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 press reporter

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

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

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

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

"I think India is winning, make the modification," he tells his bookmaker on the phone.
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And a couple of minutes later on his prediction comes real, as India wins the match in a nail-biting finish.

"I have made $200 today," he states with a childlike glee.
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For more than 3 decades he's been banking on cricket matches. We can't reveal his name as what he's doing is unlawful in India.

Besides horse racing, sports betting wagering of any kind is not enabled in India. Despite that, illegal sports betting syndicates thrive in the country.

'Black cash'

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

Without any legal avenue, punters put 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 individual run scorer.

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

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

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

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

But despite this, it is "offline gambling", done through phone calls which the market.

Require legalisation

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

The Justice RM Lodha Commission was set up to recommend modifications 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 came to light.

Two franchises have been banned for two years after some gamers and team authorities were condemned of fixing parts of the match at the request of bookies.

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

Even bettors feel that legalising sports betting wagering is a move in the right direction.

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

It would likewise open a huge business opportunity for licensed bookmakers and international online sports betting companies to set up operations in India.

And it would help restrict match repairing in cricket and other sports betting, argue numerous, by assisting make deals associated with gambling more transparent.

"If you work alongside wagering companies, you will have an extremely reliable method of marking out match repairing," states George Oborne, who runs a mock sports betting website, India Bet.

But many likewise believe, that the taxes imposed on the gambler and the bookie will need to be sensible to make it appealing enough for them to bet lawfully.

However, there are limitations.
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"Definitely there will be prohibited wagering due to the fact that (some) people wouldn't wish to leave an audit trail by going into the white market," says Mr Oborne.

He adds that people who use unaccounted money to put big bets will never bet lawfully.

Approval concern

For sports betting gambling to be legalised, parliamentary approval will be required to produce a brand-new law, and politically this will be a tough idea to offer.

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

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

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

Yet with the concept having actually been endorsed by a main panel for the first time, at least a dispute has actually ignited around a subject - which previously was thought about a taboo.