The Sports Ministry has started the groundwork to frame a legislation to legalize online sports betting in India. Informal consultations have already been held with various stakeholders in the government. But then, it may take at least two years for the ministry to prepare a draft.
The UK has one of the most effective gambling laws. The Sports Ministry is also likely to seek assistance from its counterparts in the UK to understand their system and see if it is possible to introduce it in India. At present, betting is legal only in horse racing, and it is taxed at 28 per cent under GST.
According to Doha-based International Centre for Sports Security, the illegal betting market in India is worth $150 billion, or roughly 9.6 lakh crore. The government feels legalizing it will be beneficial for the economy as well as the country.Don't Miss'Saaho' Makers Didn't Narrate Entire Story to Anybody!!!Malayalam actor Lal is the latest addition to 'Saaho' team. Besides sharing...Don't MissActress Exposes Enough to Drive Social Media CrazyFitness Challenge is trending on the internet now with all the celebrities...Don't MissIndian Women Are Ahead of Men in Losing VirginityResults of The National Family Health Survey revealed a shocking stat regarding...Don't MissFlash: Historical Combo Back For Legend BiopicThere were rumours from the past few days that director Krish is...Don't MissDinosaurs Not Afraid Of Kaala - Set Date To Date ClashThe Dinosaurs of The Jurassic World are not afraid of the Superstar...
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