For Sports Gambling To Be Legalised
Howzat? The clamour to legalise sports betting in India
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Published
5 February 2016
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By Sameer Hashmi
Mumbai Business reporter
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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 guy is watching the game, nervously. He's resting on the edge of his grey colour sofa with his mobile phone glued to his right-hand man.
He has made more than 10 hire the last thirty minutes - not to talk about the match but to keep revising his bet.
Five minutes previously his money was on Australia, however now as the Indian batsman gets ready to deal with the last over he's changed his mind.
"I believe India is winning, make the modification," he informs his bookie on the phone.
And a few minutes later his forecast 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 three years he's been banking on cricket matches. We can't expose 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 wagering syndicates prosper in the nation.
'Black cash'
According to the Doha-based International Centre for sports betting Security, India's illegal sports betting market deserves some $150bn a year. And much of that gambling money is directed towards cricket.
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With no legal avenue, punters place bets using their phones by making calls to bookmakers. Gamblers can bank on anything related to the cricket match, from who is winning to the highest private run scorer.
Most of these deals include so-called "black cash", which is money not stated to the taxman.
The 1867 Public Gambling Act bars any sort of gambling in India, however unlike in the US which has a law prohibiting web sports betting, there is nothing comparable here.
And overseas wagering companies are using this loophole to entice Indians. Although there are no online wagering operators based out of India, a lot individuals have actually registered accounts with offshore firms.
"Legally you can get away [with this], as the law is ambiguous for online gaming," says Mumbai- based legal representative HP Ranina.
But in spite of this, it is "offline gaming", done through telephone call which control the marketplace.
Require legalisation
The clamour to legalise wagering in cricket has actually grown after a panel appointed by India's Supreme Court proposed the concept, 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 regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal came to light.
Two franchises have actually been banned for two years after some players and team authorities were condemned of repairing parts of the match at the behest of bookmakers.
The panel likewise argues that legalised wagering will generate tax profits for the exchequer that might total up to $2bn a year.
Even bettors feel that legalising sports betting wagering is a relocation in the ideal direction.
"I don't mind paying some cash out my earnings, as long as I can bet openly," states our cricket bettor.
It would likewise open a big organization chance for licensed bookies and global online sports betting companies to establish operations in India.
And it would help limit match fixing in cricket and other sports betting, argue many, by helping make transactions included in gambling more transparent.
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"If you work alongside sports betting business, you will have a really reliable technique of stamping out match repairing," says George Oborne, who runs a site, India Bet.
But numerous also believe, that the taxes imposed on the bettor and the bookie will need to be sensible to make it attractive enough for them to gamble legally.
However, there are constraints.
"Definitely there will be unlawful sports betting since (some) people would not wish to leave an audit trail by going into the white market," says Mr Oborne.
He adds that individuals who use unaccounted cash to position huge bets will never ever gamble legally.
Approval concern
For sports betting to be legalised, parliamentary approval will be required to create a new law, and politically this will be a tough idea to sell.
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"Although numerous individuals are involved in some sort of sports betting - it's still a questionable concern for lots of," states our unnamed punter.
And offered that India has a federal structural - each state will need to also pass a separate law to legalise sports betting gambling in their area.
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"The procedure is so long and challenging that it will take years," states 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 very first time, a minimum of a dispute has actually fired up around a topic - which till now was considered a taboo.
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