Posted 10/19/2023, 11:22:51 AM
Illegal Sports Betting in India Costs Authorities Rs 2 Lakh Crore in Lost Taxes Annually: Report
- Illegal sports betting market in India gets around Rs 8,20,000 crore annually
- This leads to estimated loss of Rs 2 lakh crore in taxes for authorities
- Factors like digital infrastructure, smartphone usage, more sports events contributed
- Report suggests strict implementation of new GST regime to curb illegal offshore betting
- Delay in forming Self-Regulatory Organizations will allow illegal sites to grow