A wise man adapts himself to circumstances, as water shapes itself to the vessel that contains it.
- Chinese Proverb
-1500540546.png){kind=icon}
Receive regular push notifications on your device about new Articles/Stories from QuoteUnquote.
Whenever we are talking about any law, we need to see the pith and substance of the law, i.e., the object behind. And based on that object a law can be good or bad. As a civilized society, we understand what good laws are. Any law or statute, protecting the rights of an individual, and protecting him from harm, which may be caused by other are deemed to be good laws.Here are some negative impacts of illegalizing betting:
A complete restriction on betting has not eradicated it but has sent the activity ‘underground’ covered in the murky undertakings of the crime syndicates. Such restrictions rather broaden the operation of criminal activities instead of restricting them. Where an individual could have placed his bet with a controlled and licensed establishment, he gets entangled in a black market, where no protection of the law is granted. Such black markets also fill the coffers of the crime syndicates and allow them to make a profit out of the activity, which they shouldn’t have been able to do had it been legal. Such increase in profits also draws out many more people to these criminal syndicates to fill their pockets more easily.
With betting activities going underground, it becomes harder to dragoon and oppress the problem of match-fixing. Criminals are not very interested in following the law from the outset only. Add to that the huge amount of money involved in betting and the problems get a lot worse. Matches are fixed to make more and more amount of money. This problem does not rear its ugly head in a regulated market, where the reputation of the bookmaker or the establishment is the prime concern of the bettors. If a licensed bookmaker or establishment is caught in the scandal of rigging games, their business would be ruined both legally and in terms of customer base. Also, when betting is done in the open markets, they are easily traceable, thereby reducing the chances of rigging.
A boost in the economy always helps and legalizing betting does provide that boost. The economy loses a lot of money to betting, and it also increases the amount of black money being circulated in the market. Moreover, profits of betting can’t be taxed, as these profits are not under the purview of taxable income. This way also the economy loses a lot of money.
-One of the fact to be considered is that criminalization of betting does not stop it from happening. According to reports betting money involved in IPL-7 and IPL-8 were around Rs. 7,000 crores and Rs. 12, 000 crores respectively.
So the need of the hour is to come up with an active regulatory framework- whether the principle philosophy is to permit or restrict betting, but not completely banning it.
By Pritam Mondal
May 03, 2018
-1496569270.png){kind=small}
Whenever we are talking about any law, we need to see the pith and substance of the law, i.e., the object behind. And based on that object a law can be good or bad. As a civilized society, we understand what good laws are. Any law or statute, protecting the rights of an individual, and protecting him from harm, which may be caused by other are deemed to be good laws.Here are some negative impacts of illegalizing betting:
A complete restriction on betting has not eradicated it but has sent the activity ‘underground’ covered in the murky undertakings of the crime syndicates. Such restrictions rather broaden the operation of criminal activities instead of restricting them. Where an individual could have placed his bet with a controlled and licensed establishment, he gets entangled in a black market, where no protection of the law is granted. Such black markets also fill the coffers of the crime syndicates and allow them to make a profit out of the activity, which they shouldn’t have been able to do had it been legal. Such increase in profits also draws out many more people to these criminal syndicates to fill their pockets more easily.
With betting activities going underground, it becomes harder to dragoon and oppress the problem of match-fixing. Criminals are not very interested in following the law from the outset only. Add to that the huge amount of money involved in betting and the problems get a lot worse. Matches are fixed to make more and more amount of money. This problem does not rear its ugly head in a regulated market, where the reputation of the bookmaker or the establishment is the prime concern of the bettors. If a licensed bookmaker or establishment is caught in the scandal of rigging games, their business would be ruined both legally and in terms of customer base. Also, when betting is done in the open markets, they are easily traceable, thereby reducing the chances of rigging.
A boost in the economy always helps and legalizing betting does provide that boost. The economy loses a lot of money to betting, and it also increases the amount of black money being circulated in the market. Moreover, profits of betting can’t be taxed, as these profits are not under the purview of taxable income. This way also the economy loses a lot of money.
-One of the fact to be considered is that criminalization of betting does not stop it from happening. According to reports betting money involved in IPL-7 and IPL-8 were around Rs. 7,000 crores and Rs. 12, 000 crores respectively.
So the need of the hour is to come up with an active regulatory framework- whether the principle philosophy is to permit or restrict betting, but not completely banning it.
-1502874017.png)
More from
© 2017 QuoteUnquote All Right Reserved
Home-1501594602.png)
Spirituality
Culture
Short Story
Kama
420-1501594602.png)
QuickDope
Honest News-1501594602.png)
Sports
Travel-1501595131.png)
Quotes
-1506173998_350x300_.jpg)
-1534601203_350x300_.jpg)
