Posted by: Vivek Kumar
Legalized Sports Betting in India: The Process Is On | Sports Betting in India
Indian Government on biggest sports reform ever introduced, framing new guidelines to make sports betting and gambling in India as a legal activity. Sports betting in India is a massive market, says international Centre for sports security. it can bring in lakhs of crores in tax revenues if sports betting in India is legalized.
On Thursday the Law Commission of India has recommended for the legalization of regulated sports betting in India. Sports Ministry of India has taken the initiative and is right now consulting with other countries where sports betting is legal such as the UK. The countries where sports betting is legalized generates a substantial amount of taxable income for the Govt.
Sports Betting in India should be Legalised?
As sports betting in India is heavily restricted except for selective categories including lotteries and horse racing. Despite the existing prohibitive legislation, there is extensive illegal gambling and sports betting throughout the country. for example, IPL betting is banned, people are anyways betting, and betting huge.
The UK has emerged as the hub of betting experts from India. Also, there is a lot of Mobile Applications where a user can bet. Mobile Apps like BET365 and Betfair have more than 10 lakh active users, who are regularly betting on various sports events, including cricket.
Sports Betting in India: Boom for Mobile Game Development Companies
If sports betting in India is going to be legalized it will be a great boon for mobile game development companies and Indian Govt. Sports betting in India is booming as an unorganized sector and Govt. is losing out an opportunity to earn tax from sports betting.
Generated revenue can be used to fund the economically backward section of the society, and empower them to play sports professionally, and skilfully.
We are all aware that the numbers of sports enthusiasts have multiplied over the years. The sports industry is known for forming tight communities that unite members of sports teams, sports industry professionals and fans. Today, these communities thrive within mobile apps. Sports clubs and teams of professional players investing in sports Mobile game app development with the idea that will benefit all members of their community.
Mobile application development companies have developed many apps likes BET365, Betfair and Fantasy Magnet that unite members of sports teams, sports industry professionals and fans. If you have any idea related to this, get in touch TechGropse, Top Mobile application development company.
Do you think that betting should be legalized in India? Do let us know by commenting right here!