Legalise sports betting in India as it would generate huge revenue: Ravi Shastri

Dec. 24: Ex-Team India head coach Ravi Shastri said that sports betting should be legalised in India as it will generate tremendous revenue for the government. “Tax-wise, it’s the way of the world at the moment,” added Ravi Shastri. Sports betting is illegal in India as of now. Despite it being a punishable offence in India, every year hundreds of people indulge in illegal sports betting, placing bets through illegal channels, hurting the Indian economy a great deal.

The more you try to shut it down, the more it will be in your face through alternate channels. I think it’s extremely important that it should be legalized in a proper way and it’s a good platform for things to be done officially and properly,” Shastri said at the e Adda organised by The Indian Express.

Not just in India, illegal betting is a menace that has plagued the sporting community across the globe. According to a report from the United Nations Office on Drugs and Crime, the global illegal sports betting market is expected to touch $1.7 trillion annually, which is more than thrice of the legal sports wagering market which currently stands at $40 billion.