The Indian Ministry of Sport prepares the ground for legislation reform for the legalization of sports rates.
Ministerial representatives have previously begun to hold consultations with local stakeholders and attracted British sports rates market professionals, local media reported.
The legalization project is long-term, the development of the rules can take from 2 years and longer, only the first developments in developing the basis for the reform of legislation in the industry are carried out. It is planned to sign a memorandum with England. Representatives of the British authorities examined their industry’s work system will consider whether it is possible to apply the British scheme in India.
This idea originated from the Government of India due to the rapid heyday of the illegal market of the bookmaker’s office, offshore websites, 150 billion USD – the illegal industry is estimated in such a figure now. In the country only rates on jumps have a legitimate basis.
Representatives of the India authorities reported that they intend to use taxation in this industry on development, precisely, sports, on a high centralized stage. An example for Indian project creators is the United Kingdom, which with the help of online betting and the development of lotteries has improved the funding for sports. The Indian Department wants to enlist the support of the English side through the signing of a certain agreement on understanding.
Perhaps India takes the first step in the legalization of the Azart industry and slot machines and the casino will soon be legalized.