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 guy is watching the 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 made more than 10 hire the last thirty minutes - not to discuss the match however to keep modifying his bet.

Five minutes earlier his cash was on Australia, now as the Indian batsman prepares to face the last over he's changed his mind.
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"I believe India is winning, make the modification," he tells his bookie on the phone.

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

"I have made $200 today," he states with a childish 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 unlawful in India.
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Aside from horse racing, sports betting wagering of any kind is not enabled in India. Despite that, prohibited sports betting distributes prosper in the nation.

'Black money'

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 sports betting money is directed towards cricket.
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With no legal opportunity, punters put bets utilizing their phones by making calls to bookmakers. Gamblers can bank on anything related to the cricket match, from who is winning to the greatest specific run scorer.

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

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

And offshore wagering business are using this loophole to . Even though there are no online wagering operators based out of India, a lot individuals have actually signed up accounts with offshore firms.

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

But in spite of this, it is "offline sports betting", done through call which dominate the market.

Require legalisation

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

The Justice RM Lodha Commission was established 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 sports betting scandal came to light.

Two franchises have actually been prohibited for two years after some players and team officials were condemned of fixing parts of the match at the request of bookies.

The panel likewise argues that legalised wagering 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 relocation in the right instructions.

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

It would also open a huge company opportunity for certified bookies and worldwide online wagering companies to set up operations in India.
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And it would assist restrict match repairing in cricket and other sports betting, argue many, by assisting make deals associated with sports betting more transparent.

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

But many 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 sports betting because (some) individuals wouldn't wish to leave an audit path by going into the white market," states Mr Oborne.

He adds that people who use unaccounted money to put huge bets will never gamble lawfully.

Approval question

For sports betting to be legalised, parliamentary approval will be needed to develop a new law, and politically this will be a difficult concept to offer.

"Although many individuals are associated with some sort of sports betting - it's still a controversial problem for numerous," states 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 in their area.

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

Yet with the idea having been backed by an official panel for the very first time, at least an argument has sparked around a subject - which previously was thought about a taboo.