1 For Sports Gambling to Be Legalised

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Howzat? The clamour to legalise sports betting wagering 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 requiring 17 runs to win versus Australia.

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

He has made more than 10 contact 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 think India is winning, make the change," he informs his bookie 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 childish glee.

For more than 3 decades he's been banking on cricket matches. We can't expose his name as what he's doing is illegal in India.

Besides horse racing, sports betting wagering of any kind is not allowed in India. Despite that, unlawful sports betting syndicates prosper 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.

With no legal avenue, punters position bets using their phones by making calls to bookmakers. Gamblers can bet on anything related to the cricket match, from who is winning to the greatest individual run scorer.

The majority of these transactions involve so-called "black money", which is cash not declared 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 internet gambling, there is nothing comparable here.

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

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

But in spite of this, it is "offline sports betting", done through phone calls which control the marketplace.

Calls for legalisation

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

The Justice RM Lodha Commission was set up to suggest changes 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 emerged.

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

The panel also argues that legalised wagering will generate tax incomes for the exchequer that might amount to $2bn a year.

Even bettors feel that legalising sports betting wagering is a move in the ideal instructions.

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

It would likewise open a huge organization chance for licensed bookies and international online wagering business to set up operations in India.

And it would help restrict match fixing in cricket and other sports betting, argue many, by helping make transactions associated with gambling more transparent.

"If you work alongside wagering companies, you will have a very efficient technique of stamping out match fixing," says George Oborne, who runs a mock sports betting website, India Bet.

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

However, there are limitations.

"Definitely there will be prohibited wagering because (some) individuals would not want to leave an audit path by entering the white market," says Mr Oborne.

He adds that individuals who utilize unaccounted cash to place huge bets will never gamble legally.

Approval concern

For sports betting gambling to be legalised, parliamentary approval will be required to create a brand-new law, and politically this will be a hard concept to offer.

"Even though numerous individuals are involved in some sort of gambling - it's still a controversial problem for numerous," says our unnamed punter.

And offered that India has a federal structural - each state will need to likewise pass a separate law to legalise sports betting in their area.
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"The process is so long and tricky that it will take years," states Mr Ranina."That's why, we are negative about this becoming a truth anytime soon."

Yet with the concept having been endorsed by a main panel for the first time, a minimum of a debate has sparked around a subject - which previously was thought about a taboo.