Law Commission has proposed to allow gambling and betting on sports as regulated taxable activities. It recommended that gambling and betting on sports like cricket must be legalized.
The panel suggested that the ban on these activities to be lifted so as to generate tax revenue and also curb black money circulation.
Supreme Court had ordered the panel headed by Chairman Justice BS Chauhan in a hearing for a case of Board of Control for Cricket in India.
The panel in its report stated that gambling and betting as one of the prime factors in black money circulation in the economy and regulation of the activities rather than complete prohibition will benefit the government.
Interestingly, the commission quoted Mahabharata’s dice game as an example.
If gambling and betting comes under legal framework then Rummy, IPL bettings, horse racings, Casinos and online gaming will flourish and punter will be another profession like any other white collar one. Of course, the activities will taxed under GST.
As known, Telangana government has prohibited rummy clubs and online games in the state. If the movie comes into real then all the clubs shall be reopened.
Will cock fights held in Telugu states especially in coastal districts also get legalized is a million dollar question.