Should gambling be legalised in india
Sep 03, · If the gambling is legalised in a controlled manner in India, thousands of crores (billions) of rupees in black money involved in the illegal gambling activity currently could be made available to the legal economy. The Indian economy is already losing this precious revenue whether betting is legalised or not. Detail description and answer of Gd topic:Gambling/Betting should be legalized in India! BETTING IN CRICKET - SHOULD IT BE MADE LEGAL? ;. RE: Gambling or Betting should be legalized in India -Rajani Sharma (01/07/14) For: • Gambling or Betting should be legalized in India, as it .
Why gambling, betting should be legalised in India
However, it does not have to be that way. Minors and other vulnerable people will also be protected from the risk imposed by an unregulated market. If gaming and betting is regulated in India, it will benefit the exchequer and could potentially fund sports development, social protection or welfare schemes and infrastructure development plans. Considering such cases government should not legalize the gambling in any way. Las Vegas is one of the few places where you can gamble.
India should legalize gambling
In a democratic country like ours, it is now time to legalize forms of gambling including betting. Firstly, people have been heavily involved in this illegally since decades and making it legal will only do better for the citizens. Moreover, the entire match fixing will also be reduced to a great extent.
Secondly, by legalizing gambling the government of India will be able to earn a lot of revenue through taxes. These taxes can be utilized in many efficient ways for the development of the nation. Infrastructure and other amenities can be encouraged. The country can be flourished by fixing many of its impoverished parts through these taxes which will otherwise not come to the government.
Thus legalizing gambling is a wise option for our country. It can be evident from this example- Kerala State Lotteries, which has recorded profits of Rs. If a single state can generate so much revenue from the lottery then a nation-wide chain of betting houses can easily generate thousands of crores.
And government is losing out on tax revenues of Rs to 20, crores annually by not taxing betting. If India regulates the same then it could potentially help in funding in sports development, social protection or welfare schemes and infrastructure development plans.
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India should legalize gambling India should legalize gambling Beyond the controversies surrounding the finances and ownership of IPL teams now raging, there are long-standing murmurs of betting and match-fixing that periodically surface as rumours. TNN Apr 21, , Whether or not these have a basis in fact, they do raise an important question — would it not make sense to legalize betting in India as it is in almost all of the developed world? The arguments in favour of such a move are persuasive.
The strongest among them is that criminalizing betting doesn't prevent it happening, as reports have repeatedly shown.
What banning betting does achieve is to drive all this activity underground and hence into the playground of criminal elements. That has serious implications. With such serious sums of black money sloshing around and criminal elements involved, there is a serious risk of some or large parts of it finding its way to terrorists, drug mafia and the like.
Legalizing betting and other forms of gambling would not only bring all of this activity out into the open and hence minimize, if not eliminate, the underworld's role, it would also mean the government would be able to tax it and raise substantial revenues from it. Legalizing gambling may, in fact, have a bigger impact in terms of turning hitherto black money into white, accounted-for wealth than the tax amnesty schemes that governments periodically come up with.
It could also bring back money now going into countries where gambling is legal. These are some of the reasons why most countries do not have a blanket ban on gambling. To get an idea of the kind of sums potentially involved in the gambling or betting industry, check out these facts. A European Commission study in estimated the size of the sector in 25 EU member states at This is way, way more than the Rs 7, crore tax collected under the amnesty Voluntary Disclosure of Income Scheme in even after discounting for inflation.
Such recent scandals as Enron and the subprime mortgage crisis show how corporate business has been fertile soil for ethical missteps. With these things in mind, the recent fantasy sports scandals should come as little surprise. Fantasy sports is both sports and business—a double danger of bending or breaking norms that maintain fairness and public trust.
In fantasy sports, players assemble virtual teams with real-life athletes and play against one another for big money. Rotisserie League gaming the most common method of fantasy baseball is many decades old and now has made it to the major leagues. Just like general managers of professional sports teams, fantasy sports competitors manage real athletes who put up real points to win them real championships.
There is little that is frivolous about fantasy sports in this day and age. Beyond fantasy sports being more real than ever, the business is booming. The advertised potential profits from playing exceed the median household income in the United States. Playing could be better business than your 9-to-5 job.
Moreover, being part of fantasy sports is simply good business. New England Patriots owner Robert Kraft and Dallas Cowboys owner Jerry Jones, two very successful businessmen, are investors in online fantasy sports companies. Either way you cut it, there is a perception that significant money is to be had by being part of these games.
It is easy to take a holier-than-thou look at the suspect behaviors of fantasy sport company employees, yet it may be wiser to realize the ease of neglecting good judgment in this environment. A long, long time ago, sports was seen as recreation. Despite the rising stakes of athletics, it is warming to think of fantasy sports as a pure, fun-loving endeavor.