1 For Sports Gambling to Be Legalised

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Howzat? The clamour to legalise sports betting in India

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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 needing 17 go to win versus Australia.

In his two-bedroom home situated in central Mumbai, a middle-aged guy is viewing the game, nervously. He's resting on the edge of his grey colour sofa with his mobile phone glued to his best hand.

He has actually made more than 10 employ the last thirty minutes - not to talk about the match but to keep modifying his bet.

Five minutes earlier his money was on Australia, and 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 tells his bookie on the phone.

And a couple of minutes later on his prediction comes real, as India wins the match in a nail-biting finish.

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

For more than 3 years he's been wagering on cricket matches. We can't expose 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, unlawful sports betting syndicates flourish 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 sports betting money is directed towards cricket.

Without any legal avenue, punters position bets utilizing their phones by making calls to bookies. Gamblers can wager on anything related to the cricket match, from who is winning to the greatest run scorer.

Most of these deals involve so-called "black cash", which is cash not stated to the taxman.

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

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

"Legally you can get away [with this], as the law is uncertain for online gaming," says Mumbai- based attorney HP Ranina.

But despite this, it is "offline gambling", done through call which dominate the market.

Require legalisation

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

The Justice RM Lodha Commission was established to recommend 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 wagering scandal came to light.

Two franchises have actually been prohibited for two years after some gamers and group authorities were found guilty of repairing parts of the match at the behest of bookies.

The panel also argues that legalised sports betting will generate tax earnings for the exchequer that might amount 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 profits, as long as I can gamble openly," states our cricket bettor.

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

And it would help restrict match repairing in cricket and other sports betting, argue lots of, by assisting make deals associated with sports betting more transparent.

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

But lots of also think, that the taxes levied on the gambler and the bookie will have to be affordable to make it appealing enough for them to gamble legally.

However, there are limitations.

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

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

Approval concern

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

"Although many individuals are included in some sort of gambling - it's still a controversial concern for numerous," says our unnamed punter.
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And offered that India has a federal structural - each state will need to also pass a different law to legalise sports betting in their territory.
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"The process 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 idea having actually been backed by a main panel for the very first time, a minimum of an argument has sparked around a subject - which previously was considered a taboo.