1 For Sports Gambling to Be Legalised

Clifton Torreggiani edited this page 2024-12-24 19:41:22 +02:00

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 press reporter

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

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

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

Five minutes previously his money was on Australia, and now as the Indian batsman prepares to face the last over he's changed his mind.

"I think India is winning, make the change," he tells his bookie on the phone.

And a couple of minutes later his prediction comes true, as India wins the match in a nail-biting finish.

"I have actually made $200 today," he says with a childish glee.

For more than three decades he's been banking on cricket matches. We can't reveal his name as what he's doing is prohibited in India.

Other than horse racing, sports betting of any kind is not allowed India. Despite that, illegal wagering distributes flourish in the nation.
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'Black cash'

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

Without any 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 transactions include so-called "black cash", which is cash 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 similar here.

And overseas sports betting companies are using this loophole to entice Indians. Although there are no online sports betting operators based out of India, a lot individuals have actually signed up accounts with overseas firms.

"Legally you can get away [with this], as the law is unclear for online gambling," states Mumbai- based attorney HP Ranina.

But despite this, it is "offline sports betting", done through call which control the market.

Calls for legalisation

The clamour to legalise wagering in cricket has actually grown after a panel designated by India's Supreme Court proposed the idea, stating it would help clamp down on corruption in the country's preferred sport.

The Justice RM Lodha Commission was set up to recommend changes in the functioning 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 been prohibited for 2 years after some players and team authorities were condemned of repairing parts of the match at the request of bookmakers.

The panel likewise argues that legalised wagering will bring in tax incomes for the exchequer that could amount to $2bn a year.

Even bettors feel that legalising sports betting is a relocation in the right instructions.

"I don't mind paying some cash out my earnings, as long as I can gamble publicly," states our cricket bettor.

It would also open a big service opportunity for certified bookmakers and worldwide online wagering business to set up operations in India.

And it would help limit match fixing in cricket and other sports betting, argue many, by assisting make transactions included in sports betting more transparent.
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"If you work together with sports betting companies, you will have an extremely effective method of marking out match repairing," states George Oborne, who runs a mock sports betting site, India Bet.

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

However, there are .
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"Definitely there will be illegal sports betting because (some) people would not wish to leave an audit path by going into the white market," states Mr Oborne.

He adds that individuals who utilize unaccounted money to place huge bets will never gamble legally.

Approval concern

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

"Even however many individuals are associated with some sort of gaming - it's still a controversial problem for many," states our unnamed punter.

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

"The procedure is so long and challenging that it will take years," says Mr Ranina."That's why, we are cynical about this ending up being a reality anytime soon."

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