{"id":54746,"date":"2017-07-17T18:00:16","date_gmt":"2017-07-18T01:00:16","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=54746"},"modified":"2017-07-18T05:33:36","modified_gmt":"2017-07-18T12:33:36","slug":"india-serious-tapping-50-billion-sports-betting-market","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/india-serious-tapping-50-billion-sports-betting-market\/","title":{"rendered":"India \u201cSerious\u201d About Tapping $50 Billion Sports Betting Market"},"content":{"rendered":"

India\u2019s federal government is taking serious steps towards legalizing sports betting<\/a>, according to reports.<\/p>\n

\"\"
Cricket is India\u2019s most beloved game, but recent match-fixing scandals within the sport have increased the clamor for regulated sports betting in the country. (Image: AFP)<\/figcaption><\/figure>\n

A \u201cministry official\u201d who spoke anonymously to the Indian Express, a respected English-language daily broadsheet newspaper, said the Sports Ministry has initiated a consultation process with stakeholders that could see a framework of regulation established in two years\u2019 time.<\/p>\n

Responding to questions on Monday, India\u2019s Sports Minister Vijay Goel did not deny the rumors but emphasized that any such legislation would not be \u201cfast tracked.\u201d<\/p>\n

The illegal sports betting market in the world\u2019s second-most populous country is estimated to be worth around $150 billion, money that is currently being funneled exclusively into illegal Indian bookmakers and unregulated offshore websites, bypassing the country\u2019s tax department.<\/p>\n

Its estimated a regulated sports betting market could generate around $50 billion per year, which could swell federal tax coffers by around $1.9 billion.<\/p>\n

Meanwhile, recent high-profile cases of match-fixing in Indian cricket, most notably in the India Premier League in 2013, have bolstered the argument for regulation, which would improve the increased oversight of betting in order to more effectively detect such incidents.<\/p>\n

Looking at the UK Approach<\/strong><\/h2>\n

According to the Indian Express source, the Sports Ministry believes tax revenues could be used to improve sports funding in India and, to this end, it will seek to emulate the UK\u2019s approach.<\/p>\n

\u201cThe UK has one of the most effective gambling laws. We hope to understand their system and see if it is possible to introduce it in India,\u201d the source said,<\/strong><\/p><\/blockquote>\n

\u201cThe UK has overcome this (poor funding) through lottery and online betting. The department is preparing an MoU with the UK and the aspect of betting will be included therein in order to understand the mechanism and evolve a view on the possibility of its introduction in India.\u201d<\/p>\n

Criminal Elements<\/strong><\/h2>\n

India\u2019s<\/a> Supreme Court is also currently considering the sports betting question. The court has agreed to hear a Public Interest Litigation that pushes for regulation, and there is a growing appetite within India\u2019s legal community to get the job done.<\/p>\n

In May, Senior advocate Rupinder Singh Suri told the court that “regulating the existing system will weed out the undesirable elements in the betting business and will bring more credible and genuine players over whom the government can have more control.\u201d<\/p>\n

In response to claims that regulated sports betting might increase corruption in sports, the Law Commission of India Gambling Consultation commissioned a report by sports integrity body ESSA.<\/p>\n

\u201cIt is clear that, whilst currently illegal in much of India, betting on sport, and particularly the national game of cricket, is widespread and yet largely unregulated and untaxed,\u201d ESSA concluded.<\/p>\n

\u201cThis has led to a situation that has unfortunately benefited criminal elements\u2026 On the basis that prohibition of betting has proved ineffective, and where a renewed drive to impose it would appear impractical, a continuation of the status quo is clearly not advantageous.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

India\u2019s federal government is taking serious steps towards legalizing sports betting, according to reports. A \u201cministry official\u201d who spoke anonymously to the Indian Express, a respected English-language daily broadsheet newspaper, said the Sports Ministry has initiated a consultation process with stakeholders that could see a framework of regulation established in two years\u2019 time. Responding to […]<\/p>\n","protected":false},"author":42,"featured_media":54748,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,16,1074],"tags":[],"acf":[],"yoast_head":"\nIndia \u201cSerious\u201d About Tapping $50 Billion Sports Betting Market<\/title>\n<meta name=\"description\" content=\"India could regulate sports betting in two years, sources claim, as the government looks to fight match-fixing and increase funding for sports.\u00a0\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"India \u201cSerious\u201d About Tapping $50 Billion Sports Betting Market\" \/>\n<meta property=\"og:description\" content=\"India could regulate sports betting in two years, sources claim, as the government looks to fight match-fixing and increase funding for sports.\u00a0\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/india-serious-tapping-50-billion-sports-betting-market\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2017-07-18T01:00:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-07-18T12:33:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/07\/images.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"287\" \/>\n\t<meta property=\"og:image:height\" content=\"176\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Casino.org Staff Writer\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Casino.org Staff Writer\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/india-serious-tapping-50-billion-sports-betting-market\/\",\"url\":\"https:\/\/www.casino.org\/news\/india-serious-tapping-50-billion-sports-betting-market\/\",\"name\":\"India \u201cSerious\u201d About Tapping $50 Billion Sports Betting Market\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/india-serious-tapping-50-billion-sports-betting-market\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/india-serious-tapping-50-billion-sports-betting-market\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/07\/images.jpg\",\"datePublished\":\"2017-07-18T01:00:16+00:00\",\"dateModified\":\"2017-07-18T12:33:36+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/8c48bf89dc86da77b4d856c7b3b78d77\"},\"description\":\"India could regulate sports betting in two years, sources claim, as the government looks to fight match-fixing and increase funding for sports.\u00a0\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/india-serious-tapping-50-billion-sports-betting-market\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/india-serious-tapping-50-billion-sports-betting-market\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/india-serious-tapping-50-billion-sports-betting-market\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/07\/images.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2017\/07\/images.jpg\",\"width\":287,\"height\":176,\"caption\":\"Cricket is India\u2019s most beloved game, but recent match-fixing scandals within the sport has increased the clamor for regulated sports betting in the country. 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