Revenues benefits after legalizing the online gambling
India’s love for the sport particularly cricket is also pointing out. It is estimated that the locals are spending millions in the bets in a single ODI match or test. The most popular and the biggest cricket league is the Indian Premier League which is a favorite sports event that locals like to wager on.
Another factor that is pushing the European companies of gambling in the Indian market is how the UK is making stricter regulations for gambling. For a long time, the UK has relaxed gambling regulations but now from the last few years, the Gambling Commission of the UK are coming up with initiatives of hurting the gambling businesses.
India is still looking like an attractive spot to these companies because they are not prohibiting the services to the locals. There are only two states in India that have to ban online gambling so far, and it is very unlikely that more states will do the same.
Should India consider the online gambling
Indian minister of finance believes that sports betting should be legalized in India. Betting like 918kiss is a very effective tool for curbing match-fixing. Various possibilities need to consider. In this way, it would be helpful to the system for helping and monitoring various people who are involved in fixing.
When the minister of finance is talking about the sentiments the numbers will shock you. Based on the statistics, the betting market is valued at over 60 billion US dollars and 80 percent of the income are been based on cricket betting.
This is just a portion of the tax revenues which is losing by the country. Aside from the underground market, the bookies and the offshore casino are also taking a lot of revenues. The countries where this gambling game is licensed are the ones who are benefitting the most.
This is why the US is starting for regulating sports betting in their states. The local government is understanding now how much revenue they will get if they regulate properly the gambling activities. India is also taking lessons from this country where gambling is legal. When it is done right then gambling would benefit lot to the economies of the country.
This will also reduce the burden of illegality which the government and other officials need to deal with. The people will also happily able to enjoy the game.