commit 90631583be5f15f1dafc80dc3c9ab508bbcff586 Author: aracelisfil349 Date: Wed Dec 18 23:41:21 2024 +0000 Add For Sports Gambling to Be Legalised diff --git a/For-Sports-Gambling-to-Be-Legalised.md b/For-Sports-Gambling-to-Be-Legalised.md new file mode 100644 index 0000000..9fc4f94 --- /dev/null +++ b/For-Sports-Gambling-to-Be-Legalised.md @@ -0,0 +1,47 @@ +[bit.ly](https://bit.ly/Bet9jaPromotionCodeYOHAIG)
Howzat? The clamour to legalise [sports betting](https://olympiquelyonnaisfansclub.com/read-blog/14841_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) wagering in India
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5 February 2016
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By Sameer Hashmi
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Mumbai Business reporter
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It is the last over of the cricket match, with India requiring 17 go to win versus Australia.
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In his two-bedroom home situated in central Mumbai, a middle-aged guy is watching the video game, nervously. He's resting on the edge of his grey colour couch with his [cellphone glued](https://wiki.monnaie-libre.fr/wiki/Utilisateur:BrandenFrawley) to his right hand.
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He has actually made more than 10 employ the last thirty minutes - not to discuss the match but to keep revising his bet.
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Five minutes earlier his cash was on Australia, now as the Indian batsman [prepares](https://mysazle.com/read-blog/6481_online-betting-firms-gamble-on-soccer-mad-nigeria.html) yourself to face the last over he's changed his mind.
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"I believe India is winning, make the change," he informs his bookie on the phone.
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And a few minutes later his forecast comes to life, as India wins the match in a nail-biting surface.
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"I have actually made $200 today," he says with a childish glee.
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For more than 3 decades he's been banking on cricket matches. We can't reveal his name as what he's doing is illegal in India.
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Besides horse racing, [sports betting](https://wolvesbaneuo.com/wiki/index.php/User:ModestaFreytag) [wagering](https://pumasunamfansclub.com/read-blog/7228_tennessee-sports-betting-top-4-legal-betting-sites-in-2024.html) of any kind is not enabled in India. Despite that, unlawful [sports betting](http://www.asystechnik.com/index.php/Benutzer:KrisV1436617) syndicates thrive in the country.
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'Black money'
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According to the Doha-based International Centre for [sports betting](https://www.hb9lc.org/wiki/index.php/User:ForrestCarmack9) Security, India's illegal [sports betting](https://afrocinema.org/read-blog/41791_how-to-play-bet9ja-online.html) market is worth some $150bn a year. And much of that gambling cash is directed towards cricket.
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Without any legal opportunity, punters put bets using their phones by making calls to bookmakers. Gamblers can bet on anything associated to the cricket match, from who is winning to the greatest private run scorer.
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The majority of these transactions involve so-called "black cash", which is money not declared to the taxman.
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The 1867 Public Gambling Act bars any sort of [sports betting](https://wiki.vst.hs-furtwangen.de/wiki/User:Nellie97X443) in India, however unlike in the US which has a law forbiding internet [sports betting](https://www.sportfansunite.com/read-blog/233_the-ins-and-outs-of-betting-on-the-nfl-draft.html), there is nothing similar here.
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And offshore wagering business are using this loophole to draw Indians. Although there are no online wagering operators based out of India, a lot [individuals](https://www.sportfansunite.com/read-blog/233_the-ins-and-outs-of-betting-on-the-nfl-draft.html) have actually signed up [accounts](https://innovator24.com/read-blog/22498_tennessee-sports-betting-top-4-legal-betting-sites-in-2024.html) with overseas firms.
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"Legally you can get away [with this], as the law is unclear for online [sports betting](http://ringturbine.com:80/index.php/User:SanfordCrotty4)," states Mumbai- based attorney HP Ranina.
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But regardless of this, it is "offline gaming", done through call which dominate the marketplace.
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Calls for legalisation
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The clamour to legalise wagering in cricket has actually grown after a panel selected by India's Supreme Court proposed the idea, saying it would help secure down on corruption in the nation's favourite sport.
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The [Justice RM](https://namesdev.com/read-blog/15193_for-sports-gambling-to-be-legalised.html) 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 [sports betting](https://astonvillafansclub.com/read-blog/14667_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) scandal came to light.
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Two franchises have actually been banned for 2 years after some gamers and group authorities were found guilty of repairing parts of the match at the behest of bookmakers.
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The panel also argues that legalised wagering will bring in tax revenues for the exchequer that could total up to $2bn a year.
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Even gamblers feel that legalising [sports betting](https://moonifie.com/read-blog/1435_compare-amp-review-oddsjet-de.html) is a relocation in the best instructions.
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"I don't mind paying some cash out my revenues, as long as I can bet publicly," states our cricket bettor.
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It would also open a huge business chance for certified bookmakers and international online wagering business to establish operations in India.
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And it would help limit match repairing in cricket and other [sports betting](https://customerscomm.com/read-blog/3730_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html), argue numerous, by [assisting](http://video.firstkick.live/read-blog/4623_things-you-need-to-understand-about-rafting-adventures.html) make transactions associated with gambling more [transparent](https://usa.life/read-blog/103328_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html).
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"If you work along with wagering companies, you will have an extremely efficient method of stamping out match fixing," says George Oborne, who runs a mock [sports betting](https://voggisper.com/read-blog/1217_for-sports-gambling-to-be-legalised.html) site, India Bet.
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But lots of also believe, that the taxes imposed on the gambler and the bookmaker will need to be reasonable to make it attractive enough for them to gamble legally.
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However, there are limitations.
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"Definitely there will be prohibited wagering because (some) people wouldn't wish to leave an audit path by entering the white market," states Mr Oborne.
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He adds that people who utilize unaccounted cash to put big bets will never ever gamble lawfully.
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Approval question
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For [sports betting](https://pumasunamfansclub.com/read-blog/7223_how-fantasy-betting-app-development-companies-and-sports-developers.html) to be legalised, parliamentary approval will be required to produce a brand-new law, and politically this will be a tough idea to sell.
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"Despite the fact that lots of people are associated with some sort of gaming - it's still a controversial issue for lots of," says our unnamed punter.
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And given that India has a federal structural - each state will have to also pass a separate law to gambling in their territory.
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"The procedure is so long and challenging that it will take years," states Mr Ranina."That's why, we are negative about this ending up being a reality anytime soon."
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Yet with the concept having been endorsed by an official panel for the very first time, at least a debate has ignited around a topic - which previously was thought about a taboo.
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