India to legalize gambling and sports betting - page 3.

hannahboy

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Quote from: BALIK on October 07, 2018, 05:59:35 PM

Looking at the effects of gambling on civilization, I would say it's not a wise move to make it legal after having it illegal for so long.

Personally, I think that gambling should be controlled such that people cannot lose their life savings over it. Many of the people who take such risks are not mentally competent to understand the risk they are taking, thus when they lose it is hardly their fault.

I would love to see some more humanitarian casinos that do the right thing, rather than being all for profit sometimes.

Gambling is a worst thing in the world and if you observe normal people will never gamble. They have no time and money for gambling. If I have 500 in my pocket I would think to take some fruits or other necessities for my family besides losing in gambling, but most of the Indians do not think so and their government knows this very well. That’s why they legalized gambling there.

kurian

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Quote from: DarkDays on October 10, 2018, 09:33:35 AM

All of my Indian friends tend to be hot on gambling, perhaps it's a cultural thing, perhaps somebody could elucidate?

I think that when gambling is deep rooted into society, attempts to ban it are just going to lead to an underground gambling ring, pretty much like that which was seen with India.

Legalizing it and thoroughly regulating it seems to be the smart and pragmatic approach.

It's not a cultural thing but, gambling has a remarkable influence in the history of India. It is obvious that Indian people really likes to gamble and crypto just fueled the interest by offering anonymous bets. If government is going to regulate and make it legal. It would be good for the country as they can't do much against the underground gambling.

DarkDays

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All of my Indian friends tend to be hot on gambling, perhaps it's a cultural thing, perhaps somebody could elucidate?

I think that when gambling is deep rooted into society, attempts to ban it are just going to lead to an underground gambling ring, pretty much like that which was seen with India.

Legalizing it and thoroughly regulating it seems to be the smart and pragmatic approach.

Ewinsane

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Quote from: Questat on October 08, 2018, 08:38:12 PM

There is no problem with legalizing gambling because it's just a form of entertainment and it could give a little boost to the economy especially
if more investors will operate, as long as it's properly regulated and the rules applied strict for the benefit of all, there would be no problem.
Right now, it's easy to bypass illegal rules on gambling because blockchain is here.

Legalizing may give avenue for anyone within the age range to end up being able to gamble and sure exposes the community at large to a lot of it. However, how each person end up seeing gambling or perceiving gambling is dependent on them.

I still believe that legalizing gambling is something that is not bad at all as it is better than seeing people try to do things hidden when they realize it is illegal and a lot of criminal activities can go on in that regards, but when it is legalized, the ability to control a lot of things will be there with regulations.

FlightyPouch

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Quote from: SoiledDove on October 10, 2018, 07:10:16 AM

India has a lot of changes to make to come into step with reality. The puritan-like banning of gambling was unhealthy. There has to be a concept of gambling for fun, without fear of losing your shirt. The concept of responsible gambling was needed. India will make a lot of money from this new attitude. I'm so glad about this.

That is the advantage of letting your citizens gamble. Yes, more gamblers might be addicted to gambling by legalizing gambling but the thing is that the government will be able to create great tax reforms on these casinos resulting on great improvements not only on the people but on the country as well. It is not bad legalizing gambling, in fact it is really great.

SoiledDove

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Quote from: avikz on July 12, 2018, 03:56:25 AM

On July 5th, Indian Law Commission recommended the government to legalize gambling and sports betting in India. Gambling in India was legal during the British time but the first independent government banned it. Since then Indian was turning blind eye towards the gambling sector. However, the picture may change in near future seeing the benefits it can bring to government.

1. Cricket betting in India is already a billion dollar market but completely unregulated and underground. Government is loosing millions of tax revenue
2. It has suggested classifying gambling into two categories, one is proper gambling with big money and small gambling for occasional gamblers
3. Eyeing to boost tourism sector with a huge foreign money turnover
4. Employment generation

Even though nothing has been finalized yet, but India has shown negative responses towards gambling earlier. However, currently the government is struggling to maintain the treasury deficit within the required limit. Also the changed Eco-political scenario and duty-war among the big economies has led India to think about increasing internal revenue. So things may change this time. Lets hope for the best!

News source 1:
https://blogs.timesofindia.indiatimes.com/toi-editorials/legalising-betting-in-sport-just-do-it/

News source 2:
https://timesofindia.indiatimes.com/sports/more-sports/others/allow-gambling-betting-on-sports-as-regulated-taxable-activities-law-panel/articleshow/64873545.cms

New source 3:
https://www.hindustantimes.com/india-news/legalise-gambling-and-betting-to-help-generate-revenue-jobs-law-panel/story-0oe6dPPdTbKEACaq9wyPYJ.html

India has a lot of changes to make to come into step with reality. The puritan-like banning of gambling was unhealthy. There has to be a concept of gambling for fun, without fear of losing your shirt. The concept of responsible gambling was needed. India will make a lot of money from this new attitude. I'm so glad about this.

