For Sports Gambling To Be Legalised

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 versus Australia.


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


He has actually made more than 10 hire the last 30 minutes - not to talk about the match but to keep modifying his bet.


Five minutes previously his money was on Australia, but 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 change," he tells his bookie on the phone.


And a couple of minutes later on his forecast becomes a reality, as India wins the match in a .


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


For more than 3 years he's been sports betting 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 allowed in India. Despite that, illegal sports betting distributes grow in the nation.


'Black money'


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 sports betting cash is directed towards cricket.


With no legal opportunity, punters position bets utilizing their phones by making calls to bookmakers. Gamblers can wager on anything related to the cricket match, from who is winning to the greatest specific run scorer.


The majority of these deals involve so-called "black money", which is cash not declared to the taxman.
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The 1867 Public Gambling Act bars any kind of sports betting in India, however unlike in the US which has a law forbiding web gambling, there is absolutely nothing comparable here.


And overseas wagering business are using this loophole to lure Indians. Although there are no online wagering operators based out of India, a lot people have signed up accounts with offshore firms.
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"Legally you can escape [with this], as the law is uncertain for online gaming," states Mumbai- based legal representative HP Ranina.
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But in spite of this, it is "offline gaming", done through call which control the market.


Calls for legalisation


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


The Justice RM Lodha Commission was set up to suggest 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 sports betting scandal emerged.


Two franchises have been banned for 2 years after some players and team officials were condemned of fixing parts of the match at the wish of bookmakers.
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The panel also argues that legalised sports betting will generate tax incomes for the exchequer that might total up to $2bn a year.


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


"I don't mind paying some money out my profits, as long as I can gamble publicly," says our cricket bettor.


It would also open a big service chance for certified bookmakers and international online wagering companies to set up operations in India.


And it would assist limit match fixing in cricket and other sports betting, argue lots of, by helping make deals associated with gambling more transparent.


"If you work along with sports betting companies, you will have a very effective technique of marking out match fixing," states George Oborne, who runs a mock wagering website, India Bet.
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But many also believe, that the taxes imposed on the gambler and the bookmaker will have to be reasonable to make it attractive enough for them to gamble lawfully.


However, there are limitations.


"Definitely there will be unlawful sports betting because (some) individuals would not desire to leave an audit trail by going into the white market," states Mr Oborne.
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He adds that people who use unaccounted money to put big bets will never gamble lawfully.


Approval concern


For sports betting gambling to be legalised, parliamentary approval will be needed to develop a brand-new law, and politically this will be a tough idea to sell.


"Despite the fact that lots of people are associated with some sort of gaming - it's still a questionable issue for numerous," says our unnamed punter.


And considered that India has a federal structural - each state will have to likewise pass a different law to legalise sports betting gambling in their area.


"The procedure is so long and difficult that it will take years," states Mr Ranina."That's why, we are cynical about this coming true anytime quickly."


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