Industry body, Federation of Indian Chambers of Commerce and Industry (FICCI) has welcomed the suggestion to legalize betting in India raised by the Justice R.M Lodha Committee in India, local media reports.
FICCI has been advocating the legalization of sports betting in India for the past four years, pushing their agenda with federal and state governments.
FICCI asserts the revenue earned from betting can be utilized to improve infrastructure for other sports and enhance tourist facilities.
“In countries like the UK and China, the funds from sports betting are used for financing elite sports and training athletes,” Ficci said in a statement.
The Lodha-Committee report also recommends changes to prevent sporting fraud and match fixing, which FICCI believes is a much needed change to the industry.
“Sports betting and frauds have been affecting the credibility of sports in the country. After frequent incidents of sports fraud around sports betting, in 2012, Ficci had launched the debate on regulating sports betting in India.” the industry body said.
FICCI says the issue should be discussed with the stakeholders in the sports sector before tabling any Bill in Parliament for debate.