1 For Sports Gambling to Be Legalised

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Howzat? The to legalise sports betting in India

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bit.ly
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 home located in main Mumbai, a middle-aged male is watching the game, nervously. He's resting on the edge of his grey colour sofa with his smart phone glued to his ideal hand.

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

Five minutes previously his money was on Australia, today as the Indian batsman gets prepared 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 few minutes later his forecast comes to life, as India wins the match in a nail-biting surface.

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

Aside from horse racing, sports betting of any kind is not allowed India. Despite that, illegal wagering syndicates thrive in the nation.

'Black cash'

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

Without any legal opportunity, punters place bets using their phones by making calls to bookies. Gamblers can wager on anything associated to the cricket match, from who is winning to the highest individual run scorer.

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

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

And overseas wagering companies are utilizing this loophole to lure Indians. Although 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 uncertain for online gaming," states Mumbai- based legal representative HP Ranina.

But in spite of this, it is "offline gambling", done through phone calls which dominate the marketplace.

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 regulatory body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal emerged.
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Two franchises have been prohibited for two years after some gamers and group officials were condemned of repairing parts of the match at the wish of bookies.

The panel also argues that legalised wagering will bring in tax profits for the exchequer that could total up to $2bn a year.

Even gamblers feel that legalising sports betting is a move in the ideal instructions.
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"I do not mind paying some money out my revenues, as long as I can bet openly," states our cricket bettor.

It would also open a huge organization opportunity for licensed bookmakers and international online wagering companies to set up operations in India.

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

"If you work along with sports betting companies, you will have a very efficient method of marking out match repairing," states George Oborne, who runs a mock sports betting website, India Bet.

But numerous also think, that the taxes imposed on the gambler and the bookmaker will have to be reasonable to make it attractive enough for them to bet lawfully.

However, there are limitations.

"Definitely there will be illegal wagering since (some) people would not want to leave an audit trail by entering the white market," says Mr Oborne.

He adds that people who utilize unaccounted cash to position big bets will never gamble legally.

Approval question

For sports betting gambling to be legalised, parliamentary approval will be needed to create a brand-new law, and politically this will be a difficult concept to sell.

"Although many individuals are associated with some sort of gambling - it's still a questionable concern for lots of," states our unnamed punter.

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

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

Yet with the idea having actually been endorsed by an official panel for the very first time, a minimum of a dispute has sparked around a topic - which previously was thought about a taboo.