1 For Sports Gambling to Be Legalised

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Howzat? The clamour to legalise sports betting wagering in India

Published

5 February 2016
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By Sameer Hashmi

Mumbai Business press reporter

It is the last over of the cricket match, with India requiring 17 runs to win versus Australia.
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In his two-bedroom house located in main Mumbai, a middle-aged male is watching the game, nervously. He's resting on the edge of his grey colour sofa with his mobile phone glued to his ideal hand.

He has made more than 10 hire the last 30 minutes - not to talk about the match but to keep revising his bet.

Five minutes earlier his cash was on Australia, and now as the Indian batsman prepares to deal with the last over he's altered his mind.

"I believe India is winning, make the modification," he tells his bookmaker on the phone.

And a couple of minutes later on his prediction comes true, as India wins the match in a nail-biting finish.

"I have made $200 today," he states with a childlike glee.

For more than 3 decades he's been wagering on cricket matches. We can't reveal his name as what he's doing is illegal in India.

Aside from horse racing, sports betting of any kind is not allowed India. Despite that, illegal sports betting distributes prosper in the country.

'Black money'

According to the Doha-based International Centre for sports betting Security, India's prohibited sports betting wagering market deserves some $150bn a year. And much of that sports betting money is directed towards cricket.

With no legal opportunity, punters place bets utilizing their phones by making calls to bookies. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest specific run scorer.

Most of these transactions include so-called "black money", which is money not declared to the taxman.

The 1867 Public Gambling Act bars any sort of gaming in India, however unlike in the US which has a law restricting internet gaming, there is absolutely nothing similar here.

And overseas wagering business are using this loophole to draw Indians. Although there are no online wagering operators based out of India, a lot individuals have actually registered accounts with overseas companies.

"Legally you can get away [with this], as the law is ambiguous for online gambling," states Mumbai- based attorney HP Ranina.

But in spite of this, it is "offline sports betting", done through call which dominate the marketplace.

Require legalisation

The clamour to legalise sports betting in cricket has grown after a panel appointed by India's Supreme Court proposed the concept, stating it would assist secure down on corruption in the country's preferred sport.

The Justice RM Lodha Commission was set up to recommend changes in the functioning of India's cricket regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal came to light.
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Two franchises have been prohibited for 2 years after some gamers and group officials were found guilty of fixing parts of the match at the request of bookies.

The panel likewise argues that legalised sports betting will generate tax incomes for the exchequer that might total up to $2bn a year.

Even gamblers feel that legalising sports betting wagering is a move in the right direction.

"I do not mind paying some cash out my profits, as long as I can bet openly," states our cricket bettor.

It would likewise open a substantial business opportunity for certified bookies and worldwide online sports betting business to establish operations in India.

And it would help limit match fixing in cricket and other sports betting, argue lots of, by helping make transactions associated with sports betting more transparent.
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"If you work along with sports betting business, you will have an extremely effective approach of stamping out match repairing," says George Oborne, who runs a mock wagering website, India Bet.

But many also think, that the taxes imposed on the bettor and the bookmaker will need to be reasonable to make it appealing enough for them to bet lawfully.

However, there are limitations.

"Definitely there will be prohibited wagering since (some) people wouldn't desire to leave an audit path by entering the white market," says Mr Oborne.

He includes that individuals who use unaccounted cash to position big bets will never ever bet legally.
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Approval concern

For sports betting gambling to be legalised, parliamentary approval will be required to produce a new law, and politically this will be a to sell.

"Although many individuals are associated with some sort of gambling - it's still a controversial problem for lots of," says our unnamed punter.

And considered that India has a federal structural - each state will need to likewise pass a separate law to legalise sports betting in their area.

"The procedure is so long and tricky that it will take years," says Mr Ranina."That's why, we are negative about this ending up being a truth anytime quickly."

Yet with the concept having been endorsed by a main panel for the first time, at least a debate has fired up around a topic - which up until now was considered a taboo.