Legalization prize ahead for sports betting in India

    Published in: Latest IntelligenceGiven its size and complexity, legalization of sports betting in the Indian market could be a game changer with potential revenues upwards of $60 billionIn a country of more than a billion people, it has the potential to create a market as large as $60 billion (Rs300,000 crore) in size, says the Federation of Indian Chambers of Commerce and Industry (FICCI), apart from generating employment, adding revenues to state government coffers, and curbing money laundering activities.For the second year in a row, FICCI held a conference in New Delhi to discuss the legalization and regulation of sports betting in India. Sports betting has thus far been limited to horse racing and some state-organized lottery offerings in India. State-run lotteries are distributed under a Lotteries Act of 1998, while horse racing has been ruled as a skill-based activity by the Supreme Court of India.The size of these...

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