- The Law Commission report recommends regulated betting.
- To stop the black market India wants to follow UK and regulate the market.
A new report has been recommended to the Indian government that illegal betting could be tackled if it became properly regulated. Sports betting in India is currently outlawed. The Law Commission is currently working on a new report to the Indian Government.
They want to make a request to the Supreme Court that suggests that allowing sports betting on the national sport of cricket would solve the rising problem with illegal gaming.
Many problems with illegal gambling
There are many related problems with illegal betting such as an illegal sports betting lending market which have led to people getting killed in some cases.
It is very hard to prevent online betting so it’s better to regulate is the best argument from the chairman of the LCI Justice BS Chauhan. Their recommendations come after an examination of the issues with sports betting on cricket matches
Legal sports betting could slow down the spread of illegal gambling
The Law Commission estimates that $2 billion USD is gambled illegally in India every year. There are some fears that the illegal betting funds criminal gangs and that they have been made much stronger during the recent years thanks to the money they earn on sports betting. The Law Commission wants to take a part of the income from sports betting and give it to people who need it and good causes.
Another fear that the commission has is the game of Cricket itself. The league has already had problems with corruption and fixed games, even if it’s legalized, will these problems disappear? Cricket is the most popular sport in India and the Commission don’t want to ruin it.
Tightly controlled gambling market
If there is to be a legal commercial gambling market within India, the lawmakers are very clear it would be a tightly controlled market. The legalization of games of chance e.g. casino games is very unlikely to happen in the near future.
ll in all, there are discussions in India and something might happen quite soon there. There are hundreds of online betting sites with legit licenses that could prosper from a new law. We will keep track of everything that will happen in India.