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Howzat? The clamour to legalise sports betting wagering in India

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 runs to win versus Australia.

In his two-bedroom house located in central Mumbai, a middle-aged male is viewing the game, nervously. He's sitting on the edge of his grey colour sofa with his mobile phone glued to his right-hand man.

He has actually made more than 10 contact the last thirty minutes - not to go over the match however to keep revising his bet.

Five minutes previously his money was on Australia, today as the Indian batsman gets ready to face the last over he's changed his mind.

"I believe India is winning, make the change," he tells his bookmaker on the phone.

And a few minutes later on his prediction comes to life, as India wins the match in a nail-biting surface.

"I have made $200 today," he says with a childlike glee.
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For more than three decades he's been sports betting on cricket matches. We can't reveal his name as what he's doing is prohibited in India.

Besides horse racing, sports betting wagering of any kind is not permitted in India. Despite that, unlawful wagering distributes flourish in the country.

'Black money'

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

With no legal opportunity, punters position 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 highest individual run scorer.

Most of these deals involve so-called "black money", which is cash not stated to the taxman.

The 1867 Public Gambling Act bars any kind of sports betting in India, however unlike in the US which has a law restricting web sports betting, there is absolutely nothing comparable here.

And overseas wagering business are utilizing this loophole to draw Indians. Despite the fact that there are no online wagering operators based out of India, a lot individuals have registered accounts with offshore firms.

"Legally you can escape [with this], as the law is uncertain for online sports betting," says Mumbai- based attorney HP Ranina.

But in spite of this, it is "offline gaming", done through phone calls which control the marketplace.

Require legalisation

The clamour to legalise sports betting in cricket has grown after a panel designated by India's Supreme Court proposed the concept, saying it would assist secure down on corruption in the country's preferred sport.

The Justice RM Lodha Commission was set up to recommend modifications in the performance of India's cricket regulatory 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 gamers and team officials were condemned of repairing parts of the match at the behest of bookies.

The panel likewise argues that legalised sports betting will generate tax earnings 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 likewise open a huge service opportunity for certified bookmakers and international online sports betting business to set up operations in India.

And it would help restrict match repairing in cricket and other sports betting, argue many, by assisting make transactions associated with sports betting more transparent.

"If you work alongside sports betting companies, you will have an extremely effective technique of marking out match fixing," says George Oborne, who runs a mock wagering website, India Bet.

But many also believe, that the taxes levied on the bettor and the bookmaker will need to be reasonable to make it appealing enough for them to gamble lawfully.

However, there are constraints.

"Definitely there will be prohibited sports betting since (some) individuals would not want to leave an audit trail by going into the white market," states Mr Oborne.

He adds that people who use unaccounted cash to place huge bets will never ever bet lawfully.

Approval question

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

"Despite the fact that many individuals are included in some sort of gaming - it's still a questionable issue for lots of," states our unnamed punter.

And given that India has a federal structural - each state will have to likewise pass a separate law to legalise 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 negative about this becoming a truth anytime soon."

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