Let's legalize Gambling in India


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Let's legalize Gambling in India

  1. 1. Let’s legalise gambling !
  2. 2. Presented by Aditi Alankar Atul Deepak Gurinder JayatiSharma – Das – Nirala – Bajaj - Singh - Roy - 214 184 190 196 202 208
  3. 3. Origin of gamblingGambling part of our ethos since ancient timesDuring the Mahabharata period, there is reference toPandavas playing game of dice with KauravasSimilarly during Diwali, Indians in many parts of countryindulge in some sort of gambling activitiesCurrently, gambling through lottery tickets and horseracinglegal in India
  4. 4. What is gambling ?It’s certainly true, that uncontrolled gambling oraddiction of gambling is really bad habitBut it depends on individuals and how onegamblesBetting /gambling means making or accepting ofbet on the outcome of a race, competition orother event or process; the likelihood of anythingoccurring or not occurring
  5. 5. continued….As per definition, gambling is a chance activitywith monetary value attached(money or moneyworth)It includes sportsbetting, lottery, Bingo, casino, poker, horseracingand other games that might end up making orlosing money for those who play itStakes can also be placed on activities like a war, amovie, the elections, TV shows, celebrities, etc
  6. 6. Gambling is everywhereWorldwide, gambling is important source of economic activity & alsoof employment.People in countries such as United Kingdom, Italy, etc indulge in thegambling activity for fun, pleasure and relaxationIn terms of output and employment, in UK gambling industrycontributes significantlyEconomic impact of betting industry, in terms of direct and indirect influence, is tothe tune of 6 billion pounds ($9.3 billion) & it also supports over 100,000 jobs inBritish economy
  7. 7. Countries where gambling is legalised…….• United States• United Kingdom• China• Singapore• Thailand• Nepal• And Goa in India
  8. 8. Why legalise gambling ?In India, gambling-related activities could be marketed as pleasureor fun part of tourist activitiesSingapore and Thailand compared to India are able to attract moreinternational touristsSome hotels in a few, selected important tourist centres in India -like Agra, Jaipur, or Delhi, etc - should be allowed to operate casinosThis can help attract more foreign tourists and valuable foreignexchange
  9. 9. How ?Gambling laws in India are outdated & unclearIndia needs set up national level gambling regulatory authority onlines of UK gambling commission to regulate gambling marketThe growth of gambling industry can have positive, multipliereffect on other sectors - such as making casino games, softwaretesting, real estate, advertising, banking andfinance, hotels, cruises, pubs, etc
  10. 10. Benefits of legalisation of gamblingIf gambling is legalised in a controlled manner in India, croresof rupees in black money involved in illegal gambling activitycurrently could be made available to the legal economyThe Indian economy is already losing this precious revenuewhether betting is legalised or notThere is no doubt that potential of gambling industry in India isvery hugeIndia with her young population, robust economy & an almostsuperpower status in IT provides positive factors for growth ofgambling industry
  11. 11. continued.......It’s upto policy makers & Indian government to provide right legalframework & appropriate policies to tap huge potential of gamblingindustry in IndiaGambling in India is quite rampant, be it related to elections orsports, even though it’s considered a social evil by mostWithout a strong regulatory structure to oversee this illegalactivity, government loses huge amount of revenue that could be putto better use - like building schools, hospitals, infrastructure, etcPerhaps, it’s time we shed our reticence on the issue
  12. 12. ConclusionGambling: the way of getting everything from something !