1 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 press reporter

It is the last over of the cricket match, with India requiring 17 go to win against Australia.

In his two-bedroom house located in main Mumbai, a middle-aged guy is seeing the video game, nervously. He's sitting on the edge of his grey colour couch with his smart phone glued to his right hand.

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

Five minutes previously his cash was on Australia, now as the Indian batsman gets all set to face the last over he's changed his mind.

"I believe India is winning, make the change," he tells his bookie on the phone.

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

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

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

Other than horse racing, sports betting of any kind is not permitted in India. Despite that, unlawful sports betting syndicates prosper in the country.

'Black money'

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

With no legal avenue, punters position bets using their phones by making calls to bookies. Gamblers can bank on anything related to the cricket match, from who is winning to the highest individual 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 gambling in India, however unlike in the US which has a law restricting internet gaming, there is nothing similar here.

And offshore sports betting business are utilizing this loophole to tempt Indians. Even though there are no online wagering operators based out of India, a lot people have actually registered accounts with offshore firms.

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

But despite this, it is "offline gaming", done through call which control the marketplace.

Require legalisation

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

The Justice RM Lodha Commission was set up 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 wagering scandal came to light.

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

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

Even bettors feel that legalising sports betting wagering is a relocation in the ideal direction.

"I do not mind paying some cash out my earnings, as long as I can bet openly," states our cricket gambler.

It would also open a huge business opportunity for certified bookmakers and worldwide online sports betting business to set up operations in India.

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 companies, you will have a very reliable method of stamping out match repairing," says George Oborne, who runs a mock wagering site, India Bet.

But numerous likewise think, that the taxes levied on the gambler and the bookie will have to be reasonable to make it attractive enough for them to gamble legally.

However, there are restrictions.

"Definitely there will be unlawful wagering since (some) individuals would not desire to leave an audit trail by going into the white market," states Mr Oborne.

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

Approval concern

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

"Although many individuals are involved in some sort of gaming - it's still a questionable problem for many," 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.
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"The procedure is so long and challenging that it will take years," says Mr Ranina."That's why, we are negative about this becoming a truth anytime quickly."

Yet with the concept having actually been endorsed by a main panel for the very first time, at least an argument has actually ignited around a subject - which up until now was thought about a taboo.