that we are talking about huge money here so if my guess is right, their government will rake in gazillion amount of money from the gambling industry in their country. They literally don't have any way to stop it and they don't have the money to waste on putting different gambling services to stop at all cost. It is, in every way, a very logical thinking from their part if you consider all the aspects that is available out there.

there would be always tax why would they stop their income then goes into their pockets it would be also good for the country if the politicians aren't corruption even tho it might destroy lives of some people. the government knows there are some illegal gambling happening they just let it slip or take actions it would be either.

[Betwrong]

I've been meeting a lot of players from India on various gambling sites, so I wasn't even aware it was illegal there.

Now, after googling the subject, I know that gambling in India is severely restricted except for some categories including lotteries and horse racing. It reminds of the situation in the former Soviet Union where only these two types of gambling were legal and where wholly controlled by the government. Some reports say that the Indian gambling market is around $60 billion per year (USD), half of which is illegally bet. I think legalization will do good to the economy of India, and also I agree with avikz's words above that the legalization can't be for a shorter term.

[FlightyPouch]

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.

Yeah that is the main point that there are millions of gamblers in India and they cannot quit gambling, so the government now decided that they will allow gambling throughout India and by this way they can figure out their gambler numbers.I think it is not good because gambling is a worst game and addicted gamblers lose almost everything in gambling.

Well, what can they do when their people is addicted to gambling right? Instead of wide ban or stopping of the Gambling businesses, they should take advantage of it to be helpful in their country. I am not saying that gambling can help a country but the gambling places are a great way to get taxes. In our country, casinos give great taxes to the government since not only it can generate large profit but it also attract a lot of people.

[el kaka22]

Sports betting is quite legal in so many countries which will not make huge dent in the world however owning a good sports betting company in India where over a billion people lives is quite profitable sounding business. Also if gambling as in las vegas or monaco type gambling becomes legal than maybe online gambling might get available too in which case tech companies love India and outsource stuff all the time to India and they may make an online gambling website based in India as well.

[Shenzou]

I think that this will defiently enhance the gambling scean in India as if people were not already doing it in the first place under the table, and I am pretty sure that this will lead to many new online gambling sites immerging and bring created from India, and not only that I think that who ever is gonna start a gambling sites will start it their,  since the government will start supporting it, and might even lead to improving the economy.

[shield132]

Yes, there are benefitd which it can bring to goverment but this is a country where there are a lot of peoples and almost all of them are very poor. Goverment has to focus on more major tasks rather than this. When there are poor people, their hope of becoming rich quickly is gambling. So this will cause fatal problems, at least it's my mind and many times proven in poor countries, casinos become top here everytime.
If they want it for tourists, then what about to make them open in very famous places for only non local citizens?

[CryptoGamblingSites]

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.

Yeah that is the main point that there are millions of gamblers in India and they cannot quit gambling, so the government now decided that they will allow gambling throughout India and by this way they can figure out their gambler numbers.I think it is not good because gambling is a worst game and addicted gamblers lose almost everything in gambling.

Additionally, if I'm not mistaken, they can get some tax from it and we all know that we are talking about huge money here so if my guess is right, their government will rake in gazillion amount of money from the gambling industry in their country. They literally don't have any way to stop it and they don't have the money to waste on putting different gambling services to stop at all cost. It is, in every way, a very logical thinking from their part if you consider all the aspects that is available out there.

"The government will make millions" is normal and logical thinking but what we have to remember is gamblers in India will have two options:

1. Gambling with a Regulated and TAXED gambling site in India.
2. Gambling with a Non-Regulated and Non-TAXED gambling site in India.

The increase of Bitcoin adoption in India and bitcoin gambling sites available currently, means the government has to also "allow" legal gambling be competitive with Bitcoin Gambling sites.

The sports betting and casino sites in a regulated market have lower profits compared to the crypto gambling sites because there are licensing fee's and more staff needed to  ensure compliance with regulation. Look at the UK gambling regulators fines the last few months, to see why crypto gambling is EASIER than following the regulations of governments. Gambling sites are EASY for politicians to pick on and assume they can pay more than they already do, this is what creates the unregulated and regulated systems in gambling.

If someone wants the "best" sports betting odds, it is most likely going to be offered on a non-regulated gambling site because they have a higher profit margin without being regulated or licensed. People WILL play on the regulated casinos obviously but the regulators will have to try to stop the crypto gambling sites from allowing India residents, which isn't easy.

