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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 press reporter
It is the last over of the cricket match, with India requiring 17 runs to win against Australia.
In his two-bedroom house located in main Mumbai, a middle-aged guy is viewing the 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 contact the last 30 minutes - not to discuss the match but to keep modifying his bet.
Five minutes previously his money was on Australia, now as the Indian batsman prepares yourself to deal with the last over he's altered his mind.
"I think India is winning, make the modification," he informs his bookie on the phone.
And a few minutes later his prediction becomes a reality, as India wins the match in a nail-biting finish.
"I have made $200 today," he states with a childish glee.
For more than three decades he's been sports betting on cricket matches. We can't expose his name as what he's doing is illegal in India.
Besides horse racing, sports betting wagering of any kind is not allowed India. Despite that, illegal sports betting syndicates prosper in the nation.
'Black money'
According to the Doha-based International Centre for sports betting Security, India's unlawful sports betting market is worth some $150bn a year. And much of that sports betting cash is directed towards cricket.
With no legal opportunity, punters put 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 individual run scorer.
Most of these deals involve so-called "black cash", which is cash not declared to the taxman.
The 1867 Public Gambling Act bars any kind of gaming in India, but unlike in the US which has a law prohibiting web gaming, there is absolutely nothing similar here.
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And offshore wagering business are utilizing this loophole to entice Indians. Even though there are no online wagering operators based out of India, a lot individuals have actually with offshore companies.
"Legally you can escape [with this], as the law is ambiguous for online sports betting," states Mumbai- based legal representative HP Ranina.
But regardless of this, it is "offline gaming", done through phone calls which dominate the market.
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Calls for legalisation
The clamour to legalise sports betting in cricket has grown after a panel appointed by India's Supreme Court proposed the concept, 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 performance of India's cricket regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League sports betting scandal came to light.
Two franchises have actually been prohibited for two years after some gamers and group authorities were condemned of repairing parts of the match at the request of bookmakers.
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The panel likewise argues that legalised wagering will bring in tax incomes for the exchequer that might amount to $2bn a year.
Even bettors feel that legalising sports betting is a move in the ideal direction.
"I do not mind paying some money out my profits, as long as I can gamble openly," states our cricket bettor.
It would also open a substantial business opportunity for licensed bookmakers and worldwide online wagering business to establish operations in India.
And it would help restrict match repairing in cricket and other sports betting, argue lots of, by helping make transactions included in sports betting more transparent.
"If you work alongside wagering companies, you will have a really efficient technique of marking out match fixing," says George Oborne, who runs a mock wagering website, India Bet.
But numerous likewise think, that the taxes imposed on the gambler and the bookie will have to be affordable to make it attractive enough for them to bet legally.
However, there are limitations.
"Definitely there will be unlawful wagering due to the fact that (some) individuals would not want to leave an audit path by getting in the white market," says Mr Oborne.
He adds that individuals who use unaccounted money to position huge bets will never gamble legally.
Approval concern
For sports betting gambling to be legalised, parliamentary approval will be required to create a brand-new law, and politically this will be a difficult concept to sell.
"Although many individuals are involved in some sort of sports betting - it's still a controversial issue for lots of," says our unnamed punter.
And considered that India has a federal structural - each state will have to also pass a separate law to legalise sports betting gambling in their area.
"The procedure is so long and challenging that it will take years," states Mr Ranina."That's why, we are cynical about this coming true anytime soon."
Yet with the concept having actually been backed by a main panel for the very first time, at least a dispute has fired up around a subject - which previously was thought about a taboo.
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For Sports Gambling to Be Legalised
darinhalford73 edited this page 2025-01-01 01:39:20 +08:00