and why? Starting for one - 1) Legalize betting on sports and Gambling. Tax the hell out of it. Why try and curb black money, when you can legitimize the business and make a decent score on it. Link the limits of betting to a person's income. (You submit a PAN Card with income proof, that limits your betting to a proportion of your Salary/income). The tax earned, even at 2-3% would be phenomenal!