Published
Legal & Regulatory

India takes the first step towards the legalisation of sports betting

Indi

indiaa
a’s Sports Ministry has begun drafting a piece of legislation that would legalise online sports betting in the country.

Reportedly, informal consultations are already being held with various stakeholders in the government.

Sports betting is illegal in India with the only legal exception being horse racing, which is currently taxed at 28%. The illegal betting market in India is worth a staggering $150bn and the government have been eager to implement a regulatory framework.

Even though most of this business is done through local bookmakers and unregulated offshore websites, the ministry believes making it legal could be a major boost for the economy.

Government officials have also expressed an interest in seeking assistance from its counterparts in the UK.

Sports Secretary Injeti Srinivas is likely to sign a Memorandum of Understanding in which online sports betting will be one of the key points. He comments: “The UK has one of the most effective gambling laws. We hope to understand their system and see if it is possible to introduce it in India. The UK has overcome this (poor funding) through lottery and online betting.

“The department is preparing a Memorandum of Understanding with the UK and the aspect of betting will be included therein in order to understand the mechanism and evolve a view on the possibility of its introduction in India.

“However, it can be beneficial to the economy as well as sports overall. We are looking at the best international practices in sports integrity and ethics framework.”

Although the process is currently underway, it may take at least two years for the ministry to prepare a draft.

Asia News Sponsor
Premium+ Connections
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Chicken Ranch Casino
The Responsible Gambling Affiliate Association (RGAA)
Catena Media
Gambling Commission
Follow Us
The most prestigious Awards in the industry are heading to the Philippines! The Global Gaming Awards Asia-Pacific will recognise and reward (as the name suggests) the strongest performers from the Asia-Pacific gaming industry across the previous 12 months.
This year's winners will be announced at a luncheon ceremony on Day 2 of SiGMA Asia, 4th June, in Manila.
The eleventh annual Global Gaming Awards Americas will recognize and reward the gaming industry's strongest performers across the previous 12 months. These are the most prestigious and trusted Awards in the industry and have gained respect amongst industry heavyweights, due to the strict rules and procedures put in place.

Facing Facts: Operator Q3s from across the globe

Gambling Insider compares Q3 2023 results from major gamblin...

Taking Stock: Operators and suppliers across the world

Sticking with our theme of gambling across the globe, Gambli...

CEO Special: Jade Entertainment and Gaming CEO Joe Pisano - down to earth

Jade Entertainment and Gaming CEO Joe Pisano speaks to Gambl...

CEO Special: Betfred CEO Joanne Whittaker - saying it as it is

Betfred CEO Joanne Whittaker joins Gambling Insider Editor T...