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Sports betting is allowed in many countries of the world. The betting in these countries has evolved over a period of time http://www.colombiasoccerpro.com/Wilmar-Barrios-Colombia-Jersey/ , in some cases even centuries. The long gestation period of the sports and the associated betting has permitted the organization and fine tuning of regulations for controlling the sport betting in those countries. This has been possible to accommodate the changing perceptions and responses of the people to the wagering and also the newer technologies.

Even where the wagering on sports is allowed, the government does not give them a free hand to do whatever they want. It has to maintain a very strict control over the operations of different actors in this field to ensure that they do adhere to the regulations. The necessity of the control is essential for the following reasons:

1. Keeping the spirit of sport alive: The first and foremost concern among the regulators is that the wagering activities have a tendency to engulf the players and its officials in its embrace. Greed has always been a factor that could result in burial of sporting ethos and going for money. This hurts the very spirit of sports which is to work to the best your physical and mental abilities. Sports, it is said http://www.colombiasoccerpro.com/William-Tesillo-Colombia-Jersey/ , develop the character of a nation. The people who watch or hear about the sporting events feel cheated when they hear about greedy players getting mixed up with punters to play less than their ability for money.

The role of regulators is to ensure that sports betting keep away from the people associated with sports.

2. The regulatory framework is also required to make sure that money from illegal channels like drug trafficking, terrorism, etc does not flow into the markets. For http://www.colombiasoccerpro.com/Stefan-Medina-Colombia-Jersey/ , if this were to happen, the players can easily succumb to the pressures and threats which will make them engage in match-fixing. The profits from wagering in some of the sports are very high. This could mean that the winnings money is used by anti-social elements and terrorists to further their agendas.

Checks by different agencies on different players and officials are to make sure that they are not influenced by these elements and motives.

3. To encourage fair sport betting: Sports betting is done by people from all sections of the society. If the regulations were not strong, there would be a far greater number of complaints and litigation actions due to cheating and frauds. The bookmakers might delay the payoffs for long periods of time. The instances of bookies vanishing overnight defrauding the punters could have increased far more. Similarly http://www.colombiasoccerpro.com/Roger-Martinez-Colombia-Jersey/ , there could be other incidents of white-collar crimes.

In the countries where these are allowed, the regulatory controls are well laid out and documented for each sport. These detailed rules are meant to cover the whole gamut of sporting activities and in all its aspects. These are crucial to prevent development of chaos in the society and to ensure that the productivity of the nation and socio-economic fabric of the society is not adversely affected with rampart sports betting.

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