Howzat? The clamour to legalise sports betting wagering in India
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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 go to win against Australia.

In his two-bedroom house situated 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 cellphone glued to his right-hand man.

He has actually made more than 10 employ the last 30 minutes - not to discuss the match but to keep revising his bet.

Five minutes previously his money was on Australia, however now as the Indian batsman gets all set to face the last over he's altered his mind.

"I believe India is winning, make the modification," he informs his bookie on the phone.

And a few minutes later on his forecast becomes a reality, as India wins the match in a nail-biting finish.

"I have made $200 today," he states with a childlike glee.

For more than 3 years he's been sports betting on cricket matches. We can't expose his name as what he's doing is unlawful in India.

Other than horse racing, sports betting wagering of any kind is not allowed India. Despite that, prohibited sports betting syndicates thrive in the nation.

'Black money'

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

Without any legal avenue, punters put bets utilizing their phones by making calls to bookies. Gamblers can wager on anything associated to the cricket match, from who is winning to the highest specific run scorer.

The majority of these transactions include so-called "black money", which is cash not stated to the taxman.

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

And offshore wagering business are utilizing this loophole to entice Indians. Despite the fact that there are no online sports betting operators based out of India, a lot individuals have actually signed up accounts with offshore firms.

"Legally you can escape [with this], as the law is unclear for online gaming," states Mumbai- based attorney HP Ranina.

But in spite of this, it is "offline sports betting", done through telephone call which dominate the marketplace.

Calls for legalisation

The clamour to legalise wagering in cricket has grown after a panel selected by India's Supreme Court proposed the concept, stating it would assist secure down on corruption in the country's favourite sport.

The Justice RM Lodha Commission was set up to recommend changes in the performance of regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal emerged.

Two franchises have been banned for two years after some gamers and team officials were condemned of fixing parts of the match at the wish of bookies.

The panel likewise argues that legalised sports betting will generate tax revenues for the exchequer that could amount to $2bn a year.

Even gamblers feel that legalising sports betting is a relocation in the best direction.

"I do not mind paying some cash out my revenues, as long as I can bet publicly," says our cricket bettor.

It would also open a big organization opportunity for certified bookmakers and worldwide online sports betting business to establish operations in India.

And it would assist limit match fixing in cricket and other sports betting, argue many, by assisting make deals associated with sports betting more transparent.

"If you work together with wagering business, you will have a very efficient approach of stamping out match fixing," says George Oborne, who runs a mock wagering website, India Bet.

But numerous also think, that the taxes levied on the bettor and the bookmaker will have to be affordable to make it attractive enough for them to bet legally.

However, there are restrictions.

"Definitely there will be illegal wagering because (some) people wouldn't desire to leave an audit trail by entering the white market," says Mr Oborne.

He includes that people who utilize unaccounted money to position huge bets will never gamble legally.

Approval concern

For sports betting to be legalised, parliamentary approval will be required to develop a new law, and politically this will be a tough concept to offer.

"Although many individuals are associated with some sort of gambling - it's still a questionable problem for lots of," says our unnamed punter.

And given that India has a federal structural - each state will need to also pass a different law to legalise sports betting in their area.

"The process is so long and challenging that it will take years," says Mr Ranina."That's why, we are cynical about this ending up being a reality anytime soon."

Yet with the idea having actually been backed by an official panel for the very first time, a minimum of a debate has ignited around a topic - which previously was thought about a taboo.
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