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 runs to win versus Australia.

In his two-bedroom house 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 mobile phone glued to his best hand.

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

Five minutes earlier his cash was on Australia, and now as the Indian batsman prepares to face the last over he's altered his mind.

"I believe India is winning, make the modification," he informs his bookie on the phone.

And a couple of minutes later on his forecast comes true, as the match in a nail-biting surface.

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

For more than 3 decades he's been banking 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, prohibited sports betting syndicates prosper in the nation.

'Black cash'

According to the Doha-based International Centre for sports betting Security, India's prohibited 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 bookmakers. Gamblers can bank on anything associated to the cricket match, from who is winning to the greatest specific run scorer.

The majority of these deals include so-called "black cash", which is cash not declared to the taxman.

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

And offshore wagering companies are utilizing this loophole to draw Indians. Despite the fact that there are no online sports betting operators based out of India, a lot people have actually signed up accounts with offshore companies.

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

But despite 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, saying it would assist clamp down on corruption in the nation's preferred sport.

The Justice RM Lodha Commission was established to recommend 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 sports betting scandal emerged.

Two franchises have actually been prohibited for 2 years after some gamers and group officials were condemned of repairing parts of the match at the request of bookmakers.

The panel likewise argues that legalised wagering will bring in tax incomes for the exchequer that could amount to $2bn a year.

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

"I don't mind paying some money out my revenues, as long as I can gamble publicly," says our cricket bettor.

It would also open a huge organization opportunity for licensed bookies and worldwide online wagering business to set up operations in India.

And it would assist restrict match fixing in cricket and other sports betting, argue many, by helping make deals involved in gambling more transparent.

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

But many also believe, that the taxes imposed on the gambler and the bookie will have to be reasonable to make it appealing enough for them to gamble legally.

However, there are restrictions.

"Definitely there will be illegal wagering since (some) individuals would not wish to leave an audit trail by entering the white market," says Mr Oborne.

He includes that people who utilize unaccounted cash to place huge bets will never bet lawfully.

Approval concern

For sports betting gambling to be legalised, parliamentary approval will be needed to develop a new law, and politically this will be a difficult idea to sell.

"Although lots of people are associated with some sort of gambling - it's still a questionable problem for numerous," states our unnamed punter.

And considered that India has a federal structural - each state will have to also pass a different law to legalise sports betting gambling in their territory.

"The process is so long and challenging that it will take years," states Mr Ranina."That's why, we are negative about this coming true anytime quickly."

Yet with the idea having actually been backed by a main panel for the very first time, a minimum of a dispute has sparked around a subject - which till now was thought about a taboo.
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