The Sri Lankan government has recently officially approved the draft of the "Gambling Sports Standardization Act" to be published in the government gazette, paving the way for its submission to parliament for deliberation, marking a key step in the country's establishment of a comprehensive gambling regulatory mechanism.
The bill, proposed by President Anura Kumara Dissanayake in his capacity as Minister of Finance, Planning and Economic Development, aims to regulate both domestic and international sports betting markets amidst an increasing volume of gambling activities, by establishing a dedicated regulatory authority.
According to the bill, Sri Lanka will establish an independent authority called the "Gambling Regulatory Authority" to comprehensively supervise gambling activities related to sports. Its regulatory scope is not only limited to within Sri Lanka but also extends to gambling activities on ships, within the special economic zone of Colombo Port City, and on online gambling platforms, demonstrating the government's high regard for the trend of digital gambling.
Dr. Narinda Jayatissa, the Cabinet spokesperson, pointed out at the weekly press conference that the legislative proposal originated from a cabinet resolution in February this year, and the draft has been reviewed and approved by the Minister of Justice, confirming its legal basis for implementation.
The government emphasizes that the establishment of the new authority aims not only to ensure the legality and compliance of the gambling industry but also to promote the concept of "responsible gambling," curb the expansion of illegal platforms, and protect the public, especially young people, from the social harms of unregulated gambling.
As the penetration of online gambling and offshore platforms intensifies, the Sri Lankan government recognizes that the current laws have many loopholes in terms of control capabilities. Thus, the new legislation is also seen as a strategic fill-in for the current regulatory gaps in gambling, aiming to build a unified framework covering both offline and online.
Furthermore, officials stated that the introduction of this bill not only reflects a positive response to the management needs of the domestic gambling market but also indicates that Sri Lanka is laying the foundation for long-term development in the field of digital and cross-border gambling regulation.
Currently, the bill has entered the parliamentary deliberation process. In subsequent discussions and debates, members will explore in detail the specific functions, scope of authority, execution mechanisms, and their impact on the economic and legal systems of the regulatory authority.
This move by Sri Lanka is seen by the outside world as an important turning point on its path to modernizing gambling policies. If ultimately passed, the bill will provide institutional guarantees for the country to build a more transparent, sustainable, and responsible gambling environment for both investors and the public.
