For Sports Gambling to Be Legalised

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Howzat? The clamour to legalise sports betting in India

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Howzat? The clamour to legalise sports betting 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 needing 17 runs to win against Australia.


In his two-bedroom home situated in central Mumbai, a middle-aged male is enjoying the video game, nervously. He's resting on the edge of his grey colour sofa with his mobile phone glued to his ideal hand.


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


Five minutes previously his money was on Australia, today 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 tells his bookie on the phone.

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


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


For more than 3 decades 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 wagering of any kind is not allowed India. Despite that, unlawful sports betting distributes flourish in the country.


'Black cash'


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


Without any legal avenue, punters place bets using their phones by making calls to bookies. Gamblers can bet on anything related to the cricket match, from who is winning to the greatest specific run scorer.


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


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


And offshore sports betting companies are using this loophole to lure Indians. Although there are no online sports betting operators based out of India, a lot individuals have signed up accounts with offshore firms.


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


But in spite of this, it is "offline gaming", done through phone calls which dominate the market.


Require legalisation


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


The Justice RM Lodha Commission was set up to recommend modifications 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 emerged.


Two franchises have been prohibited for 2 years after some players and group authorities were found guilty of fixing parts of the match at the request of bookies.


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


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


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


It would also open a substantial company chance for licensed bookmakers and international online sports betting companies to set up operations in India.


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


"If you work together with wagering companies, you will have an extremely effective approach of marking out match repairing," states George Oborne, who runs a mock wagering site, India Bet.


But many likewise believe, that the taxes imposed on the bettor and the bookmaker will need to be reasonable to make it attractive enough for them to gamble lawfully.


However, there are limitations.


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


He adds that individuals who use unaccounted cash to position big bets will never gamble legally.


Approval question

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For sports betting gambling to be legalised, parliamentary approval will be required to develop a brand-new law, and politically this will be a hard idea to offer.


"Although lots of people are associated with some sort of sports betting - it's still a questionable issue for lots of," states our unnamed punter.


And considered that India has a federal structural - each state will have to also pass a separate law to legalise sports betting in their territory.

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"The process is so long and difficult that it will take years," says Mr Ranina."That's why, we are cynical about this coming true anytime quickly."


Yet with the concept having been backed by an official panel for the first time, a minimum of an argument has sparked around a topic - which till now was considered a taboo.

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