always be an option to have a re-look at the earlier approach of a complete ban.
Te re-look, if any, may take into account the possible loss of revenue and employment generation that a regulation could bring about.
Te size of the global gambling market has grown manifold in the last decade. Tis increase in size is naturally accompanied with an increase in revenue generation, that continues to rise every year. For example, Europe has reported a yield of 41 per cent GGY (Gross Gaming Yield) and Asia has approximately yielded 39 per cent.
In fact, Japan has the largest national betting market which is the result of permitting betting on horse racing, cycling, motorbike racing and boat racing, constituting a market twice the size of the United Kingdom. Te same is also evident from the rapid increase in sales of Mainland China’s State lotteries, recording a $51.1 billion high in 2013.
According to experts, though land-based lottery and casinos still dominate the gambling market, online gambling and betting are showing rapid growth. Such activities, if properly regulated would ensure transparency in the market, as also strike at the underworld’s control over the illegal and unregulated gambling industry.
Additionally, the revenue so generated by regulating and taxing betting and gambling, may become a good source of revenue, which in turn, could be used for public welfare.
Regulation would therefore, empower the authorised agencies to identify and prevent instances of gambling by minors and ‘problem- gamblers’ as well as save the public from any kind of inconvenience at the hands of the law enforcement authorities. It would also enable the Government to effectively curb the menace of black-money generation through illegal gambling.
Tere is merit in the argument that, had gambling been regulated at the time of the Mahabharat, Yudhishtir could not have staked his wife and brothers in a gamble. On the other hand, the argument made for ‘revenue over morality’ lacks merit. States such as Gujarat, Bihar, Manipur, Nagaland and Lakshadweep, prioritising societal morality over revenue collection, have put legislative embargos on the sale, storing and consumption of liquor; taking into account its ill-effects on the society.
Terefore, keeping in mind that the Indian society has always frowned upon gambling, considering its self-destructing capabilities and pernicious nature, it is most likely for the Indian people to choose morality over revenue in matters of gambling too.
Gambling has been proven to result in financial losses, causing an adverse impact on one’s economic State, personal life and social life. Such activities affect the vulnerable sections of the society in unimaginable and often, irreparable ways.
Further, in an unregulated environment, inherent greed and corruption result in
increased criminal activity. One of the major drawbacks of illegal gambling and betting activities is loan-sharking, i.e. taking loans at exorbitant rates for gambling. Aberrational behaviour sprouting out of compromised individual and social ethics is also a common side-effect of unchecked and unregulated ‘betting and gambling’, ultimately weakening the moral fibre of the nation.
Te existing policy of the Government (National Sports Development Code of India, 2011, etc.), the current socioeconomic atmosphere in the country and the prevalent social and moral values do not encourage betting and gambling. Accordingly, the Commission reaches the inescapable conclusion that legalising betting and gambling is not desirable in India in the present scenario. Terefore, the State authorities must ensure enforcement of a complete ban on unlawful betting and gambling.
However, incapability to enforce a complete ban has resulted in rampant increase in illegal gambling, resulting in a boom in black-money generation and circulation. Since it is not possible to prevent these activities completely, effectively regulating them remains the only viable option. Tus, if Parliament or the State Legislatures wish to proceed in this direction, the Commission feels that regulated gambling would ensure detection of fraud and money laundering, etc. Such regulation of gambling would require a three-pronged strategy, reforming the existing gambling (lottery, horse racing) market, regulating illegal gambling and introducing stringent and overarching regulations.”
NEWSWIRE / INTERACTIVE / MARKET DATA P225
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