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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 runs to win versus Australia.

In his two-bedroom home located in main Mumbai, a middle-aged guy is viewing the video game, nervously. He's sitting on the edge of his grey colour couch with his cellphone glued to his best hand.

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

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

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

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

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

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

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

'Black money'

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

With no legal avenue, punters put bets using their phones by making calls to bookies. Gamblers can bank on anything associated to the cricket match, from who is winning to the greatest specific run scorer.

Most of these deals include so-called "black money", which is money not stated to the taxman.

The 1867 Public Gambling Act bars any type of gaming in India, but unlike in the US which has a law restricting web gambling, there is nothing comparable here.

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

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

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

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 idea, saying it would assist secure down on corruption in the nation's favourite sport.

The Justice RM Lodha Commission was established to recommend 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 been banned for two years after some gamers and team officials were found guilty of fixing parts of the match at the wish of bookmakers.

The panel also argues that legalised sports betting will bring in tax profits for the exchequer that might total up 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 gambler.

It would also open a big company opportunity for certified bookies and international online sports betting business to set up operations in India.

And it would help limit match fixing in cricket and other sports betting, argue lots of, by helping make deals associated with gambling more transparent.

"If you work along with wagering business, you will have an extremely effective approach of marking out match repairing," states George Oborne, who runs a mock wagering site, India Bet.

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

However, there are limitations.

"Definitely there will be illegal sports betting because (some) people wouldn't desire to leave an audit trail by getting in the white market," states Mr Oborne.

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

Approval question

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

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

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

"The procedure is so long and tricky that it will take years," states Mr Ranina."That's why, we are cynical about this becoming a truth anytime quickly."

Yet with the idea having actually been endorsed by a main panel for the very first time, a minimum of an argument has sparked around a topic - which previously was thought about a taboo.

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