For Sports Gambling to Be Legalised

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Howzat? The clamour to legalise sports betting in India

Howzat? The clamour to legalise sports betting 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 house situated in main Mumbai, a middle-aged guy is viewing the game, nervously. He's sitting on the edge of his grey colour couch with his smart phone glued to his right hand.


He has made more than 10 hire the last thirty minutes - not to go over the match but to keep modifying his bet.


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


"I think India is winning, make the change," he tells his bookmaker on the phone.


And a couple of minutes later on his forecast becomes a reality, as India wins the match in a nail-biting surface.


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


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


Aside from horse racing, sports betting of any kind is not permitted in India. Despite that, prohibited wagering distributes thrive in the nation.


'Black money'

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


With no legal opportunity, punters position bets using their phones by making calls to bookmakers. Gamblers can bet on anything related to the cricket match, from who is winning to the greatest specific run scorer.


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


The 1867 Public Gambling Act bars any kind of gaming in India, however unlike in the US which has a law restricting internet sports betting, there is nothing comparable here.

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And overseas sports betting business are utilizing this loophole to entice Indians. Despite the fact that there are no online wagering operators based out of India, a lot individuals have actually registered accounts with overseas firms.


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


But despite this, it is "offline gambling", done through phone calls which control the marketplace.


Calls for legalisation


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


The Justice RM Lodha Commission was set up to suggest modifications in the performance of India's cricket regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal emerged.


Two franchises have been prohibited for 2 years after some gamers and team officials were condemned of repairing parts of the match at the request of bookmakers.


The panel also argues that legalised sports betting will bring in tax earnings for the exchequer that could total up to $2bn a year.


Even bettors feel that legalising sports betting is a relocation in the ideal instructions.


"I do not mind paying some money out my earnings, as long as I can gamble openly," states our cricket bettor.


It would also open a huge business chance for licensed bookies and international online wagering business to set up operations in India.


And it would help restrict match fixing in cricket and other sports betting, argue many, by assisting make deals involved in gambling more transparent.

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"If you work along with wagering business, you will have a very effective approach of stamping out match fixing," says George Oborne, who runs a mock sports betting site, India Bet.


But many also believe, that the taxes imposed on the gambler and the bookmaker will have to be reasonable to make it attractive enough for them to bet lawfully.


However, there are restrictions.


"Definitely there will be illegal sports betting because (some) individuals wouldn't wish to leave an audit trail by getting in the white market," states Mr Oborne.


He adds that individuals who utilize unaccounted cash to put big bets will never ever bet lawfully.


Approval question

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


"Even though many individuals are associated with some sort of sports betting - it's still a questionable issue 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 in their territory.


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


Yet with the idea having been endorsed by an official panel for the first time, a minimum of a debate has actually sparked around a subject - which previously was thought about a taboo.

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