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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 reporter

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

In his two-bedroom house located in main Mumbai, a middle-aged guy 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 actually made more than 10 hire the last thirty minutes - not to go over the match but to keep revising his bet.

Five minutes earlier his cash was on Australia, today as the Indian batsman gets all set to deal with the last over he's altered his mind.

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

And a few minutes later on his prediction 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 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 wagering of any kind is not allowed India. Despite that, illegal sports betting distributes grow in the country.

'Black money'

According to the Doha-based International Centre for sports betting Security, India's prohibited 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 using 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.

The majority 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 gambling in India, however unlike in the US which has a law prohibiting internet gaming, there is nothing comparable here.

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

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

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

Calls for legalisation

The clamour to legalise wagering in cricket has actually grown after a panel appointed by India's Supreme Court proposed the idea, saying it would help secure down on corruption in the nation's preferred sport.

The Justice RM Lodha Commission was set up to recommend changes 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 actually been prohibited for 2 years after some gamers and group authorities were condemned of fixing parts of the match at the behest of bookmakers.

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

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

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

It would likewise open a big service opportunity for certified bookies and worldwide online wagering business to establish operations in India.

And it would assist limit match repairing in cricket and other sports betting, argue lots of, by helping make deals included in sports betting more transparent.

"If you work along with sports betting companies, you will have an extremely reliable approach of stamping out match fixing," says George Oborne, who runs a mock sports betting website, India Bet.

But lots of also believe, that the taxes imposed on the bettor and the bookie will have to be reasonable to make it attractive enough for them to gamble legally.

However, there are limitations.

"Definitely there will be prohibited wagering due to the fact that (some) individuals wouldn't wish to leave an audit path by entering the white market," states Mr Oborne.

He includes that individuals who utilize unaccounted cash to put big bets will never ever gamble lawfully.

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 lots of people are included in some sort of gaming - it's still a controversial problem for lots of," states our unnamed punter.

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

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

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

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