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 MissPolitical Comment Makes Kalyan Ram UneasyMost of the times, Posani Krishna Murali is instinctive and doesn't think...Don't MissBy and By Ram Charan's Lungi Became a ComfortTo be frank, it has been eons since we have seen a...Don't MissRangasthalam - Right Film At The Right TimeThe movie Rangasthalam starring Mega Powerstar Ram Charan is arriving in cinemas...Don't MissPic Talk: Custom Made Baahubali Hot Item GirlNNot everyone is confident enough to say that she/he is a custom-made...Don't MissPopular Media House Fell for Fake 'Wink Circular'Priya Prakash Varrier's wink act went viral across the country and that...
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