You bet, Brits love a ‘flutter’

Posted on June 3, 2013 by admin
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The spot-fixing scandal that has devastated the IPL points to the massive illegal betting industry that rides on cash-rich sports. Legalising betting is being suggested as a remedy, but it may only worsen the disease.

English language is rather good at evoking the British passion for gambling — people ‘gambling away’ their wealth, ‘betting the bank’ on a whim, ‘taking a punt’ on anything that might take their fancy, from horses and football matches to weather and the likely gender of the Duchess of Cambridge, Kate Middleton’s baby.

Brits love a ‘flutter’ and make no bones about it. Betting became legal in 1960 with the enactment of the Betting and Gaming Act, 1960. Today, it is a multi-billion pound industry. High-street betting shops, which represent just a fraction of Britain’s bourgeoning gambling trade, alone contribute £3 billion a year to the British economy, according to evidence submitted by the Association of British Bookmakers (ABB) to Parliament’s Culture, Media and Sports Committee.

To read the full article visit The Hindu Times online.