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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 reporter

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

In his two-bedroom home located in central Mumbai, a middle-aged male is viewing 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 actually made more than 10 employ the last 30 minutes - not to talk about the match but to keep revising his bet.

Five minutes previously his cash was on Australia, today as the Indian batsman prepares to face the last over he's changed his mind.

"I think India is winning, make the modification," he informs his bookmaker on the phone.

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

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

For more than three years he's been banking on cricket matches. We can't reveal his name as what he's doing is illegal in India.
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Other than horse racing, sports betting of any kind is not allowed India. Despite that, illegal sports betting distributes thrive in the nation.

'Black cash'

According to the Doha-based International Centre for sports betting Security, India's unlawful sports betting wagering market deserves some $150bn a year. And much of that gambling cash is directed towards cricket.
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With no legal avenue, punters put bets using their phones by making calls to bookies. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest private run scorer.

The majority of these deals involve so-called "black money", which is money 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 restricting web sports betting, there is absolutely nothing comparable here.
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And offshore wagering companies are using this loophole to tempt Indians. Despite the fact that there are no online sports betting operators based out of India, a lot individuals have actually registered accounts with offshore firms.

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

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

Require legalisation

The clamour to legalise wagering in cricket has actually grown after a panel appointed by India's Supreme Court proposed the idea, stating it would assist secure down on in the nation's preferred sport.

The Justice RM Lodha Commission was established to recommend changes 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 emerged.

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

The panel likewise argues that legalised sports betting will bring in tax earnings for the exchequer that might amount to $2bn a year.
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Even gamblers feel that legalising sports betting wagering is a move in the ideal instructions.

"I don't mind paying some cash out my earnings, as long as I can bet publicly," says our cricket gambler.
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It would likewise open a huge business chance for certified bookmakers and global online wagering companies to set up operations in India.
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And it would help restrict match fixing in cricket and other sports betting, argue numerous, by assisting make deals included in sports betting more transparent.

"If you work together with sports betting business, you will have an extremely reliable approach of stamping out match repairing," states George Oborne, who runs a mock wagering site, India Bet.

But many also think, that the taxes imposed on the gambler and the bookmaker will need to be sensible to make it attractive enough for them to gamble lawfully.

However, there are restrictions.

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

He adds that individuals who utilize unaccounted cash to position big bets will never ever gamble lawfully.

Approval question

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

"Despite the fact that lots of people are associated with some sort of gaming - it's still a controversial issue for lots of," states our unnamed punter.

And given that India has a federal structural - each state will have to likewise pass a different law to legalise sports betting in their area.
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"The procedure is so long and difficult that it will take years," states Mr Ranina."That's why, we are cynical about this ending up being a reality anytime quickly."

Yet with the concept having been endorsed by an official panel for the very first time, a minimum of an argument has fired up around a topic - which previously was thought about a taboo.