The Law Commission of India has advocated for legalizing sports betting and gambling in the country. The report prepared in December is yet to be submitted to the Supreme Court.
The panel has recommended lawful and strict gambling laws would help in curbing the illegal practices that generate black money.
Moreover, it would also generate revenues for the government and would generate employment.
Report states, ‘If such activities can’t be prevented, regulating them strictly is the only viable option. Regulating gambling would ensure transparency and detection of fraud.’
The Supreme Court had asked the commission to look into the matter of sports wagering after the issue of spot-fixing rocked the Indian Premier League in 2013.
The commission has recommended licensing those who run sports gambling and betting businesses, who may permit cashless transfers and the gamblers and bettors must link their Aadhar and PAN cards.
The All India Gaming Federation (AIGF) announced its plan for developing a self-regulatory body for boosting the skill gaming industry in India.
The regulatory charter is aimed at the development of a complex patchwork of state-by-state regulation by structuring a centralized model, said AIGF chairman Roland Landers.
Landers was speaking at Sports Betting and Gaming India conference in Goa last week.
He added that there is an uncertainty all over the world over the parlance of the game of chance and game of skill, and the new format of online gaming and other technological developments are blurring the line between the two. But, the young generation is striving hard to enhance their skills to excel in the gaming world.
Sports betting is on the roadmap of Law Commission, which after analyzing all the issues would make recommendations to the apex court.
According to estimates, the Indian gambling black market is worth Rs. 13,000.