Hiltohen

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Quote from: onrise on October 07, 2018, 01:21:10 AM

Quote from: ethereumhunter on August 25, 2018, 12:44:46 AM

maybe this will bring good things for Indian people but I hope that the government can think about the possibility their citizen become addicting in gambling. but I wonder what will happen later if there are many Indian people playing gambling and they use a big money to playing gambling and I hope that there will be no problem in that country as I know that their country has big populations that have strong religion.

Does not seems that this is even in the talks as India has currently many other things to look for and elections are on the way so everybody would be busy as no one knows what will happen and also the economy is take the financial toll as all markets are falling badly. So do not think they would in between want to do something like this.

Yeah there are unlimited sports bookies and betters in India and the government has legalized this gambling because they want to collect tax on this gambling. Sports betting became an industry in India and lots of people are part of this gambling. These gamblers earn millions of dollars from bookings all over the world. Indians are fond of casino gambling and sports betting.

Supercrypt

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Quote from: maydna on October 09, 2018, 01:55:10 AM

I guess this will makes Indian people can free to make bets in sports betting since this game attract a lot of people to place their money. And I think the government can also get more income by legalizing gambling and sports betting so they can increase their revenue in this section. But I wonder what will happen with the religion which I heard, they strictly prohibit their people from playing gambling but I don't know the truth. And soon, we will be going to see there are many sports betting site which will launch and the owner is people from India.

Well, it would be a start of more gambling spree and addicts as far as I am concerned.

I do not have anything against gambling, I only have a problem with more people who are gullible not to think straight and looking for what they should not be looking for in gambling, becoming more exposed to it and that would even keep telling on people who have so little to even live on end up wasting it away all in the name of trying to acquire wealth and riches from gambling, only to find out the reality the hard way and then getting out of it becomes a problem.

Moreover, it is not like it has been illegal right from onset, but at least, now that it has become legalized it shows where the government actually stands.

btcdevil

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Quote from: plescruslo on October 09, 2018, 05:31:53 AM

Quote from: rodskee on October 07, 2018, 05:35:22 PM

Haha i can believe this news is true not a joke
As i know indian government not allowing gambling in their country it's because against the indian religious
And if i'm not wrong indian government warning to their people to carefull using cryptocurrency because they compare gambling investment because of high volatile movement

In the whole world the biggest number of gambler are Indians. Gambling is a big industry in India and I think this is the main reason that the government legalized gambling there. Bookies may pay tax on their income and is it also good for their government. Gambling should not be controlled anywhere in the world, so it’s better to legalize it and impose tax on it.

Ya it is true that India is having a big gambling industry and in cricket IPL their is more then 10k Crore of value of trading is going on and that too illegally so think it it becomes legal then how much tax government can get through it.

plescruslo

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Quote from: rodskee on October 07, 2018, 05:35:22 PM

Haha i can believe this news is true not a joke
As i know indian government not allowing gambling in their country it's because against the indian religious
And if i'm not wrong indian government warning to their people to carefull using cryptocurrency because they compare gambling investment because of high volatile movement

In the whole world the biggest number of gambler are Indians. Gambling is a big industry in India and I think this is the main reason that the government legalized gambling there. Bookies may pay tax on their income and is it also good for their government. Gambling should not be controlled anywhere in the world, so it’s better to legalize it and impose tax on it.

maydna

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Enterapp Pre-Sale Live - bit.ly/3UrMCWI

I guess this will makes Indian people can free to make bets in sports betting since this game attract a lot of people to place their money. And I think the government can also get more income by legalizing gambling and sports betting so they can increase their revenue in this section. But I wonder what will happen with the religion which I heard, they strictly prohibit their people from playing gambling but I don't know the truth. And soon, we will be going to see there are many sports betting site which will launch and the owner is people from India.

supermine

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Quote from: rodskee on October 07, 2018, 05:35:22 PM

Haha i can believe this news is true not a joke
As i know indian government not allowing gambling in their country it's because against the indian religious
And if i'm not wrong indian government warning to their people to carefull using cryptocurrency because they compare gambling investment because of high volatile movement

In India gambling is not illegal,some form of games were prohibited and betting on those games is crimes there,sport betting absolutely legal there even they have many apps for gambling where we can easily play with our fiat money by linking our bank account there and most used games is cricket and football and MS.Dhoni is the ambassidar for that app I think.

Questat

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Quote from: Pettuh4 on October 08, 2018, 04:44:59 PM

Quote from: BALIK on October 07, 2018, 05:59:35 PM

Looking at the effects of gambling on civilization, I would say it's not a wise move to make it legal after having it illegal for so long.

Personally, I think that gambling should be controlled such that people cannot lose their life savings over it. Many of the people who take such risks are not mentally competent to understand the risk they are taking, thus when they lose it is hardly their fault.

I would love to see some more humanitarian casinos that do the right thing, rather than being all for profit sometimes.

t

I think legalizing sports betting alone would be better than legalizing all forms of gambling because sports betting seems to be a little bit controlled than hard core gambling in the casinos which could ruin an individual completely. I don't think many sports bettors stake high enough to explain bale to ruin a home like at the casinos and so legalizing that lone would have been perfect.

