For Sports Gambling To Be Legalised

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Howzat? The clamour to legalise sports betting wagering in India
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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 needing 17 go to win against Australia.


In his two-bedroom home located in main Mumbai, a middle-aged man is viewing the video game, nervously. He's resting on the edge of his grey colour sofa with his smart phone glued to his right hand.


He has actually made more than 10 calls in the last thirty minutes - not to talk about the match but to keep revising his bet.
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Five minutes earlier his money was on Australia, now as the Indian batsman prepares yourself to face the last over he's altered his mind.


"I believe India is winning, make the change," he informs his bookie on the phone.
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And a few minutes later his forecast becomes a reality, as India wins the match in a nail-biting surface.


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


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


Besides horse racing, sports betting wagering of any kind is not allowed India. Despite that, illegal wagering distributes prosper in the nation.


'Black cash'


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 avenue, punters place bets using their phones by making calls to bookmakers. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest individual run scorer.


The majority of these deals include so-called "black cash", which is cash not declared to the taxman.


The 1867 Public Gambling Act bars any sort of sports betting in India, however unlike in the US which has a law prohibiting web sports betting, there is absolutely nothing comparable here.


And offshore wagering companies are using this loophole to tempt Indians. Although there are no online wagering operators based out of India, a lot people have actually signed up accounts with overseas companies.


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


But regardless of this, it is "offline gaming", done through telephone call which dominate the market.


Calls for legalisation


The clamour to legalise wagering in cricket has grown after a panel designated by India's Supreme Court proposed the concept, saying it would help clamp down on corruption in the nation's favourite sport.
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The Justice RM Lodha Commission was set up to suggest changes in the performance of India's cricket regulatory body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal emerged.


Two franchises have actually been banned for two years after some players and team authorities were condemned of repairing parts of the match at the behest of bookies.


The panel likewise argues that legalised sports betting will tax incomes for the exchequer that could amount to $2bn a year.


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


"I don't mind paying some cash out my profits, as long as I can gamble openly," says our cricket gambler.


It would also open a huge company opportunity for licensed bookies and worldwide online wagering companies to set up operations in India.


And it would help restrict match repairing in cricket and other sports betting, argue numerous, by helping make transactions associated with gambling more transparent.
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"If you work together with wagering business, you will have an extremely efficient approach of marking out match fixing," states George Oborne, who runs a mock wagering website, India Bet.


But lots of also believe, that the taxes imposed on the gambler and the bookmaker will need to be affordable to make it appealing enough for them to bet legally.


However, there are limitations.


"Definitely there will be illegal sports betting due to the fact that (some) individuals would not wish to leave an audit path by getting in the white market," states Mr Oborne.


He adds that people who utilize unaccounted cash to place huge bets will never gamble lawfully.


Approval concern


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


"Despite the fact that many individuals are associated with some sort of gaming - it's still a controversial concern for many," states our unnamed punter.


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


"The procedure is so long and tricky that it will take years," states Mr Ranina."That's why, we are negative about this coming true anytime quickly."


Yet with the concept having actually been endorsed by a main panel for the very first time, at least a debate has actually sparked around a subject - which till now was considered a taboo.