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Sri Lanka is now getting ready to change the way it handles gambling. The government wants to make all gambling rules better, simpler, and stronger. For this, a new draft law has been created that will bring all gambling activities under one main body a new Gambling Regulatory Authority.
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New Gambling Authority Will Be Independent
The new draft law suggests that a Gambling Regulatory Authority will be made as an independent body. This step has been taken under the direction of President Anura Kumara Dissanayake, who is also the Finance Minister.
The main aim of this new authority is to keep a close eye on all legal gambling in the country. Once the law is passed in Parliament, it will be known as the Gambling Regulatory Authority Act.
Old Laws Will Be Removed
Right now, Sri Lanka uses three very old laws to manage gambling:
- Horse Racing Betting Ordinance
- Gambling Ordinance
- Casino Ordinance
These laws are outdated and don’t work well together. So, the new law will replace all three with one modern law. This will help:
- Remove confusion
- Make rules simple and clear
- Fill gaps in the system
What Will the New Authority Do?
The new Gambling Regulatory Authority will have many jobs:
- Collect money from legal gambling for the government
- Make sure rules are followed properly
- Stop illegal gambling
- Bring more transparency and good management to the gambling sector
This means both legal gambling companies and illegal operations will be checked. It will also make sure that those who have licenses are doing things the right way.
Law Already Approved by Cabinet
The Cabinet approved this draft law on April 21, and now it has been officially published. The next step is to present it in Parliament for final approval. If passed, the Gambling Regulatory Authority will start working soon.
- Better Tax Collection: The government can earn more tax money by catching unlicensed gambling.
- Online Gambling Rules: The new law may also help regulate online betting and casino websites, which were not covered by the old laws.
- Job Creation: The authority may open new jobs in monitoring and tech sectors for locals.
- Public Awareness: The authority can also run campaigns to educate people about safe and legal gambling.
- Stronger Tech Use: The new system could use AI and software tools to catch illegal betting faster than before.
Also Read: Meet The Top 25 Most Influential iGaming Leaders
