Topic: India to legalize gambling and sports betting - page 5. (Read 998 times)

Wow it’s nice that they are supporting and legalising it. I’m up for the employment increase in their land and I know that there are a lot of people that need jobs and basically it’s a great opportunity.

Whenever I think of gambling, here in asia, is Macau. And it has become an attraction and bring more people which is good for the country too. Great move. Overall I think it’s a good move legalising it and hopefully there are acts with addiction too.

India is famous in sport betting and players manipulations. There are bookies that are activated in different areas and they contact with players and this game becomes so strong. Even sometimes officials from national cricket boards are on this plate too. They all compounded to make this happen. So India is already suffering from this disease.

Its also about unifying the country and allowing business to take place under common ground.   If the common law is to have no income taxes then so be it but if regulation is uneven and favours criminal powers and influence then nobody is benefitting from what could be higher employment distributed evenly by the most competitive and efficient industry.  If the bias is crime and violence then of course gambling becomes viewed negatively



Its a pointless ban, this business is also lost abroad also.   India is changing a number of bad points like this recently to unify the country, it could be a great turn around for one of the largest and potentially most powerful nations on earth.   Good for everyone really if they put their house in order

In India they raise all these moral objections to new innovations at first.  Ultimately, what makes money for the country will win. That's one thing I've always noticed.  I have a strong relationship with that country.

Yes,India is one of the most populated country of the world where we have more people related to gambling as well so from legalizing the crypto gambling in that country they can make lot of revenue early like you said IPL where more money involving every year through illegal gambling.

It is pertinent to note that, this committee has been formed under the watchful eyes of their Highest Court i.e. The Supreme Court of India. The atmosphere in the Asian country has changed drastically, from being sceptical towards the usage of crypto currency, it seems they're keen on taking a more open minded approach which could have a major effect on the prices, as Indians love gambling and are cricket loving people, the stats speak for themselves with high amount of bets being placed during popular cricket tournaments i.e. IPL. This is a welcome move by the Asian country and could lead to more gambling sites tailoring for India.

Everyone have read the story half that India has formed a legal board to look on the gambling and sports betting to be cashless with virtual currency (bitcoins and other crypto currency) So it clearly means that they are making crypto currency legal in the form of gambling and sports betting and not in other aspects

https://inc42.com/buzz/cryptocurrency-this-week-law-commission-of-india-favours-gambling-in-bitcoin-and-more/

https://news.bitcoin.com/indian-government-crypto-means-of-payment/

It is just a legal Board formation directed by the supreme court of the Indian country.

Correct and that's exactly the reason for Indian government behind this thinking. People are gambling on every sports that are played in India but the governemnt is not making any money out of it. They will impose heavy taxes on gambling if they legalize it after all debates.

Cryptocurrency gambling is not within the scope itself because government has already informed that cryptos will not be considered as a legal tender in India. But I think Indian government is taking one step at a time. Cryptos will have to be legalized eventually just to cope up with the other countries.

I become far from clear the policy of India, if they legalize it all. After all, the country itself is an ancient culture, and so will be a lot of gambling and debauchery. Maybe I missed something. 

Governments sometimes start regulating these things to avoid illegal activities. Currently, the very huge amount of Illegal betting happening in IPL matches in India and the government knows it is not possible for them to completely stop so they want to regulate it to avoid illegal activities.

Even though they allow gambling but don't think they will allow crypto gambling because they already put restrictions on crypto trading so it will be fiat gambling activity.

That seems to me like a very desperate step towards increasing internal revenue. India surely has serious economic issues as a developing country, but I don't think gambling will change the situation, only due to foreign money turnover, especially considering the fact that the number of FTAs in India keeps increasing and has crossed the 10-million mark in 2017. However, the population in India is about 1.4 billion, so the foreigners make up only about 1%. While 80% of India population are professing Hinduism and gambling is specifically forbidden according to the most ascetic Hindu practices, even though there is no "sin" concept, ideas of karma influence the general attitude towards gambling for entertainment. Not even speaking of the poverty situation, 30% are extremely poor, while about 40% certainly aren't that rich to gamble as well.

