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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 needing 17 runs to win against Australia.

In his two-bedroom home located in main Mumbai, a middle-aged guy is viewing the video game, nervously. He's resting on the edge of his grey colour sofa with his mobile phone glued to his right hand.

He has made more than 10 employ the last thirty minutes - not to the match however to keep modifying his bet.

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

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

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

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

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

Other than horse racing, sports betting wagering of any kind is not permitted in India. Despite that, unlawful sports betting syndicates thrive in the country.

'Black cash'

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

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

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

The 1867 Public Gambling Act bars any type of gaming in India, however unlike in the US which has a law forbiding internet gaming, there is nothing similar here.

And offshore sports betting business are using this loophole to tempt Indians. Despite the fact that there are no online wagering operators based out of India, a lot people have actually registered accounts with overseas companies.

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

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

Calls for legalisation

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

The Justice RM Lodha Commission was set up to suggest changes in the functioning 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 actually been banned for 2 years after some players and group officials were discovered guilty of fixing parts of the match at the request of bookies.

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

Even bettors feel that legalising sports betting wagering is a move in the ideal direction.

"I don't mind paying some cash out my profits, as long as I can bet publicly," states our cricket gambler.

It would also open a big company opportunity for licensed bookies and global online sports betting companies to set up operations in India.

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

"If you work alongside sports betting companies, you will have an extremely efficient method of stamping out match repairing," states George Oborne, who runs a mock wagering website, India Bet.

But numerous also believe, that the taxes levied on the bettor and the bookie will have to be sensible to make it appealing enough for them to gamble lawfully.

However, there are restrictions.

"Definitely there will be unlawful sports betting because (some) people would not desire to leave an audit path by going into the white market," states Mr Oborne.

He includes that people who use unaccounted cash to put huge bets will never ever bet legally.

Approval concern

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

"Even however numerous people are associated with some sort of sports betting - it's still a questionable issue for numerous," states our unnamed punter.

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

"The procedure is so long and difficult that it will take years," states Mr Ranina."That's why, we are cynical about this ending up being a reality anytime quickly."

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

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