There is no problem with legalizing gambling because it's just a form of entertainment and it could give a little boost to the economy especially
if more investors will operate, as long as it's properly regulated and the rules applied strict for the benefit of all, there would be no problem.
Right now, it's easy to bypass illegal rules on gambling because blockchain is here.

Pettuh4

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Activity: 812

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Quote from: BALIK on October 07, 2018, 05:59:35 PM

Looking at the effects of gambling on civilization, I would say it's not a wise move to make it legal after having it illegal for so long.

Personally, I think that gambling should be controlled such that people cannot lose their life savings over it. Many of the people who take such risks are not mentally competent to understand the risk they are taking, thus when they lose it is hardly their fault.

I would love to see some more humanitarian casinos that do the right thing, rather than being all for profit sometimes.

t

I think legalizing sports betting alone would be better than legalizing all forms of gambling because sports betting seems to be a little bit controlled than hard core gambling in the casinos which could ruin an individual completely. I don't think many sports bettors stake high enough to explain bale to ruin a home like at the casinos and so legalizing that lone would have been perfect.

BALIK

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🍓 BALIK Never DM First

Looking at the effects of gambling on civilization, I would say it's not a wise move to make it legal after having it illegal for so long.

Personally, I think that gambling should be controlled such that people cannot lose their life savings over it. Many of the people who take such risks are not mentally competent to understand the risk they are taking, thus when they lose it is hardly their fault.

I would love to see some more humanitarian casinos that do the right thing, rather than being all for profit sometimes.

rodskee

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Haha i can believe this news is true not a joke
As i know indian government not allowing gambling in their country it's because against the indian religious
And if i'm not wrong indian government warning to their people to carefull using cryptocurrency because they compare gambling investment because of high volatile movement

pixie85

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Activity: 2184

Merit: 531

If they do it it will be good for everyone. The economy will get a boost with new businesses paying taxes and we know that gambling means huge money and huge money mean huge taxes. People will be allowed for some more freedom which is also good. The less bans from the government the better it's a general rule that works every time.

supermine

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Quote from: avikz on October 07, 2018, 11:05:29 AM

Quote from: onrise on October 07, 2018, 01:21:10 AM

Quote from: ethereumhunter on August 25, 2018, 12:44:46 AM

maybe this will bring good things for Indian people but I hope that the government can think about the possibility their citizen become addicting in gambling. but I wonder what will happen later if there are many Indian people playing gambling and they use a big money to playing gambling and I hope that there will be no problem in that country as I know that their country has big populations that have strong religion.

Does not seems that this is even in the talks as India has currently many other things to look for and elections are on the way so everybody would be busy as no one knows what will happen and also the economy is take the financial toll as all markets are falling badly. So do not think they would in between want to do something like this.

This is sad but true! The stock market is heavily falling on each trading day and the value of Indian Rupee is also weakening against dollar. Also rising fuel cost is taking another chuck from the current account deficit. It seems like all bad omen is currently focusing on the Indian Stock market. It is the result of 4 years of financial wrongdoings by the current government. That is also pushing the talks regarding gambling behind as the priority has now changed.

Indian governments were very slow in implementing the new rules because they always need to look for their political parties and election works and as you said the prime minister of India now hated by most of the Indians who is living all around the world for bad government management and religious activities as their main priority than national issues.Indian economy is collapsed at the moment for historical price increase in the fuel prices so this time they don't have much time to look out for gambling decisions.

avikz

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Quote from: onrise on October 07, 2018, 01:21:10 AM

Quote from: ethereumhunter on August 25, 2018, 12:44:46 AM

maybe this will bring good things for Indian people but I hope that the government can think about the possibility their citizen become addicting in gambling. but I wonder what will happen later if there are many Indian people playing gambling and they use a big money to playing gambling and I hope that there will be no problem in that country as I know that their country has big populations that have strong religion.

Does not seems that this is even in the talks as India has currently many other things to look for and elections are on the way so everybody would be busy as no one knows what will happen and also the economy is take the financial toll as all markets are falling badly. So do not think they would in between want to do something like this.

This is sad but true! The stock market is heavily falling on each trading day and the value of Indian Rupee is also weakening against dollar. Also rising fuel cost is taking another chuck from the current account deficit. It seems like all bad omen is currently focusing on the Indian Stock market. It is the result of 4 years of financial wrongdoings by the current government. That is also pushing the talks regarding gambling behind as the priority has now changed.

onrise

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Activity: 1512

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Quote from: ethereumhunter on August 25, 2018, 12:44:46 AM

maybe this will bring good things for Indian people but I hope that the government can think about the possibility their citizen become addicting in gambling. but I wonder what will happen later if there are many Indian people playing gambling and they use a big money to playing gambling and I hope that there will be no problem in that country as I know that their country has big populations that have strong religion.

Does not seems that this is even in the talks as India has currently many other things to look for and elections are on the way so everybody would be busy as no one knows what will happen and also the economy is take the financial toll as all markets are falling badly. So do not think they would in between want to do something like this.

Topic: India to legalize gambling and sports betting - page 3. (Read 998 times)