The Union government is seriously looking into the possibility of legalizing gambling in sports and examining gambling regulations in other countries, particularly the UK and the US.
The sports ministry believes that since cricket has such a cult following, it should be legal for fans to bet on everything in the game. The government is also seen to be driven by the prospect of huge revenue earnings from bets placed and the taxes levied. The end result could be more money for sports development.
The ministry is studying Britain's Gambling Act 2005, which updated the country's laws on gambling and introduced checks and balances to protect children. The accent is on understanding the efficacy and ramifications of the British act once it's adapted to Indian conditions.
"The aim is to ascertain whether legalized betting can exist in India without the stigma that is attached to it now. So, we are looking at the pros and cons with great care. The UK model seems rather comprehensive,'' a source in the ministry said. The source added that the process is at a nascent stage and has to pass from the bureaucratic level to the cabinet before it is implemented by the home ministry.
The Gambling Commission regulates Britain's thriving industry and deals with all forms of gambling—bingo, casinos, the lottery, scratch cards and sports, including betting on horse and greyhound racing. All of this was made possible by the 2005 Act, an all-encompassing version of the Betting and Gaming Act of 1960 and the 1968 Gaming Act.
The ministry will also examine horse racing in India to check if the model needs to be tweaked.
The source said: "We are keen on the legislation as soon as possible. At the same time, it cannot be hurried through because we need to convince all about the need to legalize betting."
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