1 For Sports Gambling to Be Legalised

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Howzat? The clamour to legalise sports betting wagering 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 requiring 17 runs to win against Australia.
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In his two-bedroom house located in central Mumbai, a middle-aged man is viewing the game, nervously. He's resting on the edge of his grey colour couch with his smart phone glued to his best hand.

He has made more than 10 calls in the last 30 minutes - not to discuss the match but to keep modifying his bet.

Five minutes previously his money was on Australia, today as the Indian batsman gets prepared 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 couple of minutes later on his forecast comes real, as India wins the match in a nail-biting finish.

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

For more than three decades he's been sports betting 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 allowed India. Despite that, prohibited wagering distributes thrive in the nation.

'Black money'

According to the Doha-based International Centre for sports betting Security, India's illegal sports betting market is worth 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 bookmakers. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest specific run scorer.

The majority of these deals include so-called "black money", which is cash 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 sports betting, there is absolutely nothing comparable here.

And overseas sports betting companies are utilizing this loophole to draw Indians. Even though there are no online sports betting 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 ambiguous for online gaming," says Mumbai- based legal representative HP Ranina.

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

Calls for legalisation

The clamour to legalise sports betting in cricket has actually grown after a panel appointed by India's Supreme Court proposed the concept, stating it would help clamp down on corruption in the country's preferred sport.

The Justice RM Lodha Commission was established to suggest 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 came to light.

Two franchises have been banned for two years after some gamers and group authorities were found guilty of fixing parts of the match at the wish of bookmakers.

The panel likewise argues that legalised sports betting will bring in tax revenues for the exchequer that could total up to $2bn a year.
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Even bettors feel that legalising sports betting is a move in the right direction.

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

It would also open a huge for certified bookies and global online sports betting companies to establish operations in India.

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

"If you work along with sports betting business, you will have a very reliable method of stamping out match fixing," states George Oborne, who runs a mock sports betting website, India Bet.

But lots of also think, that the taxes imposed on the gambler and the bookmaker will need to be sensible to make it appealing enough for them to gamble lawfully.
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However, there are restrictions.

"Definitely there will be prohibited wagering since (some) individuals wouldn't want to leave an audit trail by entering the white market," states Mr Oborne.

He includes that people who use unaccounted cash to put huge bets will never ever gamble legally.

Approval question

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

"Although lots of people are associated with some sort of gambling - it's still a controversial problem for numerous," says our unnamed punter.

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

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

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