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Howzat? The clamour to legalise sports betting 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 go to win against Australia.
In his two-bedroom house located in central Mumbai, a middle-aged man is watching the game, nervously. He's resting on the edge of his grey colour couch with his mobile phone glued to his right-hand man.
He has actually made more than 10 employ the last 30 minutes - not to discuss the match however to keep revising his bet.
Five minutes previously his cash was on Australia, however now as the Indian batsman prepares to deal with the last over he's changed his mind.
"I believe India is winning, make the modification," he informs his bookmaker on the phone.
And a couple of minutes later his prediction becomes a reality, as India wins the match in a nail-biting surface.
"I have actually made $200 today," he states with a childish 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.
Other than horse racing, sports betting wagering of any kind is not enabled in India. Despite that, prohibited wagering distributes grow in the country.
'Black cash'
According to the Doha-based International Centre for sports betting Security, India's unlawful sports betting wagering market deserves some $150bn a year. And much of that gambling cash is directed towards cricket.
Without any legal opportunity, punters put their phones by making calls to bookies. Gamblers can bank on anything associated to the cricket match, from who is winning to the greatest private run scorer.
Most of these deals include so-called "black money", which is cash not declared to the taxman.
The 1867 Public Gambling Act bars any sort of sports betting in India, however unlike in the US which has a law prohibiting web gaming, there is absolutely nothing comparable here.
And overseas sports betting companies are using this loophole to draw Indians. Although there are no online wagering operators based out of India, a lot individuals have signed up accounts with overseas firms.
"Legally you can get away [with this], as the law is ambiguous for online gambling," says Mumbai- based legal representative HP Ranina.
But in spite of this, it is "offline gambling", done through phone calls which control the market.
Require legalisation
The clamour to legalise sports betting in cricket has actually grown after a panel selected by India's Supreme Court proposed the concept, saying it would help clamp down on corruption in the country's favourite sport.
The Justice RM Lodha Commission was set up to suggest 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 been prohibited for two years after some players and team officials were discovered guilty of fixing parts of the match at the wish of bookmakers.
The panel also argues that legalised sports betting will bring in tax profits for the exchequer that might total up to $2bn a year.
Even gamblers feel that legalising sports betting wagering is a move in the best direction.
"I do not mind paying some cash out my revenues, as long as I can gamble openly," states our cricket gambler.
It would also open a substantial company opportunity for certified bookies and international online sports betting companies to establish operations in India.
And it would help limit match fixing in cricket and other sports betting, argue lots of, by helping make deals included in 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 wagering site, India Bet.
But numerous likewise think, that the taxes levied on the bettor and the bookie will have to be reasonable to make it appealing enough for them to bet legally.
However, there are constraints.
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"Definitely there will be prohibited sports betting since (some) people wouldn't want to leave an audit path by getting in the white market," says Mr Oborne.
He includes that people who use unaccounted money to put big bets will never ever gamble lawfully.
Approval question
For sports betting to be legalised, parliamentary approval will be needed to produce a new law, and politically this will be a tough concept to sell.
"Despite the fact that many individuals are associated with some sort of sports betting - it's still a questionable problem for lots of," states our unnamed punter.
And offered that India has a federal structural - each state will have to likewise pass a separate law to legalise sports betting in their territory.
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"The process is so long and difficult that it will take years," says Mr Ranina."That's why, we are cynical about this coming true anytime quickly."
Yet with the concept having been backed by a main panel for the very first time, a minimum of an argument has sparked around a topic - which until now was thought about a taboo.
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For Sports Gambling to Be Legalised
mallorycousin edited this page 2025-01-01 04:22:40 +08:00