The online betting industry in India has received a significant boost after it is revealed to the Sports Ministry. Even though there are many hurdles to be crossed, the Sports Ministry has begun informal discussions to make it legal across the country. Regarding this, the members of Sports Ministry have started conversations with the members from other ministries. Horse racing is the only game that is legal in India currently.
UK appears to be the benchmark
Due to a successful implementation of the online betting system in the United Kingdom, India is now ready to receive inputs from the UK’s Sports Ministry. ”Effective gambling laws’ implemented in the UK appear to be the benchmark for the Ministry. We hope to understand their system and see if it is possible to introduce it in India,” a ministry official said.
The legalisation would see a wide range of benefits
At present, there is an illegal betting market in India now which is believed to worth around USD$150 billion (Rs 9.6 lakh crore). It is a black market. The legalisation would move a significant portion of consumers to the legal market and challenge the current market significantly. By the re-investment of the revenue raised through online gambling, the law is likely to cause considerable benefits to Indian sports. Funding for all those programs introduced by the Sports Ministry is little challenging in current days. The legalisation is expected to solve this problem.
The legalisation would see some adverse affects
Despite the illegality, there is still a significant betting industry in India. India is a huge country which is blessed with diversity. So, the implementation may face some challenges. It will put a question mark in front of the integrity of cricket and will be viewed by much as unethical likely to result in some backlash. The sensitive nature of online betting can raise a socio-political subject across the country.