Follow by Email

Friday, 31 May 2013

SHOULD INDIA LEGALIZE SPORTS BETTING?


By Vaibhav Bhosle 

I wasn’t shocked when the spot-fixing scandal broke in the country. But, I was much more amazed to know that IPL 6 was worth Rs. 20,000 Cr. in the betting world.

Most of the bookies operating in the market are connected to the underworld and the sum generated from betting is funded for terrorist activities. The money which is used by Indians is used against the Indians (Blame yourself for the next terrorist attack if you were involved in betting).

Keeping aside the moral issues, if Gambling is legalized in India it will generate huge amount of revenue for government through heavy taxation. The amount which is now used in destructive manner can be used effectively by government. The revenue generated from taxation on betting can be constructively diverted for health and education in the society.

But, doesn’t betting destroy homes? This question might be quite difficult to answer. But, there are so many things openly sold in the market that are way more detrimental than betting, whether legally or illicitly. And how much force will government apply to eradicate it completely and even if government succeeds what is the guarantee that it won’t arise in no period of time.

Gambling, if made legal, provision can be made to keep it confined to high income group and are willing to bet their riches. License can be issued for betters. This will avoid any catastrophe caused amongst the poor and the middle class (Although, alcohol addiction has effectively destroyed all the classes).

Keeping a check on illegal sources will also be quite convenient. It will also help in curbing spot fixing or match fixing as the detection and investigation of such issues will be trouble-free. This will also drive away the illegal sources for Gambling. But, betting should be restricted for sports itself and should not be allowed for any national or personal issue. E.g. Bets were also placed related to Sanjay Dutt’s arrest in 1993 Mumbai serial blast case (Don’t be shocked to know that bets were placed on the IST on which he would be arrested).  

The Public Gambling Act 1867 came into effect during British Raj. Today, the betting industry in U.K is worth 6 Billion Pounds i.e. 0.5% of their GDP and it generates 700 Million Pounds in taxes. It’s high time, the Indian government should think about revision of the outdated law. 







Post a Comment