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(EMAILWIRE.COM, December 28, 2012 ) San Francisco, CA -- IsraelÂ’s government could collect 1.2 billion shekels in taxes if it legalized half of the nationÂ’s sports gambling, according to a study.
The research by two economists will be released at a conference on social issues scheduled at Sapir College.
Avichai Snir, of Netanya Academic College, and Ronen Bar-El, of Open University, estimate that betting on sports events totals 12.5 billion shekels annually, according to the Israeli newspaper Haaretz. Almost all of that spending is illegal.
The study arrives at its revenue figure assuming a 20% tax on about 6 billion shekels of spending on gambling if it were to be regulated.
Gambling hurts the bettors and sports groups, the researchers say. Legalization and regulation of gambling would help prevent organized crime from using it to make money and launder profits.
Regulation also would discourage manipulated results.
The researchers said that sports are “subject today to the growing threat of match fixing and turning into a tool of organized crime.”
Criminal operations around the world earn as much as $3 trillion a year, according to the researchers, who cited the International Monetary Fund. Up to half that amount is laundered.
The economists valued IsraelÂ’s black market at 34 billion shekels, or about 21% of the nationÂ’s gross national product.
Illegal sports gambling has been linked to illicit methods of making money such as match fixing and the use of insider information.
The Internet has opened a new horizon for gambling, allowing bettors to participate anonymously. Wagers for large amounts of money can be processed without regulatory oversight through the Internet. Some $51 billion is estimated to have been spent this year in online gambling.
Around the globe, the trend has been toward regulating online gambling. Seven countries in Europe and 28 elsewhere have legalized online betting.
Gambling online is against the law in Israel.
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Benjamin Wrights
4157669098
news@postpressrelease.com 
Source: EmailWire.com
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