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 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 needing 17 runs to win versus 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 right-hand man.


He has actually made more than 10 calls in the last 30 minutes - not to go over the match however to keep revising his bet.


Five minutes earlier his cash was on Australia, now as the Indian batsman gets prepared to deal with the last over he's altered his mind.


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


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


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


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


Other than horse racing, sports betting wagering of any kind is not enabled in India. Despite that, unlawful sports betting distributes thrive in the nation.


'Black money'


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.


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 individual run scorer.


Most of these transactions include so-called "black cash", which is cash not declared to the taxman.


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


And overseas sports betting companies are using this loophole to tempt Indians. Even though there are no online wagering operators based out of India, a lot people have actually signed up accounts with offshore firms.


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

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


Require legalisation


The clamour to legalise sports betting in cricket has grown after a panel designated by India's Supreme Court proposed the concept, saying it would help clamp down on corruption in the nation's favourite 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 wagering scandal came to light.


Two franchises have actually been prohibited for two years after some gamers and team authorities were found guilty of fixing parts of the match at the request of bookmakers.


The panel likewise argues that legalised wagering will bring in tax revenues for the exchequer that might total up to $2bn a year.


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


"I don't mind paying some money out my earnings, as long as I can gamble publicly," states our cricket gambler.


It would likewise open a huge service opportunity for certified bookies and worldwide online wagering companies to establish operations in India.


And it would help limit match fixing in cricket and other sports betting, argue numerous, by helping make transactions involved in gambling more transparent.


"If you work alongside sports betting business, you will have an extremely reliable method of marking out match repairing," states George Oborne, who runs a mock wagering website, India Bet.


But lots of also believe, that the taxes imposed on the bettor and the bookmaker will need to be reasonable to make it appealing enough for them to gamble lawfully.


However, there are limitations.


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


He includes that people who utilize unaccounted cash to position big bets will never ever bet legally.


Approval question


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


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


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


"The process is so long and tricky that it will take years," says Mr Ranina."That's why, we are negative about this becoming a reality anytime soon."


Yet with the idea having been backed by a main panel for the very first time, a minimum of a dispute has actually sparked around a subject - which previously was thought about a taboo.

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