Sports betting in India has always been quite a controversial topic. Even with the amount of media attention sports betting gets, especially, cricket betting, there is some mystery surrounding it. Many arguments have been made for and against betting. However, we continue to hold firm to the notion that betting should be legalized. Here are our reasons why:
It Will Provide Proper Regulation:
In the present scenario, the betting scenes in India are murky. You do not know what exactly is going on. This ends up paving ways for scamming and complete chaos. If betting is legalized, a structure can be provided to the gambling industry setting down rules and structures that will make betting a part of the sport rather than an illicit way of scamming people.
Put an End to Illegal Gambling:
While gambling has been banned in India, illegal betting on sport events is an open secret. The amount of loss incurred due to the illegal gambling to the Government and personal property is tremendous. A regulated betting scenario will help track the money transactions, and any illegal buying and selling would be caught quickly.
Licensures for Betting Operators:
The main argument people have against betting and gambling is that anyone can fool people easily. But if the government does end up legalizing betting, it can create a cell which makes sure that all the betting operators have proper licenses and authority to handle the bets made. A report would also have to be made regarding the activities under the betting scenario.
Handling Taxes and Black Money:
Legalizing sport betting in India, will also ensure that the betting and gambling transactions are made linked with PAN card or Aadhar Card; this will ensure that any money or income derived from betting or gambling is tracked, and the dues are paid to the Government.
Other Illegal Activities Linked with Betting:
Legalized, strictures, and rules regarding betting and gambling can be established. This will help track down the illegal activities such as advertising pornographic content and match-fixing, sports fraud, etc. These activities can be made criminal offenses with severe punishments so that the betting continues to carry the sanctity of enjoying a good game and earning something while you are at it.
Of course, all of these changes will have to be handled appropriately. Several things need to be outlined even before legalizing betting and gambling is proposed. Whether people choose to acknowledge it or not, the betting market is huge and is quickly getting out of hand, which is paving the way to many other illegal activities due to lack of control and regulation. This makes it even more prudent to establish a legal structure that can specifically handle gambling and betting on achieving the advantages of legalizing can provide.
There needs to be Guidelines and Rules that are amended so that the legal system can outline what aspects of gambling are legal and illegal. Just ignoring the problem will not make it go away.