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It was also suggested that gambling be classified into two distinct categories – “proper gambling” and “small gambling” – with “proper gambling” referring to high stakes play.In a submission to the Law Commission’s report, local gaming industry body the All India Gaming Federation (AIGF) said it had recommended a regulatory regime that would allow authorities to supervise the sports betting market.Gambling and betting is mostly done very secretly and which is handled in a delicate manner.
Match fixing and spot fixing would drastically increase. Psychologically, players attracted to gambling naturally because of their competitive nature, media success, money and self-assured sense of entitlement.
If betting were to be legalised, this lower class of the country will affect.
The report also recommends that gambling services should be offered only by licensed Indian operators who would be granted licenses by the regulatory authority and that gamblers should have the number or size of bets capped within a given time period.
“The nature of stakes should be restricted to money with a linkage to PAN card and Aadhar card and the betting amount should be prescribed by law, having an upper limit on the amount one can legally stake in a gamble, which may be on the basis of the deposit, winnings or losses,” the report said.
Betting attracts the common man to try their luck and tempts them to play with money.
Sports Gambling Essays
It is very tough to imagine the consequences of a poor person losing his hard-earned money or his life saving on betting.“Since it is not possible to prevent these activities completely, effectively regulating them remains the only viable option,” the report said.Among the recommendations is for a law to be enacted for the regulation of gambling that can then be adopted by India’s various states.These can be used to fund health and other constructive projects of the government.Apart from revenue generation, legalizing the gambling will surely create huge employment. employs over 2.5 lakh people in the gambling industry, while over 1 lakh individuals are employed in the U. Integrity is a core component in any activity, but in sports and games is crucial to its success.Gambling and other forms of betting are the common thorough out the world.In India, people bet on animal fights on the street, cock fights, playing card games.Globally, wherever gambling is regulated, it has created a massive opportunity for employment generation. It serves the basis for the enjoyment of participants and spectators.In India it could create direct and indirect jobs for around 25-40 lakh. But if the gambling and betting are legalized, integrity and honesty will be under great threat.Estimates about the size of the gambling market in India vary according to various private and government agencies.According to KPMG report, the size could be around $ 50- billion, while other, more recent, studies from financial institution peg the value even to higher numbers.