India's unregulated sports betting market sees an annual inflow of around Rs 8.2 lakh crore (USD 100 billion), resulting in potential tax losses of about Rs 2 lakh crore. This surge is attributed to factors like digital infrastructure growth and the popularity of athletic events. Despite regulatory restrictions, the illegal betting and gambling market in India continues to grow.
Experts recommend stricter implementation of the new GST regime, monitoring of offshore betting, and compelling offshore operators to register in India to mitigate tax losses. The formation of Self-Regulatory Organizations (SROs) is also urged to effectively categorize legal and illegal operators.