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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 reporter

It is the last over of the cricket match, with India requiring 17 runs to win versus Australia.

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

He has made more than 10 employ the last thirty minutes - not to talk about the match but to keep revising his bet.

Five minutes previously his cash was on Australia, but now as the Indian batsman gets prepared to deal with the last over he's changed his mind.

"I think India is winning, make the modification," he tells his bookmaker on the phone.

And a few minutes later his forecast comes real, as India wins the match in a nail-biting finish.

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

For more than three decades he's been banking on cricket matches. We can't reveal his name as what he's doing is illegal in India.

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

'Black cash'

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

With no legal opportunity, punters place bets using their phones by making calls to bookies. Gamblers can bank on anything related to the cricket match, from who is winning to the highest specific run scorer.

Most of these transactions include so-called "black cash", which is money not declared 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 gambling, there is nothing similar here.

And overseas wagering business are using this loophole to tempt Indians. Even though there are no online sports betting operators based out of India, a lot individuals have actually registered accounts with offshore firms.

"Legally you can get away [with this], as the law is ambiguous for online sports betting," says Mumbai- based lawyer HP Ranina.

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

Calls for legalisation

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

The Justice RM Lodha Commission was set up to recommend modifications in the functioning of India's cricket regulatory body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League sports betting scandal came to light.

Two have actually been banned for two years after some gamers and group officials were condemned of fixing parts of the match at the request of bookmakers.

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

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

"I don't mind paying some money out my revenues, as long as I can bet publicly," states our cricket bettor.

It would likewise open a big service opportunity for certified bookmakers and worldwide online sports betting business to set up operations in India.

And it would help limit match repairing in cricket and other sports betting, argue numerous, by helping make transactions associated with gambling more transparent.

"If you work along with sports betting business, you will have a really reliable approach of marking out match repairing," says George Oborne, who runs a mock wagering website, India Bet.

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

However, there are constraints.

"Definitely there will be prohibited wagering since (some) people would not desire to leave an audit path by getting in the white market," says Mr Oborne.

He includes that individuals who use unaccounted money to put big bets will never ever gamble legally.

Approval concern

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

"Although many people are included in some sort of gambling - it's still a controversial concern for numerous," says our unnamed punter.

And considered that India has a federal structural - each state will have to also pass a different law to legalise sports betting gambling in their territory.
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"The procedure is so long and difficult that it will take years," states Mr Ranina."That's why, we are cynical about this coming true anytime soon."

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