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.
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should think about revision of the outdated law.
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