Monday, October 11, 2010

Gambling is a SKILL

Mr. Bibek has an interesting article in today’s IE. He concludes with the following lines:

  • Thirteen states now organise lotteries and percentage profits are fairly high for states like Meghalaya, Mizoram and other northeastern states. Bans rarely serve any useful purpose. They only drive the activity underground and colossal figures float around on size of the illegal gambling market and there are links with money-laundering too.

  • Legalisation of gambling will mean greater revenue for government and better regulation and the latter is good for the poor. We should get newer products and more choice, better for the poor consumer too. If we are that concerned about the poor, let us earmark government revenue from gambling for social sector expenditure.

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