Regardless of where you are in the world, there’s likely to be a problem with how businesses are taxed. By that, we refer to the argument that some companies doing business in a particular country can escape the tax burden placed on others by way of the fact they are ‘headquartered’ in another. Naturally, these cases are most likely to involve tech companies, and plenty of newspaper articles have appeared detailing the tax payments of Big Tech behemoths like Amazon, Google and Facebook.
But one of the most interesting areas for this idea of offshoring is played out among internet gambling companies. And in Australia, a blazing row has broken out between those online entities and the incumbent ‘onshore’ companies over how they are taxed and how they contribute to the Australian economy. While Australia has been in the headlines for its fight with Facebook over tax payments, the issue over gambling companies is arguably the more interesting case, as it highlights the complexity of modern digital businesses and how governments have been slow to react to changes in the industry.
Big betting brands battle on Australian television
So, what exactly has happened in Australia? In brief, we have seen a television advert campaign by an entity called the Aussie Fair Play Coalition. This coalition, which represents established Australian bookmakers like Tabcorp and AHA, released a series of adverts that complained about international online betting companies taking money out of the Australian economy. The adverts were deliberatelyprovocative, showing ships containers with brands like Bet365, Neds, and Ladbrokes, and asking where is the money going?
While most citizens want businesses to pay their fair share of taxes, the argument is not as clear-cut as you might think. The body representing the online bookmakers – Responsible Wagering Australia – shot back, accusing Tabcorp of having “wagering monopolies” in some jurisdictions, including on the racetracks. The broader argument is that online bookmakers like Bet365 bring technology and innovation to the market, as well as a sense of nimbleness. Moreover, they argue that having more, let’s say, flexible tax arrangements give a better deal for the consumer, e.g., the person using Bet365 or another platform can, in theory, get access to better offers and (at times) betting odds.
Argument of better deals for consumers
As we mentioned, this is not just about gambling, per se. Seen in its wider context, it can be applied to almost any type of onshore business that is faced with a digital competitor. A bookseller might complain that the local taxes they pay are unfair compared to the percentage paid by Amazon, but the latter will argue that they are able to deliver a better service – cheaper books, wider selection – to the consumer. This argument, in some form or another, has been going on since the roll-out of the worldwide web in the 1990s.
The question, though, is where does the balance lie? It is all too simplistic to say that onshore and offshore entities should be taxed equally. Moreover, in the case of the Australian bookmakers, there are more complications. For instance, there is the financial support provided by onshore businesses like Tabcorp to the Australian racing. That ‘burden’, Tabcorp says, should be shared. But critics claim that those payments give Tabcorp access, such as on-track presence for big racing events, that is not possible for the online operators.
In the end, everyone will want a fair settlement. But it’s not always obvious where to draw the boundaries. Governments around the world are being continually faced with similar dilemmas. As the digital economy grows, finding an answer is going to be much more crucial.
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Indian boxer Nikhat Zareen gifts PM Modi boxing gloves
Indian Commonwealth Games contingent expressed their delight at being honored by Prime Minister Narendra Modi for their excellent performance at Birmingham 2022.
PM Modi felicitated the Indian contingent for the Commonwealth Games (CWG) 2022 in New Delhi on Saturday. The felicitation was attended by both athletes and their coaches. Union Minister for Youth Affairs & Sports Anurag Singh Thakur and Minister of State for Youth Affairs and Sports Nisith Pramanik were among those present. Prime Minister congratulated the players and coaches for their stupendous performance at the Commonwealth Games 2022 held in Birmingham, where India bagged 22 Gold, 16 Silver, and 23 Bronze medals in various disciplines.
During the event, sprinter Hima Das gave the traditional Assamese gamocha, and Indian boxer Nikhat Zareen gifted PM Modi her boxing gloves.
“Honoured to gift the boxing gloves signed by all the pugilists to our honorable Prime Minister @narendramodi sir. Thank you for this amazing opportunity. A great day spent with my fellow athletes who have made the country proud,” Nikhat tweeted.
Hima Das took to her Twitter handle and wrote, “Elated to receive blessings from our honorable Prime Minister – Shri @narendramodi Ji, by virtue of Commonwealth Games 2022. Fortunate to have presented him with our traditional gamcha, wrapped with immense gratitude from all of Assam.”
