Indian Authorities Ask for Legalization of Sports Betting
Earlier this week, the Federation of Indian Chambers of Commerce and Industry (FICCI), has requested that online sports betting activities should be properly regulated within the territory of India. After authorities tried to ban betting activities, there has been no positive outcome, considering that India lost Rs. 300,000 crore coming from the sports betting black market.
This way, authorities are trying to properly regulate the system so that illegal activities would be reduced. FICCI committee chairman Sanjiv Paul said that it is time for India to allow regulated betting so that operators will be stimulated to start legal business. Auditing firm KPMG showed that, if the sports betting regulatory system will be established, India could rake in from Rs. 12,000 to 19,000 crore each year and it will also lower illegal activities.
The report made by FICCI showed that the benefits of this new law would come from the accountability for large sums of money which are transferred illegally, money laundering and other unlawful activities. Besides that, if betting becomes legal in India, revenues coming from this industry could be used for funding sports development plans, social aspects or infrastructure development ideas. While online gambling activities are legalized all over the world, our company provides you with top quality turnkey casino software and other solutions, along with a wide range of astonishing games, which will help you open a profitable online gambling site.
BY CASINOWEBSCRIPTS PUBLISHED 24 May 2013