Time to move the regulatory goalposts

There is no question that the global sports betting market is massive and growing fast. According to figures from respected statistics company, Statista, the global gross gaming yield now stands at about $400 billion, with the majority of that generated in Asia. However, given the lack of reliable reporting and extent of the illegal market, that figure is likely to be a drop in the bucket of the real total, with some estimates running into the trillions of dollars. So, we’ve said it before and we’ll say it again — this represents an enormous missed tax opportunity for governments across Asia. Introducing regulations to legalize sports betting would not only pad government coffers, it would help authorities to combat match fixing by improving the visibility of money changing hands. It should also generate employment opportunities if wagering companies were allowed to legally establish a presence in various jurisdictions. Many European sportsbooks...

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