Commonwealth Games 2022 champion weightlifter Mirabai Chanu, who won the gold medal in the Women’s 49kg final, thanked the PM for his words of motivation.
“Honoured to meet & interact with our Honourable Prime Minister @narendramodi Sir. Thank you so much sir for all your support & encouragement. Jai Hind,” Chanu said.
“Thank You Sir for sparing your valuable time and inviting us over to your residence. It was like always a delight to speak with you,” wrote shuttler Chirag Shetty.
CWG 2022 gold medallist Lakshya Sen also expressed his appreciation for being honored by the PM.
“What a great day for all the Athletes #gratitude. Thank you so much Sir for appreciating our hard work and for your words of encouragement. We are all very grateful for your support. Will continue to make our nation proud. Jai Hind!” Indian shuttler Sen tweeted.
“Meeting Hon. PM @narendramodi once again, interacting with him and seeking a blessing was motivating and inspiring as always. His keen interest in our performances and detailed conversations are very gratifying!” said Bhavina Patel, who won the gold medal in Para table tennis at the Birmingham 2022.
Addressing the Indian CWG contingent on Saturday, PM said that the golden period of Indian sports has just begun and hailed the fine show of the athletes.
India finished 4th in the medal tally winning a total of 61 medals at the CWG 2022, including 22 gold, 16 Silver, and 23 Bronze medals.
Four games win hearts, disappointment in weightlifting and squash
This time, a total of 16 medals, including seven gold were lost due to the non-availability of shooting events in the CWG. It was largely compensated by wrestling, badminton, table tennis, Para Powerlifting, lawn ball, cricket, hockey, athletics, and judo. India’s number of gold medals increased in the first four games compared to the last CWG held at Gold Coast. India won gold and a bar of silver in the lawn bowl in which not a single medal was won before. In hockey, both the teams returned empty-handed last time but this time the men’s team won a silver, and the women’s team won a medal after 16 years. In cricket, the Indian women’s team could not win gold after defeating Australia as they lost the last eight wickets for 34 runs but beating England in the SF was an achievement. Judo was not their last time, India won three medals including two gold in Judo. The personal best performance of many players in athletics proved that India’s preparations are on the right track because of the Paris Olympics.
Despite all this, weightlifters and squash players disappointed. The boxers equalled last time’s three gold medals but they got only one silver means two silvers less than last time. Mirabai Chanu, Jeremy Lalrinnunga, and Achinta Sheuli, did win gold medals in weightlifting, and they broke snatch games record but the rest of the weightlifters could neither break the national record nor give personal best. Most of these weightlifters could not even repeat their performance in the National Championship. Poonam Yadav, who won gold last time in 69 kg, failed in all three clean and jerk attempts, it is a matter of mystery. In TT, Achanta Sharath Kamal proved that age is just a number. The player was once weak in the backhand, but he made it his strength, winning a total of seven golds in 16 years. His biggest quality is to play his strategy according to the opposition player.
In athletics, however, the situation was quite the opposite. In a ten km walk, Priyanka Goswami and Sandeep won medals in their respective categories with PB performances. In the 3000m steeplechase, Avinash Sawale clocked a PB performance to outdo a Kenyan in medals and very near to the other Kenyan who won the gold medal by a fraction of a second. Gold medalist Eldhose Paul and silver-winner Abdulla Aboobacker won the triple jump gold and silver & broke the 17-meter barrier. For all the athletes including Murali Sreeshankar in the long jump, the World Championships held recently formed the base of their medals. Murli, who was performing lighter than the qualifying competition in the final, corrected his mistake and got the silver, but Seema Poonia and Navjeet Dhillon, who won silver and bronze at Gold Coast were almost four to five meters lesser this time. Both have shown that their preparations are going in the opposite direction. Two silvers in squash narrowed us down to two bronzesthis time.
