Legalized gambling is being pushed by states that are bumming for more revenue. New Jersey’s bid for legalization originated in its unfunded obligations. Kentucky sees it as an opportunity to.

Gambling is a common practice in modern society. There are thousands of casinos established globally, including in India, where people can play online or offline. In India, betting entails a diverse sector. People will bet on animal fights, wrestling, and football and card games.

1. Legalizing gambling would also lead to demands for legal frame work other nefarious activities like prostitution, drugs etc. So the government has to weigh the pros and cons before indulging the act of legalizing gambling, which can lead to a complex impact on the society. Preparing for MBA Entrance Exams?
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3. Legalizing online gambling pros and cons. Apr 9, 2013 3:01 AM Robert Turner. Putting a 24-hour casino in every home comes with great responsibility. Ensuring a safe, responsible gambling.

Whether to legalize betting in India has been the critical question that can be answered based on the pros of betting. People have now started betting on national sports, including football and cricket. However, the main challenge is when the government is unable to end the real menace.

Pros And Cons Of Legalizing Online Gambling Winnings

Betting increases revenue as there are significant transactions in and out of the country. This practice also has substantial benefits for encouraging people to adopt healthy behaviors instead of indulging in drug abuse. There is a dire need to legalize betting in India for the government to control this sector.

Pros of legalizing gambling

• Increasing Living Standards
Gambling plays a vital role in generating revenue in India. Legalizing this practice aims at creating job opportunities for Indians and other people. This employments, in return, leads to increased living standards. It’s globally proven that betting can be a significant source of income.
Thousands would be employed in casinos; others would be website developers and others, creating software to track betting activities. Legalizing betting would indeed be a significant turning point in India, helping people become financially stable.
Instead of relying on aids, people will have a source of income and create change in India.

• High Tax Revenue
Punters will have a safer industry once betting is legalized, and in return, they earn the country high tax revenues. The tax rates vary with the state, but legalizing betting in India will create a huge turn. The government will collect taxes from betting companies adding to the revenue.
Imposed tax on betting helps limit people who are likely to develop a problem. Moreover, this revenue can be used to improve betting methods and help people struggling with gambling issues.

• Create A safe platform for punters
Modern technology allows people to place bets in the comfort of their homes. For this reason, legalizing betting India will have fantastic returns from online and offline betting. Moreover, this process will help reduce crime rates.
Only licensed companies will offer betting services creating unity and a safe platform for all punters in the country. When the government takes control of the betting sector, companies will be protected from any criminals.
Gambling leads to high cash flows in banks, casinos, and other related sectors. This flow affects the country positively, especially the economy, with a lot of money circulating.

Cons of legalizing gambling

Besides the positive side of gambling, people should be aware that this practice can be addictive. The ordinary person is affected as they spend a lot of money and, at times, all their income on betting. Gabbling should be a fun thing and not a source of income for gabblers.

Pros And Cons Of Legalizing Online Gambling Sites

Legalizing gambling paves the way for different gambling problems, and people can start having domestic fights mainly when they use to set aside money, for instance, school fees for gambling.

Bottom Line
Gambling should be legalized in India so that the government can stop losing a considerable revenue earning opportunity. This legalization will also create employment for its citizens. Moreover, this process would lead to increased demands for a legal framework to control different crimes.

Pros And Cons Of Legalizing Online Gambling Laws

With yet another Internet gambling bill suffering defeat, it's clear that legal online gambling in the U.S. is years away from a fact. But during a heated debate over the existing online gambling laws, not only in the U.S., but world-wide, we couldn't help but ask ourselves - what are the pros and cons of legalizing online gambling in the country? Well, let's take a look:

Pros of legal online gambling: Legalizing Internet gambling has its positive sides for all parties involved - gamblers, gambling websites and government. To being with the most important piece of the puzzle - the gamblers. Security is arguably the most important feature of legal online gambling - how many times have you gambled online at a casino or a sportsbook and win, only to find out that there will be no check coming your way? Yes, crooked online casinos and sportsbooks will continue to exist, even if Internet gambling is legalized, but the customer will have a wide array of licensed gambling websites to choose from, hence curbing fraud to almost zero. People want to gamble, they want to win and they want to get their winnings. A legal licensed gambling website would guarantee this. Hand in hand with security comes honesty - no one wants to play at a dishonest casino or sportsbook. A licensed one is a good start in that direction (although it will hardly be a given). And of course, legality itself. The poor online gamblers in the state of Washington are currently felons for playing a few hands of poker on the Internet. I just cannot imagine the Washington anti-online gambling law staying on the books with legal online poker websites. Then again, with the current political scene in the state, anything is possible.

The gambling websites also stand a good deal to gain from legal online gambling. Just ask David Carruthers from BetOnSports, the Neteller co-founders and PartyGaming. Legalizing your online gambling business, whether it is a sportsbook, casino, poker room or payment processor would lift the burden of looking over your shoulder for the Feds. Advertising your website in a legalized Internet gambling atmosphere would also be easier tenfold. You want to travel to the U.S. but own a sportsbook? No problem, as long as you pay your taxes. Which leads us to the third group of legal online gambling beneficiaries - the government. Estimates have always flown around that online gambling generates over 10 billion in revenue yearly, can you imagine the cut the U.S. government will get once the majority of the gambling websites are legalized? True, resources must be set aside to oversee the industry and the laws, but let's just say the remainder will hardly be a chump change. Bottom line, legal online gambling is beneficial to all parties involved.

On the other side, there are a small number of 'cons', when we talk about legalizing Internet gambling. Not as much as 'cons', but participants which would hate to see the online gambling industry legalized in the United States. There are plenty of online sportsbook (and online casino) operators, which have no interest in ever visiting the United States or desire to share some of the wealth with the government (in the form of taxes or fees). As the gambling sites have already proven to us - you can always find a payment processor to take the customers' money. And the U.S. cannot do anything to block those websites - let's face it, this is not China. So those individuals remain quite comfortable in the current lawless situations and would anything but lobby for legalization. Bottom line, legal online gambling will not be welcomed by those companies. Lucky for them, U.S. is light years away from legalizing Internet gambling, or so it seems.

Published on 07/01/2008

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