For Sports Gambling To Be Legalised

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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 needing 17 runs to win against Australia.


In his two-bedroom home located in central Mumbai, a middle-aged man is watching the game, nervously. He's resting on the edge of his grey colour couch with his smart phone glued to his right-hand man.
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He has made more than 10 calls in the last 30 minutes - not to go over the match however to keep modifying his bet.


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


"I believe India is winning, make the modification," he informs his bookmaker on the phone.


And a few minutes later his prediction becomes a reality, as India wins the match in a nail-biting finish.


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


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


Other than horse racing, sports betting wagering of any kind is not allowed India. Despite that, illegal sports betting syndicates prosper in the nation.


'Black money'
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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 sports betting money is directed towards cricket.


With no legal opportunity, punters put bets utilizing their phones by making calls to bookies. Gamblers can bank on anything related to the cricket match, from who is winning to the highest private run scorer.


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


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


And offshore sports betting companies are utilizing this loophole to tempt Indians. Although there are no online wagering operators based out of India, a lot individuals have actually registered accounts with overseas firms.


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


But regardless of this, it is "offline gaming", done through call which dominate the marketplace.


Require legalisation


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


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


Two franchises have actually been prohibited for 2 years after some gamers and group officials were discovered guilty of repairing parts of the match at the wish of bookmakers.


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 is a move in the ideal instructions.


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


It would likewise open a substantial organization opportunity for licensed bookmakers and global online sports betting companies to establish operations in India.


And it would help restrict match repairing in cricket and other sports betting, argue numerous, by assisting make transactions included in gambling more transparent.


"If you work along with sports betting business, you will have a really efficient method of marking out match fixing," says George Oborne, who runs a mock wagering website, India Bet.


But lots of likewise think, that the taxes levied on the bettor and the bookmaker will need to be sensible to make it attractive enough for them to gamble legally.


However, there are limitations.


"Definitely there will be illegal sports betting since (some) people wouldn't wish to leave an audit path by getting in the white market," says Mr Oborne.


He adds that individuals who use unaccounted money to position huge bets will never ever gamble legally.


Approval concern


For to be legalised, parliamentary approval will be required to create a new law, and politically this will be a hard concept to sell.


"Even however many individuals are included in some sort of gaming - it's still a controversial issue for many," says our unnamed punter.


And considered that India has a federal structural - each state will have to likewise pass a separate law to legalise sports betting gambling in their area.
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"The procedure is so long and challenging that it will take years," says Mr Ranina."That's why, we are cynical about this ending up being a reality anytime soon."


Yet with the idea having actually been backed by a main panel for the very first time, a minimum of a debate has actually ignited around a topic - which previously was considered a taboo.
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