Despite several attempts to ban it, betting is continuing
albeit in an underground way and substantial resources have been invested into
enforcing such a ban; Thus middle way out is it should be regulated in a way
which reduces this to an acceptable level. Hence, the Government should think
of legalizing and regulating betting.
If gaming and betting is regulated in India , it will
benefit exchequer and could potentially fund sports development, social
protection or welfare schemes and infrastructure development plans.
In a representation submitted to Government, FICCI has
highlighted how blanket ban on sports betting has been impossible to be
sustained without a proper regulation. In fact, this representation also
highlighted the number of international examples of different countries who
have benefitted from regulating the betting, added FICCI sources.
A system which seeks simply to prohibit rather than control
gambling is turning its back on the problem. Ban cannot be implemented but
sports betting can be controlled with proper regulation to prevent further
deterioration of conduct of sports in country. When regulation arrives, it is
true that problems are revealed, actions need to be taken and policies are
enforced. FICCI realizes the negative aspect of sports betting on the
society.
The question now is how to tax the money involved in
gambling and we need to devise a system which encourages betting operators to
function openly. We also need to devise systems for protection for the
young and vulnerable against the dangers of unwise betting behavior but these
can be addressed only if we spot the victim and which is possible only through
proper regulation. Active regulation is the only real solution – whether the
underlying philosophy is to permit or restrict.
Press release
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