New Delhi, May 29 (IANS): The union sports ministry Wednesday dismissed reports suggesting that it has favoured legalising betting in the wake of the spot fixing controversy.

"The ministry of sports has also observed that a section of the media has reported that it is in favour of a law regularising betting in the sporting events in the country. The ministry clarifies that betting is a state subject and cannot be part of a central law. The ministry has made no recommendations to regularise betting to the law ministry or to any other organisation," read a sports ministry statement.

The betting industry is estimated to be around Rs.300,000 crore. The ministry, however, remains committed to curb corruption in sports, it said.

"The sports ministry is in favour of a law to curb malpractices in all sports. It will send its comments on the bill drafted by the law ministry and is looking forward to working with the law ministry and other stakeholders for the development of a comprehensive law against match and spot fixing."

Indian cricket has been hit hard by the spot fixing scandal that broke out in the Indian Premier League where three Rajasthan Royals' cricketers S. Sreesanth, Ajit Chandila and Ankeet Chavan were arrested by Delhi Police May 16.