With stress on most sectors increasing due to the COVID-19 pandemic, governments across the world are looking to bolster revenue sources for pandemic relief.
Imagine winning a fortune after betting online in a horse race, and then going to a casino to try your luck at gambling. No, we aren't talking about Las Vegas. This may soon be true in India if this year's move by the Karnataka government to allow online horse race betting is followed by other states and the central government. On July 2, Bangalore Turf Club was allowed to conduct online betting as per existing rules, which came as a shot in the arm for the horse racing industry struggling with high taxes at present.
Jaydeep Chakravartty, Vice President of Global Gaming Solutions Provider Markor Technologies (Gibraltar), feels that Karnataka's decision is welcome not only from the point of view of revenue generation but is a step towards gaming regulation which will promote responsible gaming by protecting players. He also pointed to Fantasy Cricket Betting which has seen tremendous growth in the past few years with Dream11 being the leading sponsor of IPL in 2020.
Horse racing is a legal sport as per law, as it was classified as a "skill-based" sport by the Supreme Court of India in 1996, while Rummy was held as a game of skill back in 1969. But luck or chance-based sports like betting and gambling remain prohibited under the Public Gambling Act, 1867, and can't be allowed till this law is amended or a new law is framed. Though some states like Goa and Sikkim allow gambling, there are restrictions on local residents from participating. While the ban on gambling and betting does not extend to skill-based games like horse racing and Rummy, betting on any sport as of now falls foul of Indian law.
Online gambling and betting fall within the domain of telecommunications, and the Information Technology Act doesn't clarify on their legality in as many words. In absence of any legal protection, Indian players who participate in online gambling on different games remain susceptible to scam websites.
Editor-in-chief of Mybetting.in, Tomesh, told ET Now that legalizing online betting by bringing in a licensing regime for trustworthy betting websites would be a win-win situation for all, through a security net for Indian players and additional revenue for the government.
Even the Law Commission in 2018 had favoured regulation of betting and gambling, opining that a complete ban is not enforceable. It had probably considered the ground reality of illegal existence of such activities which have been pushed underground due to lack of regulation and operate outside the purview of law and taxation. Law Commission had recommended that states can request the Parliament to make laws on gambling and betting, but since the activities fall within the ambit of state subjects, states can also independently make laws to regulate them.
Saurabh Khandelwal, Consultant with QM Media which runs affiliate websites like OnlineCricketBetting.net, feels that regulation of responsible gaming is the need of the hour to ensure money circulating in the system is protected and accounted for. Responsible Gaming Commissions in many countries recognise problems faced by gamers or gaming platforms. Unlike many advanced nations, gaming is not covered under any Indian law. With majority traffic on OnlineCricketBetting.net from South Asia, Khandelwal feels legalised betting and gambling in a cricket crazy nation like India will be a bonanza for betting sites and cricket fans alike since there will be a formal structure to work with.
In December this year, NITI Aayog had sought comments on its draft guidelines to regulate fantasy sports across India. Minister of State for Finance, Anurag Thakur had also indicated that legalising betting will help to bring it into the formal economy, which won't only curb corrupt practices like match-fixing but also provide revenue to the exchequer. The projection isn't incorrect.
source - https://www.timesnownews.com/sports/article/do-chance-based-sports-like-betting-gambling-have-any-luck-of-being-legalized-in/701560
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