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Howzat? The clamour to legalise sports betting 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 go to win versus Australia.

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

He has actually made more than 10 calls in the last thirty minutes - not to discuss the match however to keep revising his bet.

Five minutes previously his cash was on Australia, now as the Indian batsman prepares yourself to face the last over he's changed his mind.

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

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

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

For more than 3 decades he's been banking on cricket matches. We can't reveal his name as what he's doing is prohibited in India.

Aside from horse racing, sports betting of any kind is not allowed in India. Despite that, unlawful sports betting distributes thrive in the country.

'Black money'

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

Without any legal avenue, punters place bets using their phones by making calls to bookmakers. Gamblers can wager on anything related to the cricket match, from who is winning to the greatest specific run scorer.

Most of these deals include so-called "black cash", 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 prohibiting web gambling, there is nothing comparable here.

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

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

But despite this, it is "offline gaming", done through telephone call which dominate the marketplace.

Require legalisation

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

The Justice RM Lodha Commission was set up to suggest modifications in the performance of India's cricket regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal came to light.

Two franchises have actually been prohibited for 2 years after some players and team authorities were discovered guilty of repairing parts of the match at the behest of bookies.

The panel likewise argues that legalised wagering will generate tax profits for the exchequer that might total up to $2bn a year.

Even gamblers feel that legalising sports betting is a move in the best instructions.

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

It would likewise open a substantial organization chance for licensed bookmakers and international online sports betting companies to set up operations in India.

And it would help restrict match fixing in cricket and other sports betting, argue numerous, by helping make transactions involved in sports betting more transparent.

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

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

However, there are limitations.

"Definitely there will be prohibited wagering since (some) individuals wouldn't wish to leave an audit path by going into the white market," says Mr Oborne.

He adds that people who use unaccounted money to position big bets will never gamble lawfully.

Approval question

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

"Although lots of people are included in some sort of sports betting - it's still a controversial concern for lots of," states our unnamed punter.

And considered that India has a federal structural - each state will have to likewise pass a different law to legalise sports betting in their area.

"The process is so long and difficult that it will take years," says Mr Ranina."That's why, we are cynical about this coming true anytime quickly."

Yet with the concept having been backed by an official panel for the very first time, at least a debate has fired up around a topic - which till now was thought about a taboo.

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