1. Check on black money and terror funding – A large amount of money for gambling has its source from the illegally earned money, also called black money. In the gambling market, no one keeps a check on the wagering party as to where they are getting the money and how much their real income is, but if the wagering can become regularised it will be easy for the government to keep a check on people’s gambling history as well as their income. This regulation of gambling will control and prevent private gambling and deter people with a weak economic background from indulging in wagering. It is well known that much of the gambling takes place underground, and it is very easy for these organizers to use the money for activities like terror funding and violent protest in the country. Regulation and legalization of wagering will ultimately help to curb these problems to a greater level.
2. Revenue increase One of the most active industries in India with around $50 – $60 million turnover every year, is the betting industry according to the KPMG report and of much higher estimation by other financial institutions. If wagering is regulated and taxed by the government then all the revenue earned through these mediums will help both the state and central government to earn revenue from this leisure activity. The revenue can be used for the development of the health and education sector and provide infrastructure for the citizens. Even though it won’t be very high revenue, it will help in reducing the illegal wagering around the country with legally approved rules and regulations for wagering activities.
3. Generate employment When gambling houses and betting is regularised by the government then many jobs will be created in gambling houses and betting centres. These jobs will be created to control and manage the daily activities of the centres. In many countries like the USA around 1 lakh people are employed in this industry while it is around 2.5 lakh in the UK. This will reduce unemployment to ensure a regular income for lakhs of people.
As every coin has two sides, legalization of gambling also may have some disadvantages
1. Degrade the morals This is a reason that the makers of the constitution tried to ban wager in the country, it was affecting both the society and the individual. A person who is involved in wager may get addicted to it and it will create an economic burden on his family which may end up in an unhappy situation. Although government rules and regulations should focus on this matter to take into consideration the income of the family to allow people to wager legally.
2. Unstoppable tempt and greed will be normalized If wagering is regulated by the government, then it may affect the skill-based games like sports betting and online betting will attract the attention of the spectators and the players may also get indulged in unfair play. There is no guarantee that after the government regularization of wagering, private and individual betting will stop. It may still happen on a small scale which may give rise to exploitation of regular small gamblers and betters.
I have always been against Glorifying Over Work and therefore, in the year 2021, I have decided to launch this campaign “Balancing Life”and talk about this wrong practice, that we have been following since last few years. I will be talking to and interviewing around 1 lakh people in the coming 2021 and publish their interview regarding their opinion on glamourising Over Work.
If you are interested in participating in the same, do let me know.
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We also have a Facebook Group Restarter Moms for Mothers or Women who would like to rejoin their careers post a career break or women who are enterpreneurs.
We are also running a series Inspirational Women from January 2021 to March 31,2021, featuring around 1000 stories about Indian Women, who changed the world. #choosetochallenge