commit 4a91841f76f8c908b3db8f7f8cb2f77bebd57f83 Author: jacksonable337 Date: Tue Dec 31 13:06:30 2024 +0300 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..6b3bce5 --- /dev/null +++ b/For-Sports-Gambling-to-Be-Legalised.md @@ -0,0 +1,47 @@ +
Howzat? The clamour to legalise [sports betting](https://blkbook.blactive.com/read-blog/2317_how-much-are-americans-investing-in-sports-betting.html) wagering in India
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5 February 2016
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By Sameer Hashmi
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Mumbai Business press reporter
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It is the last over of the cricket match, with India needing 17 go to win versus Australia.
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In his two-bedroom house located in central Mumbai, a middle-aged male is watching the game, nervously. He's sitting on the edge of his grey colour couch with his [smart phone](https://usvs.ms/read-blog/865_how-fantasy-betting-app-development-companies-and-sports-developers.html) glued to his best hand.
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He has made more than 10 contact the last 30 minutes - not to discuss the match however to keep [revising](https://ai.tienda/read-blog/7279_exploring-the-sports-betting-industry-putting-ideas-into-practice.html) his bet.
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Five minutes earlier his cash was on Australia, and now as the Indian batsman prepares yourself to face the last over he's changed his mind.
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"I believe India is winning, make the modification," he informs his bookmaker on the phone.
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And a couple of minutes later his prediction becomes a reality, as [India wins](https://blablasell.com/read-blog/11994_sports-minister-tracey-crouch-resigns-over-039-delay-039-to-betting-crackdown.html) the match in a nail-biting finish.
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"I have actually made $200 today," he says with a childish glee.
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For more than three decades he's been wagering on cricket matches. We can't expose his name as what he's doing is in India.
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Aside from horse racing, [sports betting](https://clik.social/read-blog/19237_things-you-need-to-know-about-rafting-adventures.html) wagering of any kind is not enabled in India. Despite that, prohibited [sports betting](http://titotit.com/xe/?document_srl=719496) distributes flourish in the country.
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'Black cash'
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According to the Doha-based International Centre for [sports betting](https://flowsocial.xyz/read-blog/572_why-every-cricket-fan-need-to-try-the-all-cricket-id-gaming-platform.html) Security, India's unlawful [sports betting](https://www.eruptz.com/read-blog/18019_sport-betting-industry-wants-to-protect-itself.html) market deserves some $150bn a year. And much of that [sports betting](https://www.facetwig.com/read-blog/96065_things-you-need-to-understand-about-rafting-adventures.html) money is directed towards cricket.
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Without any legal opportunity, punters put bets using their phones by making calls to bookies. Gamblers can bet on anything related to the cricket match, from who is winning to the highest specific run scorer.
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Most of these transactions include so-called "black cash", which is cash not declared to the taxman.
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The 1867 [Public Gambling](https://snowboardwiki.net/index.php?title=User:NellieW7426) Act bars any type of gaming in India, but unlike in the US which has a law forbiding web [sports betting](https://online-learning-initiative.org/wiki/index.php/User:KirbyBenjamin), there is absolutely nothing comparable here.
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And overseas [sports betting](https://bbarlock.com/index.php/User:Yanira7084) business are utilizing this loophole to tempt Indians. Despite the fact that there are no online wagering operators based out of India, a lot individuals have signed up accounts with overseas firms.
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"Legally you can escape [with this], as the law is uncertain for online [sports betting](https://africasfaces.com/read-blog/5879_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html)," says Mumbai- based lawyer HP Ranina.
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But in spite of this, it is "offline gaming", done through call which dominate the market.
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Require legalisation
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The clamour to legalise wagering in cricket has grown after a panel designated by [India's Supreme](http://wiki.die-karte-bitte.de/index.php/Benutzer_Diskussion:StanleyBaughan) Court proposed the concept, stating it would assist secure down on corruption in the nation's favourite sport.
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The Justice RM Lodha Commission was set up to recommend modifications 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://naijamatta.com/read-blog/34822_how-to-withdraw-from-bet9ja-8-step-guide-to-money-in-your-wins.html) scandal came to light.
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Two franchises have actually been prohibited for two years after some players and group authorities 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](https://zekond.com/read-blog/110704_uk-betting-firms-gamble-on-united-states-after-sports-wager-ruling.html) will bring in tax revenues for the exchequer that might amount to $2bn a year.
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Even [bettors feel](https://kenyansocial.com/read-blog/1326_sweepstakes-casino-controversy-and-celebrities-039-all-important-role.html) that legalising [sports betting](https://truthbook.social/read-blog/8348_how-are-betting-odds-calculated.html) wagering is a move in the right direction.
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"I don't mind paying some cash out my earnings, as long as I can gamble openly," states our cricket bettor.
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It would also open a substantial business opportunity for certified bookmakers and global online [sports betting](https://web-chat.cloud/question2answer/index.php?qa=58132&qa_1=sports-minister-tracey-crouch-resigns-delay-betting-crackdown) business to set up operations in India.
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And it would assist restrict match repairing in cricket and other [sports betting](https://aceme.ink/read-blog/1646_score-big-wins-how-sports-betting-software-drives-growth-and-engagement.html), argue many, by helping make deals included in [sports betting](https://alumni.myra.ac.in/read-blog/148763_uk-betting-firms-gamble-on-us-after-sports-wager-ruling.html) more transparent.
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"If you work together with wagering business, you will have an extremely reliable method of marking out match fixing," states George Oborne, who runs a mock [sports betting](https://globalunitedspirits.com/read-blog/3450_how-to-play-bet9ja-online.html) website, India Bet.
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But lots of also think, that the taxes levied on the bettor and the bookmaker will have to be reasonable to make it attractive enough for them to bet legally.
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However, there are restrictions.
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"Definitely there will be prohibited wagering due to the fact that (some) individuals wouldn't desire to leave an audit trail by going into the white market," says Mr Oborne.
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He includes that individuals who use unaccounted cash to put huge bets will never gamble lawfully.
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Approval question
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For [sports betting](https://naijamatta.com/read-blog/34691_warner-bros-discovery-sets-stage-for-potential-cable-deal-by.html) to be legalised, parliamentary approval will be needed to produce a new law, and politically this will be a hard concept to sell.
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"Despite the fact that lots of people are involved in some sort of [sports betting](https://social.engagepure.com/read-blog/804_sports-minister-tracey-crouch-resigns-over-039-hold-up-039-to-betting-crackdown.html) - it's still a controversial issue for many," states our unnamed punter.
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And considered that India has a federal structural - each state will have to also pass a separate law to legalise [sports betting](https://miderde.de/index.php?title=Benutzer:AZGEmerson) gambling in their area.
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"The procedure is so long and challenging that it will take years," states Mr Ranina."That's why, we are cynical about this coming true anytime soon."
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Yet with the idea having actually been endorsed by an official panel for the very first time, at least a dispute has fired up around a topic - which previously was considered a taboo.
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