Let’s legalise gambling !

Presented by

Aditi Sharma –

184

Alankar Das – 190

Atul Nirala –

196

Deepak Bajaj -

202

Gurinder Singh -

208

Jayati Roy - 214

Origin of gambling

Gambling part of our ethos since ancient times

During the Mahabharata period, there is reference to Pandavas playing game of dice with Kauravas

Similarly during Diwali, Indians in many parts of country indulge in some sort of 'gambling' activities

Currently, gambling through lottery tickets and horseracing legal in India

What is gambling ?

It’s certainly true, that uncontrolled gambling or 'addiction' of gambling is really bad habit

But it depends on individuals and how one 'gambles'

Betting /gambling means 'making or accepting of bet on the outcome of a race, competition or other event or process; the likelihood of anything occurring or not occurring

continued….

As per definition, gambling is a 'chance' activity with monetary value attached(money or money worth)

It includes sports betting, lottery, Bingo, casino, poker, horseracing and other games that might end up making or losing money for those who play it

Stakes can also be placed on activities like a war, a movie, the elections, TV shows, celebrities, etc

Gambling is everywhere

Worldwide, gambling is important source of economic activity & also of employment.

People in countries such as United Kingdom, Italy, etc indulge in the gambling activity for fun, pleasure and relaxation

In terms of output and employment, in UK gambling industry contributes significantly

Economic impact of betting industry, in terms of direct and indirect influence, is to the tune of 6 billion pounds ($9.3 billion) & it also supports over 100,000 jobs in British economy

Countries where gambling is legalised…….

• United States• United Kingdom• China• Singapore• Thailand• Nepal• And Goa in India

Why legalise gambling ?

In India, gambling-related activities could be marketed as 'pleasure' or 'fun' part of tourist activities

Singapore and Thailand compared to India are able to attract more international tourists

Some hotels in a few, selected important tourist centres in India - like Agra, Jaipur, or Delhi, etc - should be allowed to operate casinos

This can help attract more foreign tourists and valuable foreign exchange

How ?

Gambling laws in India are outdated & unclear

India needs set up national level gambling regulatory authority on lines of UK gambling commission to regulate gambling market

The growth of gambling industry can have positive, multiplier effect on other sectors - such as making casino games, software testing, real estate, advertising, banking and finance, hotels, cruises, pubs, etc

Benefits of legalisation of gambling

If gambling is legalised in a controlled manner in India, crores of rupees in black money involved in illegal gambling activity currently could be made available to the legal economy

The Indian economy is already losing this precious revenue whether betting is legalised or not

There is no doubt that potential of gambling industry in India is very huge

India with her young population, robust economy & an almost superpower status in IT provides positive factors for growth of gambling industry

continued.......

It’s upto policy makers & Indian government to provide right legal framework & appropriate policies to tap huge potential of gambling industry in India

Gambling in India is quite rampant, be it related to elections or sports, even though it’s considered a social evil by most

Without a strong regulatory structure to oversee this illegal activity, government loses huge amount of revenue that could be put to better use - like building schools, hospitals, infrastructure, etc

Perhaps, it’s time we shed our reticence on the issue

Conclusion

Gambling: the way of getting everything from something !