MUMBAI: Legalising and regulating gambling and betting will create employment opportunities as well as help government earn huge revenue from the sector, experts said at the All India Gaming Summit held in New Delhi on 24 October.
Law Commission Chairman Balbir Singh Chauhan said the issue of gambling and betting had to be addressed by experts of the industry and that the Law Commission would welcome their opinions and incorporate them in its report. However, responsibility of ensuring welfare and safeguarding the interests of the vulnerable sections of society should be kept in mind while regularizing betting, experts said at the summit organised by the All India Gaming Federation.
The summit addressed topics such as ills of the present system, issues and challenges and self regulation in skill gaming.
Rajya Sabha Member and senior advocate of the Supreme Court K.T.S. Tulsi said if betting was legalized and regulated, it would provide direct employment to 5,70,000 people and indirect employment to millions. “Besides, government can earn huge revenue by legalizing the sector. For example, on a turnover of Rs 1,50,000 crore, the government can earn a TDS of Rs 4,500 crore,” an IANS report quotes him as saying.
Sarika Bijen Patel, Commissioner of UK Gaming Commission, said that the UK’s gambling laws were very comprehensive and included both betting and gambling. Phil Harisson, Regulator at Gaming Laboratories International (Australia), said it was impossible to restrict gambling and hence regulation was the best solution.
