Law panel report on betting almost ready

NEW DELHI: The Law Commission, which has been mandated by the SC to examine whether betting in sports can be legalised, has studied the policies in countries where it is legal and is close to finalising its report, sources privy to the matter said.

From the UK, where betting is regulated by the Gambling Commission, to Islamic countries where it is prohibited for the locals but open for foreigners, the commission has perused various models, they said. The commission headed by Justice BS Chauhan, a former judge of the SC, has examined the benefits that legalisation of betting can bring and also its ill-effects.

One of the issues of serious consideration was online gambling. The commission’s preliminary view was that online gambling would be difficult to regulate if legalised, the sources told ET. Meanwhile, if the government decides to legalise betting in sports, it will necessitate amendments in various regulations.

From the Indian Contract Act — which treats wager as void — to even the foreign investment policy will have to be amended, they said. Changes will also be required in taxation rules and other laws.

“The money involved will run into lakhs of crores. The existing mechanism is bereft of any safeguards to regulate online gambling. This is one aspect which requires special focus,” said a senior official.