Indian gambling expert backs new bill

The member of the Indian parliament, Shashi Tharur, proposed a bill in the lower house that sets the rules for sports betting and for holding matches. Jay Sayta, an expert in the Indian gambling industry, commented on possible innovations.

Sayta believes that if the bill will be adopted, it will be able to ensure the integrity of the sport. That, in turn, will benefit sports federations, sports enthusiasts and the entire sports industry.

Regulation of online betting will benefit companies which are trying to innovate in this area. It will also benefit consumers by providing them with a higher-quality product and will benefit the state treasury by allowing to use taxes from the gambling business for public use,” - the politician specified.

Indian state authorities set local gambling laws, most of which do not regulate online gambling. At this moment unified federal legislation in the country is not adopted yet.

The new legislation, according to the Sayta, is good because regulators will be able to track the suspicious dynamics of bets and investigate such cases. In addition, taxes from the gambling business can be aimed at solving social problems, and not settle on the accounts of illegal bookmakers.

The bill also involves attracting foreign direct investment, which, in turn, will create a competitive environment and bring experienced gambling operators to the market.

Suggested Reading - China will tighten penalties for illegal gambling