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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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 go 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 cellphone glued to his ideal hand.

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

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

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

And a couple of minutes later his forecast becomes a reality, 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 prohibited in India.

Aside from horse racing, sports betting of any kind is not enabled in India. Despite that, prohibited sports betting distributes flourish in the nation.

'Black cash'

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

Without any legal opportunity, punters position bets using their phones by making calls to bookies. Gamblers can bank on anything related to the cricket match, from who is winning to the highest specific run scorer.

The majority of these transactions include so-called "black cash", which is money not stated to the taxman.
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The 1867 Public Gambling Act bars any kind of gaming in India, however unlike in the US which has a law restricting internet gambling, there is absolutely nothing similar here.
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And offshore sports betting 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 people have signed up accounts with offshore companies.

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

But in spite of this, it is "offline gaming", done through call which control the market.

Calls for legalisation

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

The Justice RM Lodha Commission was established to suggest modifications in the functioning 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 banned for 2 years after some players and group authorities were discovered guilty of fixing parts of the match at the request of bookmakers.

The panel likewise argues that legalised sports betting will generate tax earnings for the exchequer that might amount to $2bn a year.

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

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

It would likewise open a huge business chance for licensed bookmakers and worldwide online sports betting companies to establish operations in India.

And it would help limit match repairing in cricket and other sports betting, argue many, by helping make deals involved in sports betting more transparent.

"If you work along with wagering business, you will have a very efficient approach of marking out match repairing," says George Oborne, who runs a mock wagering site, India Bet.

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

However, there are constraints.

"Definitely there will be illegal wagering because (some) individuals wouldn't wish to leave an audit trail by going into the white market," says Mr Oborne.

He includes that people who utilize unaccounted money to put huge bets will never bet legally.

Approval concern

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

"Although lots of people are included in some sort of gaming - it's still a questionable issue for many," states our unnamed punter.

And considered that India has a federal structural - each state will need to also pass a separate law to gambling in their area.

"The procedure is so long and challenging that it will take years," says Mr Ranina."That's why, we are cynical about this becoming a truth anytime quickly."

Yet with the concept having actually been backed by a main panel for the very first time, at least a debate has sparked around a topic - which previously was considered a taboo.