[bitcoinrays]

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?

I think India is the only Asian country that accepts gambling and sports betting. They know that there are very big bookies in India and they bet on sports with a very high range, that why they request Indian government that sportsgambling should be legalized in India and they will pay tax on sportsgambling. Mostly Indians are criminal and the government decides to control crimes by this way.

[kurian]

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?

I think India is the only Asian country that accepts gambling and sports betting. They know that there are very big bookies in India and they bet on sports with a very high range, that why they request Indian government that sportsgambling should be legalized in India and they will pay tax on sportsgambling. Mostly Indians are criminal and the government decides to control crimes by this way.

I don't understand why you've said "Mostly Indians are criminal and the government decides to control crimes by this way.". Indian underground gambling market is huge but, that doesn't mean mostly Indians are criminals. There are times Indians were addicted to gambling. To control it govt. implemented laws. However, it didn't stop gambling.

[CryptoGamblingSites]

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?

I think India is the only Asian country that accepts gambling and sports betting. They know that there are very big bookies in India and they bet on sports with a very high range, that why they request Indian government that sportsgambling should be legalized in India and they will pay tax on sportsgambling. Mostly Indians are criminal and the government decides to control crimes by this way.

It is underground and because the banks in India block the gambling sites from accepting money, can be up and down depending on the transaction type. Same with Paypal and neteller going going down. When covering the India online gambling situation, we noticed Bet365 is still popular with some but it keeps getting blocked from taking Rupee's for sports betting.

Everyone will eventually switch to crypto gambling even when there is legalized offers because the regulated offers will probably betting limits, bad promotions, taxes on winnings and/or bad sports betting odds.

[pitiflin]

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?

Government won't benefit much or at all from this. There are so much corruption in India, legalizing gambling won't take them anywhere. Its not the sport that is at disgrace, its the fucking people. Illegal betting and blackmarketing is prevalent in every country.

Even if betting is regulated, those people who these bettings underground won't show up. They'd still be doing what they used to. Indian government is considered to be a joke, by a lot of people,in and out of the country. They need to do more than just legalizing it.

[just_Alice]

That seems to me like a very desperate step towards increasing internal revenue. India surely has serious economic issues as a developing country, but I don't think gambling will change the situation, only due to foreign money turnover, especially considering the fact that the number of FTAs in India keeps increasing and has crossed the 10-million mark in 2017. However, the population in India is about 1.4 billion, so the foreigners make up only about 1%. While 80% of India population are professing Hinduism and gambling is specifically forbidden according to the most ascetic Hindu practices, even though there is no "sin" concept, ideas of karma influence the general attitude towards gambling for entertainment. Not even speaking of the poverty situation, 30% are extremely poor, while about 40% certainly aren't that rich to gamble as well.

Sources:
https://en.wikipedia.org/wiki/Poverty_in_India

https://timesofindia.indiatimes.com/india/foreign-tourist-arrivals-hit-new-high-of-one-crore-earnings-cross-27-billion-mark/articleshow/62531855.cms

https://www.gambleonline.co/religious-views-of-gambling/

[MinerHQ]

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.

Governments sometimes start regulating these things to avoid illegal activities. Currently, the very huge amount of Illegal betting happening in IPL matches in India and the government knows it is not possible for them to completely stop so they want to regulate it to avoid illegal activities.

Even though they allow gambling but don't think they will allow crypto gambling because they already put restrictions on crypto trading so it will be fiat gambling activity.

[Angel Di]

I become far from clear the policy of India, if they legalize it all. After all, the country itself is an ancient culture, and so will be a lot of gambling and debauchery. Maybe I missed something. 

[avikz]

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.

Governments sometimes start regulating these things to avoid illegal activities. Currently, the very huge amount of Illegal betting happening in IPL matches in India and the government knows it is not possible for them to completely stop so they want to regulate it to avoid illegal activities.

Even though they allow gambling but don't think they will allow crypto gambling because they already put restrictions on crypto trading so it will be fiat gambling activity.

Correct and that's exactly the reason for Indian government behind this thinking. People are gambling on every sports that are played in India but the governemnt is not making any money out of it. They will impose heavy taxes on gambling if they legalize it after all debates.

Cryptocurrency gambling is not within the scope itself because government has already informed that cryptos will not be considered as a legal tender in India. But I think Indian government is taking one step at a time. Cryptos will have to be legalized eventually just to cope up with the other countries.