Business Economic & Services Team (BEST)
Allow Cricket Betting to Rake in More Revenue
Cricket is a passion in India. it is equally a hotbed of politics, money, both clean and slush, and presently a subject matter that occupies copious time of judiciary. Why this sports have gone out of control and beyond the control of even administrators? the short answer is money, money and money. Cricket boards are rich, players are paid handsomely and they are respected and revered as the film stars. Some of the them are having twitter followers, which will put our techie savvy prime minister into shame.
Now everyone is talking about cleaning up the game to save the cricket. Some of the appeals seem to be mere rhetoric and hog wash. Most of the public, who go out to the playground to watch a good game has only one thing in mind that their team has to win by hook or crook. A few sports lovers like to see the finesse of the game manifested. That number is abysmally low. In matches that involves teams from two nationalities, I must believe that cent percent of the spectators will support only their national team. That is true every where in the world barring a few exceptions, where there are a lot of migrant population, who get naturalized over a period of time. For instance, in Great Britain and West Indies, one can see a large number of Indian and Pakistan origin supporters cheering for their long left home country, even when there are sprinklings of participation of players from these countries in the host team.
A few sports loving nations have made betting legal. There are clear cut laws to prevent fixing in these countries, which is a grave criminal offense.There are credible structures created to address the fixing incidents. Also, stashing away of the ill-gotten money by players and others by involving in fixing is difficult. In the Indian sub-continent it is relatively easier in the sens that there ares till loopholes in our tax system. Admittedly, in the recent times, there is more focus on making the tax system more transparent so that people cannot stash away the slush money. We have to speed up that proces.
Secondly, the bet economy in India is believed to be as large as several billion rupees and there are betting syndicates everywhere in the country. Known locally as Satta Kings, they operate using code words and pseudo names. There are reports that even the school children get gravitated towards the mafia and pour considerable resources into their coffers. If betting has become an obsession with some people, let us make it legal and let that money chargeable under income and service tax at the highest rate of 30 per cent excluding surcharge and education cess. That will be a source of revenue for financing development works. Moreover, betting at race courses where allowed in India at some point of time.
Allow Cricket Betting to Rake in More Revenue
Cricket is a passion in India. it is equally a hotbed of politics, money, both clean and slush, and presently a subject matter that occupies copious time of judiciary. Why this sports have gone out of control and beyond the control of even administrators? the short answer is money, money and money. Cricket boards are rich, players are paid handsomely and they are respected and revered as the film stars. Some of the them are having twitter followers, which will put our techie savvy prime minister into shame.
Now everyone is talking about cleaning up the game to save the cricket. Some of the appeals seem to be mere rhetoric and hog wash. Most of the public, who go out to the playground to watch a good game has only one thing in mind that their team has to win by hook or crook. A few sports lovers like to see the finesse of the game manifested. That number is abysmally low. In matches that involves teams from two nationalities, I must believe that cent percent of the spectators will support only their national team. That is true every where in the world barring a few exceptions, where there are a lot of migrant population, who get naturalized over a period of time. For instance, in Great Britain and West Indies, one can see a large number of Indian and Pakistan origin supporters cheering for their long left home country, even when there are sprinklings of participation of players from these countries in the host team.
A few sports loving nations have made betting legal. There are clear cut laws to prevent fixing in these countries, which is a grave criminal offense.There are credible structures created to address the fixing incidents. Also, stashing away of the ill-gotten money by players and others by involving in fixing is difficult. In the Indian sub-continent it is relatively easier in the sens that there ares till loopholes in our tax system. Admittedly, in the recent times, there is more focus on making the tax system more transparent so that people cannot stash away the slush money. We have to speed up that proces.
Secondly, the bet economy in India is believed to be as large as several billion rupees and there are betting syndicates everywhere in the country. Known locally as Satta Kings, they operate using code words and pseudo names. There are reports that even the school children get gravitated towards the mafia and pour considerable resources into their coffers. If betting has become an obsession with some people, let us make it legal and let that money chargeable under income and service tax at the highest rate of 30 per cent excluding surcharge and education cess. That will be a source of revenue for financing development works. Moreover, betting at race courses where allowed in India at some point of time.
