Lorgat called for an easier way to tackle corruption in countries like India and Pakistan where sports gambling is illegal.
He said: "If betting syndicates are legalised then it will be easy to regulate. Where it is not regulated it will go underground.
"If betting is legalised then it will be far easier to manage the issue of temptation towards corruption.
"In countries like Australia, England, there is a regulatory industry. So we would like to find a way in which the whole industry can be regulated and that's what we are exploring."
With the sport's flagship event, the World Cup, due to start in 10 days' time, Lorgat added: "We have prepared well and will deploy more people. Yesterday and today the whole staff of the ACSU (anti-corruption and security unit) assembled and prepared a strategy. We can handle any situation."
Pakistan trio Salman Butt, Mohammad Asif and Mohammad Amir received lengthy bans at the weekend from an ICC anti-corruption tribunal in Doha.
Butt was banned for 10 years, half of which was suspended, Asif was banned for seven years, two suspended, and Amir banned for five years.
The players were accused of spot-fixing in the fourth Test between Pakistan and England at Lord's last August but have denied any wrongdoing and Butt and Amir have already indicated they intend to appeal to the Court of Arbitration for Sport.
Meanwhile, Pakistan Cricket Board chairman Ijaz Butt has praised the efforts of national team coach Waqar Younis in boosting the squad's confidence ahead of the World Cup.
Butt said Waqar had helped the team's recuperation and their result was evident in Pakistan's successful New Zealand tour.
Butt said: "I am very happy with what Waqar is doing. He has a plan to move forward and he has handled the team well despite the situation arising out of the spot-fixing controversies surrounding our players and other issues.
"He has kept the team united despite the off-the-field controversies we have had to face since last year."
Earlier, Waqar urged the team to focus on the World Cup, banking on the momentum gained from the victory in both the Test and ODI series against the Kiwis.
The former skipper said: "The World Cup provides us with a great opportunity to make a fresh start.
"The New Zealand tour has given us the right momentum for the World Cup at the perfect time."
