Caught this interesting article in the Economic Times:
Quite a serious problem, huh? Especially considering the amount of money which is being circulated around but what is the solution to this? Why not follow suit and legalise the entire online gambling business similar to what the U.K. and the Caribbean have done? Atleast, countries would then stand to benefit from the revenues generated through online gambling (in terms of taxes). Along with the legalisation of gambling, make betting on sports, especially cricket, legal too! According to some reports on the Internet, the current IPL season has seen betting activities to the tune of Rs. 4,000 crore!
Legalise them and then tax them and subsequently pass on the tax benefits to the common people (and this time in equal amounts to either genders :-) ). Try as hard as they may, governments will never succeed in truly eradicating betting and gambling, so why not profit from this burgeoning industry? Atleast, legalisation provides the governments with a way to regulate and profit from the revneues generated by this industry - As they say, if you can't fight them, then join them! :)
The rapidly mushrooming number of illegal sports betting websites is
heightening concerns among authorities about global corruption, money laundering
and gambling addiction.
There are now an estimated 15,000 such sites on the World Wide Web,
including some 13,000 illegal ones, shuffling around $23.6 billion a year,
according to the authorities.
[---]
Declan Hill, a journalist and British expert on the problem, says the
amount of corruption in global sports has increased almost 100-fold in the past
five years thanks to Internet-based gambling.
"Ten years ago, national lotteries controlled 100 per cent of the sports
(betting) market," Hill said.
Quite a serious problem, huh? Especially considering the amount of money which is being circulated around but what is the solution to this? Why not follow suit and legalise the entire online gambling business similar to what the U.K. and the Caribbean have done? Atleast, countries would then stand to benefit from the revenues generated through online gambling (in terms of taxes). Along with the legalisation of gambling, make betting on sports, especially cricket, legal too! According to some reports on the Internet, the current IPL season has seen betting activities to the tune of Rs. 4,000 crore!
Legalise them and then tax them and subsequently pass on the tax benefits to the common people (and this time in equal amounts to either genders :-) ). Try as hard as they may, governments will never succeed in truly eradicating betting and gambling, so why not profit from this burgeoning industry? Atleast, legalisation provides the governments with a way to regulate and profit from the revneues generated by this industry - As they say, if you can't fight them, then join them! :)
No comments:
Post a Comment