1 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 requiring 17 go to win against Australia.

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

He has actually made more than 10 calls in the last 30 minutes - not to discuss the match however to keep revising his bet.

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

"I believe India is winning, make the modification," he informs his bookmaker on the phone.
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And a few minutes later on his prediction becomes a reality, as India wins the match in a nail-biting finish.

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

Other than horse racing, sports betting of any kind is not allowed India. Despite that, illegal sports betting syndicates grow in the nation.

'Black money'

According to the Doha-based International Centre for sports betting Security, India's prohibited sports betting wagering market is worth some $150bn a year. And much of that sports betting money is directed towards cricket.

With no legal avenue, punters put bets utilizing their phones by making calls to bookmakers. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest individual run scorer.

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

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

And offshore sports betting companies are using this loophole to tempt Indians. Although there are no online wagering operators based out of India, a lot people have signed up accounts with offshore companies.

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

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

Calls for legalisation

The clamour to legalise sports betting in cricket has grown after a panel designated by India's Supreme Court proposed the idea, stating it would help clamp down on corruption in the country's favourite sport.

The Justice RM Lodha Commission was set up to suggest modifications in the performance of India's cricket regulative 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 2 years after some players and team authorities were condemned of fixing parts of the match at the wish of bookmakers.

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

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

"I don't mind paying some money out my earnings, as long as I can bet openly," states our .

It would likewise open a substantial business opportunity for certified bookmakers and worldwide online sports betting business to set up operations in India.

And it would assist restrict match repairing in cricket and other sports betting, argue many, by assisting make transactions included in gambling more transparent.

"If you work together with sports betting business, you will have a very effective method of stamping out match fixing," says George Oborne, who runs a mock wagering website, India Bet.

But many likewise believe, that the taxes levied on the gambler and the bookie will need to be affordable to make it appealing enough for them to gamble legally.

However, there are limitations.

"Definitely there will be illegal wagering because (some) individuals would not desire to leave an audit path by going into the white market," states Mr Oborne.

He adds that individuals who use unaccounted cash to place huge bets will never ever gamble lawfully.

Approval question

For sports betting gambling to be legalised, parliamentary approval will be required to produce a brand-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 gambling - it's still a questionable issue for many," says our unnamed punter.
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And provided that India has a federal structural - each state will need to also pass a separate law to legalise sports betting gambling in their area.

"The process is so long and tricky that it will take years," says Mr Ranina."That's why, we are negative about this becoming a truth anytime soon."

Yet with the concept having been backed by an official panel for the very first time, at least an argument has sparked around a subject - which previously was thought about a taboo.