Which one is more logical, legalized or not legalized sports betting?

I refer to the news published in Malaysian Insider today:-
http://www.themalaysianinsider.com/malaysia/article/soi-lek-gambling-tax-for-anti-gambling-drive/

Well, I support all forms of limited legalized gambling as long as it is transparent in nature, and does not cause nuisance to the public; and that the government or public will benefit from the taxes of the activity.

How can we ban the legalized gambling to achieve the effect of making less people gambling legally and illegally?

Chua's idea of collecting gambling tax for anti-gambling drive is acceptable but controversial as some people would think it's far-fetched.

Because there's no surest way of ridding the gambling activities, and after all, it's actually a part of our social life, so by limiting its activity through legalized or regularized mechanism, the people and the country will gain positively eventually.

With the present non-legalized situation, government receives nothing from the sport gambling activities while the turn-over is estimated worth RM1B for this World Cup alone!