In wrestling, only Canadian and Nigerian wrestlers were challenged as usual and Indian wrestlers managed to bag all the medals like the last time, which includes six golds i.e., one more gold than last time. Vinesh Phogat continued to create history in women’s wrestling by winning her third gold while emerging Naveen proved to be a new sensation in 74kg. Some players gave a befitting reply to their federations with their excellent performance. Judoka Tulika Maan was not considered for selection in the judo team. Even the federation said that there is no hope of a medal in the highest weight category of women, but Tulika won the silver.
Similarly, Tejaswin Shankar had to take refuge in the court to participate in these games. His name was rejected saying that he had not participated in the National Championship, arguing that he was participating in a competition in the US at the same time. Eventually, this player made 2.22 m in the high jump. He won the bronze medal. In lawn ball, women from other sports showed that if there is scope, there is nothing wrong with changing the game. When Rajyavardhan Singh Rathore won the Olympic medal, he emphasized this the most because he too was once among the cricket potential players of Madhya Pradesh.
What Sports Are The Most Frequently Bet On?
Betting on sports is a vast industry making up over 30% of the entire gambling industry. If we take a look at what this might look like in numbers, around 500 billion dollars is used for gambling around the world each year. This means that approximately 150 billion dollars are spent on sports betting annually, which shows just how big a market it is.You are probably wondering what sports are most frequently bet on throughout the year. Here is a list of some of the most popular sports that people tend to bet on the most. We will take a look at whether it is because people just enjoy watching and betting on their favorite sport or whether a specific sport gives you an advantage while betting.
In the USA, American Football is without a doubt the number one sport that people both love to play and watch. The NFL has some of the most diehard fans of any sport, and people follow the game like a religion. With huge tournaments such as the super bowl, which attract attention from all around the world, it is no surprise that American Football is one of the most popular sports when it comes to betting.Another reason that people love to bet on American Football is the variety of leagues that are available to bet on. People can bet on college football all the way up to the NFL, which means there isn’t a shortage of teams to rally behind and place bets on. They can also choose to bet on live games or make predictions before they start. More options mean more opportunities to place all kinds of bets on different teams, which adds to the popularity of this sport in the gambling scene.
Soccer is the biggest sport in the world with the largest number of people playing it globally. It is then no surprise that it is also a huge sport when it comes to placing bets. With the advancement of technology, the types of bets that people can place on soccer matches have progressed over the years. The most noticeable type of bet that has caused sports betting within soccer to skyrocket is the ability to cash out early. This type of betting has made watching soccer a lot more exciting as people have to be paying extra attention to the screen to decide whether they want to get out of the bet or stay in for the maximum gain.In the UK alone, it is estimated that a mind-blowing 1 billion pounds are spent on soccer bets each year. Soccer as a sport has also only gone up in popularity over the last few years with the American soccer league, MLS, gaining a lot of attention. Although it is a long way from being as popular as American football, soccer in the US appears to be gaining a lot more traction and fans from around the world. For this reason, it is easy to see that soccer is going nowhere anytime soon, and the interest in betting on the sport will likely only increase.
For those that are unaware, horse racing was the number one sport for betting for the longest time. This may not still be the case however, horse racing still plays a massive part in the sports gambling world, with an estimated 100 billion dollars being spent betting on the sport each year. In addition to this, horse racing is the only sport where you can actually bet on it at all times of the day.Horse racing is a huge day out for many people who save part of their earnings to spend betting on horses in the hopes of winning big. This may come as a big surprise, but Japan actually has the biggest horse racing market, with the United Kingdom following behind and then Australia behind them.
The number three spot when it comes to sports most frequently bet on is tennis. You might not have expected this but there are some reasons why this is the case. The first being that placing bets on tennis is considered relatively safe due to the odds being fairly low. For example, if one of the top players, such as Rafael Nadal, is scheduled to play against a player who is not considered very strong, it is a relatively safe bet to place on Nadal winning.
HUMPY, SACHDEV, KULKARNI GIVE INDIA LEAD IN WOMEN’S SECTION AT 44TH CHESS OLYMPIAD
Koneru Humpy, Tania Sachdev and Bhakti Kulkarni scored victories as India A pulled off a 3.5-0.5 win against Kazakhstan to emerge as sole leader in the women’s section after ninth round of 44th Chess Olympiad in Mamallapuram, Tamil Nadu on Monday.