Sources:
https://en.wikipedia.org/wiki/Poverty_in_India

https://timesofindia.indiatimes.com/india/foreign-tourist-arrivals-hit-new-high-of-one-crore-earnings-cross-27-billion-mark/articleshow/62531855.cms

https://www.gambleonline.co/religious-views-of-gambling/

Government won't benefit much or at all from this. There are so much corruption in India, legalizing gambling won't take them anywhere. Its not the sport that is at disgrace, its the fucking people. Illegal betting and blackmarketing is prevalent in every country.

Even if betting is regulated, those people who these bettings underground won't show up. They'd still be doing what they used to. Indian government is considered to be a joke, by a lot of people,in and out of the country. They need to do more than just legalizing it.

It is underground and because the banks in India block the gambling sites from accepting money, can be up and down depending on the transaction type. Same with Paypal and neteller going going down. When covering the India online gambling situation, we noticed Bet365 is still popular with some but it keeps getting blocked from taking Rupee's for sports betting.

Everyone will eventually switch to crypto gambling even when there is legalized offers because the regulated offers will probably betting limits, bad promotions, taxes on winnings and/or bad sports betting odds.

I don't understand why you've said "Mostly Indians are criminal and the government decides to control crimes by this way.". Indian underground gambling market is huge but, that doesn't mean mostly Indians are criminals. There are times Indians were addicted to gambling. To control it govt. implemented laws. However, it didn't stop gambling.

I think India is the only Asian country that accepts gambling and sports betting. They know that there are very big bookies in India and they bet on sports with a very high range, that why they request Indian government that sportsgambling should be legalized in India and they will pay tax on sportsgambling. Mostly Indians are criminal and the government decides to control crimes by this way.

"The government will make millions" is normal and logical thinking but what we have to remember is gamblers in India will have two options:

1. Gambling with a Regulated and TAXED gambling site in India.
2. Gambling with a Non-Regulated and Non-TAXED gambling site in India.

The increase of Bitcoin adoption in India and bitcoin gambling sites available currently, means the government has to also "allow" legal gambling be competitive with Bitcoin Gambling sites.

The sports betting and casino sites in a regulated market have lower profits compared to the crypto gambling sites because there are licensing fee's and more staff needed to  ensure compliance with regulation. Look at the UK gambling regulators fines the last few months, to see why crypto gambling is EASIER than following the regulations of governments. Gambling sites are EASY for politicians to pick on and assume they can pay more than they already do, this is what creates the unregulated and regulated systems in gambling.

If someone wants the "best" sports betting odds, it is most likely going to be offered on a non-regulated gambling site because they have a higher profit margin without being regulated or licensed. People WILL play on the regulated casinos obviously but the regulators will have to try to stop the crypto gambling sites from allowing India residents, which isn't easy.

Yes, there are benefitd which it can bring to goverment but this is a country where there are a lot of peoples and almost all of them are very poor. Goverment has to focus on more major tasks rather than this. When there are poor people, their hope of becoming rich quickly is gambling. So this will cause fatal problems, at least it's my mind and many times proven in poor countries, casinos become top here everytime.
If they want it for tourists, then what about to make them open in very famous places for only non local citizens?

I think that this will defiently enhance the gambling scean in India as if people were not already doing it in the first place under the table, and I am pretty sure that this will lead to many new online gambling sites immerging and bring created from India, and not only that I think that who ever is gonna start a gambling sites will start it their,  since the government will start supporting it, and might even lead to improving the economy.

Sports betting is quite legal in so many countries which will not make huge dent in the world however owning a good sports betting company in India where over a billion people lives is quite profitable sounding business. Also if gambling as in las vegas or monaco type gambling becomes legal than maybe online gambling might get available too in which case tech companies love India and outsource stuff all the time to India and they may make an online gambling website based in India as well.

Well, what can they do when their people is addicted to gambling right? Instead of wide ban or stopping of the Gambling businesses, they should take advantage of it to be helpful in their country. I am not saying that gambling can help a country but the gambling places are a great way to get taxes. In our country, casinos give great taxes to the government since not only it can generate large profit but it also attract a lot of people.