For decades, governments have tried to control gambling, first as a measure for social order and lately, to fill government coffers. Many national and regional governments continue to monopolize gambling, lotteries, horse betting etc. Fundamentally, the idea that an individual is allowed or forced to bet on an event WITHOUT access to the relevant facts or data is actually harmful and creates an unnatural asymmetry of sorts. This asymmetry, promoted by governments under current norms, is a by-product of good intentions and protection of the general population. A case may be made that corruption, addiction, and criminalization and ‘mafia-fication’ of gambling has happened due to this, over many decades. Hence, a case may also be made to regulate gambling and betting in sports, by allowing the structured flow of data and development of a formal ecosystem to:
1. Enhance government revenues
2. Create online / virtual spaces for engagement
3. Adequately monitor for abuse / fraud / criminality / risk
4. Allow citizens and organizations to engage, safely De-marginalization of gambling could follow the same trajectory as marijuana.
View this Post on Linkedin