Top-seed India A were given a winning start in the penultimate round by Humpy when she outperformed Zhansaya Abdumalik. R Vaishali, on the other hand, had to share points against Bibisara Assaubayeva before Sachdev and Kulkarni tilted the result of the match in India’s favour after securing wins over Xeniya Balabayeva and Guliskhan Nakhbayeva in their respective games.
With just one more round remaining, India A have grabbed the leading spot with 17 points while Poland, Georgia, Azerbaijan and Ukraine are jointly holding the second position with 16 points each.
India B and India C also notched up identical 3-1 wins in their respective Round 9 matches. While India B defeated the Netherlands with Padmini Rout, Mary Ann Gomes and Divya Deshmukh scoring victories, India C thrashed Sweden. PV Nandhidhaa and Pratyusha Bodda scored victories for India C whereas Eesha Karavade and M Varshini Sahiti settled for draws.
THE GREAT INDIA RUN ENTERS PUNJAB, RUNNERS REACH DINANAGAR
The Kashmir leg of the Great India Run culminated today with 11 runners entering Punjab on Tuesday evening. The runners have started their run from Mansar Lake and reached Dinanagar covering a distance of 89kms. The runners reached Dinanagar via Samba, Keediyan Gandiyal Bridge and Aman Bhalla College.
After a night halt, they will start their journey tomorrow to DAV College, Hoshiarpur via Mukerian. The Kashmir leg saw the runners complete a total distance of 255kms running through iconic locations including Bahihal, Patnitop and Mansar Lake.
The relay-run will cover 829 kilometers across 4 states from Srinagar to New Delhi from August 5 to August 15. The run is being organize to celebrate the 75th Azadi Ka Amrit Mahotsav and the ‘Har Ghar Tiranga’ campaign. An initiative of iTV & iTV Foundation, the run builds on the success of the first chapter of the Great India Run held in 2016.
The Flag-off in Srinagar was done by Shri Manoj Sinha, L-G J&K and Shri Kartik Sharma, Rajya Sabha MP from Lal Chowk, Srinagar. In support of the ‘Har Ghar Tiranga’ campaign, the L-G handed the lead runner a national flag after unfurling it at the venue. The first leg of the run is being led by Arun Bhardwaj, an Ultra-marathon runner.
The run venue was decorated with 75 Indian tricolours to mark 75 years of Independence. The route covers Banihal, Patnitop, Mansar Lake, Dinanagar, Hoshiarpur, Rupnagar, Ambala Cantt. finally culminating in Delhi on August 15. Full details of the route are available at the twitter handle @TGIR2022. Daily coverage of the run will also be visible on national TV and the national press. The culmination ceremony will be held in New Delhi on August 15th with Union Minister Jitendra Singh as Chief Guest.
India announce squad for Asia Cup 2022; Bumrah ruled out
The All-India Senior Selection Committee on Monday announced the 14-members squad for the upcoming Asia Cup. The much-anticipated Asia Cup cricket tournament will take place from August 27 this year. The 15th edition of the tournament will be played in the UAE between six teams (main event). Defending champions India are also the most successful team, having won the trophy seven times. While the last edition of the tournament was held in an ODI format, this edition will feature the T20 format.
The six teams are divided into two groups with India, Pakistan and a qualifying team in Group A; and Sri Lanka, Bangladesh and Afghanistan forming Group B. Each team plays the other once in the group stage with the top two teams from each group advancing to the Super 4 round. The top 2 teams from Super 4 will qualify for the final.
India’s squad for Asia Cup: Rohit Sharma (Captain), KL Rahul (vice-captain), Virat Kohli, Suryakumar Yadav, Deepak Hooda, Rishabh Pant (wicket-keeper), Dinesh Karthik (wicket-keeper), Hardik Pandya, Ravindra Jadeja, R. Ashwin, Yuzvendra Chahal, Ravi Bishnoi, Bhuvneshwar Kumar, Arshdeep Singh and Avesh Khan.
The star pacer of India Jasprit Bumrah and Harshal Patel were not available for selection owing to injuries. They are currently undergoing rehab at the NCA in Bengaluru.
Three players – Shreyas Iyer, Axar Patel and Deepak Chahar have been named as standbys.
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