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Sports betting in india

Legalising casinos and other such gambling places could regulate an informal industry worth Rscrore and also bring in thousands of crores in revenue, it is estimated. Last year, the Supreme Court had asked the commission to study the possibility of betting on cricket.

Cricket in India has been blighted by spot fixing scandals involving promises of huge sums of money by cartels involved in illegal betting. Several countries allow betting on sports. Gambling on the internet is hard to stop, commission sources said, and a law will mean regulating the sector and allowing casinos and betting on cricket and other sports.

Last month, commission chairman Justice BS Chauhan flew to London to attend a three-day conference of organisers and regulators of such events that included the international casino conference, sessions on lotteries and bet markets.

He read more regulators sports betting in india different countries where betting and casinos are lawful and has asked for their inputs to come up with an India specific model.

We have to see if betting can encourage match fixing. The Indian Sports betting in india Act treats an agreement that is based on wager or sports betting in india as void.

Allowing betting or sports betting in india will have to mean first amending the provisions of the act. FICCI, which was one of the partners in the London conference held from February 6 to 8, has been rooting for regulating the sector.

In a report on the subject inthe industry body suggested that there is an informal Rsannual betting industry in India despite the ban.

If a tax is imposed on the industry, the government can earn Rs click the following article, crore to Rs 19, crore every year, it said. Today in New DelhiIndia.

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