Law Commission of India in favour of Legalising and Regulating 'Betting' instead of complete Ban

March,19,2017:

Betting market is USD 60 billion per annum, which, if taxed, could raise USD 2.6 billion revenue.

Apex Court had given Law Commission a task to examine if betting should be legalized in the backdrop of infamous 2013 IPL betting scandal that rocked careers of many cricketers.

Law Commission Chairman Justice BS Chauhan has said that preliminary scrutiny favored regulating these activities through a law rather than a complete ban  on them.

Justice BS Chauhan said betting and gambling had several adverse effects & people may get addicted to it, resulting in more no. of crime & worsening the living standards of poor, but added that it didn't justify a ban.

He said at a seminar organised by FICCI & All India Gaming Federation(AIGF) that it must be kept in mind that these adverse effects do not arise from gambling per se, but they're result of excessive gambling which leads to addiction & harm resulting from excess isn't limited to gambling only, as an excess of anything may negate its benefits.

He said that the response of state in such a situation should be to regulate this activity, not seek to stop it completely. Legalization would give the govt. the opportunity to bring gambling out from dark corners of our society, impose controls & extract some revenue.. if betting is made legal then a huge chunk of money that circulates only round the black market, would quickly become available.

"Regulation of this activity would enable the govt. to distinguish between harmless betting & corrupt activities like match fixing. The govt. could start with India's most popular sport that is cricket,“ he said.

He further added that there are chances that people, in a want to earn quick money through gambling, might resort to unlawful means. So, a comprehensive analysis of socio-economic circumstances in light of the constitutional guidelines is essential.