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 reporter

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

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

He has made more than 10 contact the last 30 minutes - not to go over the match but to keep modifying his bet.

Five minutes previously his money was on Australia, now as the Indian batsman gets prepared to face the last over he's altered his mind.

"I think India is winning, make the modification," he tells his bookie on the phone.

And a couple of minutes later his prediction comes to life, 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 three decades he's been sports betting on cricket matches. We can't reveal his name as what he's doing is unlawful in India.

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

'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 gambling cash is directed towards cricket.

Without any legal opportunity, punters place bets utilizing their phones by making calls to bookmakers. Gamblers can bet on anything related to the cricket match, from who is winning to the greatest specific run scorer.

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

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

And 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 signed up accounts with overseas companies.

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

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

Calls for legalisation

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

The Justice RM Lodha Commission was established to suggest changes in the performance 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 banned for 2 years after some players and group officials were found guilty of repairing parts of the match at the behest of bookmakers.

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

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

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

It would likewise open a big organization opportunity for certified bookies and worldwide online wagering companies to establish operations in India.

And it would assist limit match repairing in cricket and other sports betting, argue lots of, by helping make deals involved in gambling more transparent.

"If you work along with wagering companies, you will have an extremely reliable technique of marking out match repairing," says George Oborne, who runs a mock wagering website, India Bet.

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

However, there are restrictions.

"Definitely there will be unlawful sports betting since (some) individuals would not wish to leave an audit path by getting in the white market," says Mr Oborne.

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

Approval question

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

"Despite the fact that many individuals are associated with some sort of gambling - it's still a questionable problem for numerous," says our unnamed punter.

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

Yet with the concept having actually been backed by a main panel for the first time, at least a dispute has actually fired up around a topic - which up until now was thought about a taboo.
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