For me it should be legalized since the rotation of black money can be prevented.
Nothing works if the implementation of law fails. We have lot of laws foe curbing black money. Are you sure they are working?
If black money cannot be curtailed by one means, attempt to be taken to curtail by some other means. Enforcing this can very well be an attempt as JOTHIBASSU has mentioned.
If we don't legalise betting then the same thing was going to happen next year and the same question on whether to legalise betting or not will be debated in 2014 also.
