For Sports Gambling To Be Legalised

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Howzat? The clamour to legalise sports betting wagering in India
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Published


5 February 2016


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By Sameer Hashmi


Mumbai Business reporter


It is the last over of the cricket match, with India requiring 17 runs to win against Australia.


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


He has actually made more than 10 contact the last 30 minutes - not to discuss the match but to keep revising his bet.


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


"I think India is winning, make the change," he informs his bookie on the phone.


And a few minutes later on his prediction comes real, as India wins the match in a nail-biting surface.


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


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


Other than horse racing, sports betting of any kind is not enabled in India. Despite that, illegal sports betting syndicates flourish in the country.


'Black money'


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


Without any legal opportunity, punters position 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 greatest private run scorer.
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Most of these transactions involve so-called "black money", which is money 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 forbiding internet sports betting, there is absolutely nothing similar here.


And offshore wagering companies are using this loophole to draw Indians. Despite the fact that there are no online sports betting operators based out of India, a lot people have actually registered accounts with offshore firms.


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


But regardless of this, it is "offline sports betting", done through telephone call which control the market.


Require legalisation


The clamour to legalise wagering in cricket has grown after a panel designated by India's Supreme Court proposed the idea, stating it would help secure down on corruption in the nation's preferred sport.


The Justice RM Lodha Commission was established to recommend modifications 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.
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Two franchises have been prohibited for two years after some gamers and group officials were condemned of fixing parts of the match at the behest of bookies.


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


Even gamblers feel that legalising sports betting wagering is a relocation in the right instructions.


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


It would likewise open a substantial company chance for licensed bookmakers and worldwide online wagering companies to set up operations in India.


And it would help restrict match fixing in cricket and other sports betting, argue numerous, by assisting make deals associated with more transparent.


"If you work along with sports betting business, you will have a very efficient technique of marking out match repairing," states George Oborne, who runs a mock sports betting site, India Bet.


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


However, there are restrictions.


"Definitely there will be illegal sports betting since (some) individuals would not desire to leave an audit trail by entering the white market," says Mr Oborne.


He includes that people who use unaccounted money to put big bets will never gamble lawfully.


Approval concern


For sports betting gambling to be legalised, parliamentary approval will be required to develop a new law, and politically this will be a tough concept to sell.
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"Even though lots of people are involved in some sort of sports betting - it's still a questionable problem for lots of," states our unnamed punter.


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


"The process is so long and challenging that it will take years," states Mr Ranina."That's why, we are cynical about this ending up being a truth anytime soon."


Yet with the concept having actually been backed by an official panel for the very first time, a minimum of a debate has actually fired up around a subject - which previously was considered a taboo.
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