India makes progress on sports betting legalization

According to previous reports, politicians from the South Asian country were looking at UK’s regulatory framework as the potential exemplary model for India’s future sports betting laws.

UK’s sports betting market annually generates more than £5 billion in gross gambling yield, according to UK Gambling Commission figures, which makes it one of the world’s largest such markets. What is more, it has seen continued growth over the years both online and across betting shops.

With population of more than 1.3 billion people and the apparent and growing interest in sports betting in India, this type of gambling activity is believed to have the potential to reap great success in the country, if legalized and regulated properly.

Local media reported that Sports Secretary Injeti Srinivas has discussed the industry with UK Gambling Commission Director, Nick Tofiluk, and that India will seek further cooperation with the UK regulatory body on the future regulation of its own market, if such regulation is decided to be implemented.

Although the regulation of India’s sports betting market is gaining more and more support among both residents and politicians, there are still powerful government members who seem to be less certain about the move’s success and usefulness.

Source: GMB / Casino News Daily