For Sports Gambling To Be Legalised

Howzat? The clamour to legalise sports betting 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 requiring 17 runs to win versus Australia.


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


He has actually made more than 10 hire the last 30 minutes - not to go over the match however to keep revising his bet.


Five minutes previously his cash was on Australia, today as the Indian batsman prepares to face the last over he's altered his mind.


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


And a few minutes later his forecast comes true, as India wins the match in a nail-biting finish.


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


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


Besides horse racing, sports betting of any kind is not permitted in India. Despite that, prohibited sports betting distributes grow in the country.


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


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


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


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


And offshore wagering business are using this loophole to lure Indians. Although there are no online sports betting operators based out of India, a lot people have registered accounts with offshore companies.


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


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


Calls for legalisation


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


The Justice RM Lodha Commission was established 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 sports betting scandal came to light.


Two franchises have been banned for two years after some players and team authorities were found guilty of repairing parts of the match at the wish of bookies.


The panel likewise argues that legalised wagering will generate tax revenues for the exchequer that could total up to $2bn a year.


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


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


It would also open a big service opportunity for licensed bookmakers and international online wagering companies to establish operations in India.


And it would assist restrict match repairing in cricket and other sports betting, argue lots of, by assisting make deals associated with gambling more transparent.


"If you work alongside wagering companies, you will have an extremely effective method of marking out match repairing," says George Oborne, who runs a mock sports betting site, India Bet.


But numerous also believe, that the taxes levied on the gambler and the bookmaker will have to be sensible to make it attractive enough for them to gamble lawfully.


However, there are restrictions.


"Definitely there will be illegal wagering since (some) individuals would not want to leave an audit trail by going into the white market," states Mr Oborne.


He includes that people who use unaccounted money to place huge bets will never gamble legally.


Approval question


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


"Despite the fact that lots of people are associated with some sort of gambling - it's still a questionable concern for many," states our unnamed punter.


And offered that India has a federal structural - each state will have to likewise pass a different law to legalise sports betting in their area.
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"The procedure is so long and tricky that it will take years," states Mr Ranina."That's why, we are cynical about this coming true anytime quickly."


Yet with the idea having been backed by a main panel for the very first time, at least an has actually fired up around a subject - which till now was considered a taboo.
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