Sports betting operators around the world will be paying special attention to India as the push to legalize sports betting continues to gain momentum. Anurag Thakur, Minister of State (MoS) for Finance is a big name in Indian politics. He is the latest Member of Parliament (MP) to call for sports betting to be made legal in India.
The biggest sport in the land of 1.3 billion people is the game of cricket. Even though sports betting is banned in India, the illegal betting business is a huge racket in India. The sport of cricket has been significantly impacted during the last two decades so much so that millions of Indian fans have lost interest in the game because they know that match fixing is rampant.
Anurag Thakur believes its time to clean up the game of cricket and sport in general. Thakur is the former president of the Board of Control for Cricket in India (BCCI) and knows first-hand how the game has been tarnished due to illegal betting and match fixing.
Thakur said that the best way to stamp out match fixing and illegal betting in India is to pass a new law that will legalize sports betting across IndiaMassive Pros To Legalize Sports Betting
Thakur said that India could create a massive sports betting industry by repealing the sports betting ban. The government would benefit greatly by generating significant revenue from the issuance of sports betting licenses and betting taxes.
The industry would also create a significant number of jobs and cause foreign sports betting operators to invest in India and establish a physical presence in the country. The government could use this additional revenue to develop cricket and other sports in India as well as fund a number of other important projects.
A legalized betting market would also make it easy for the BCCI to monitor sports betting action at its licensed sportsbooks and see if there is any unnatural activity/ spike in betting. If this happens, it will alert the authorities who can then take a closer look at the game in question and see if there is something fishy going on.
One of the biggest challenges to sports betting legalization in India is the opposition from religious groups who believe that sports betting will have a negative impact on Indian society.
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