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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 press reporter

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

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

He has made more than 10 hire the last 30 minutes - not to talk about the match but to keep modifying his bet.

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

"I think India is winning, make the change," he informs his bookie on the phone.
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And a couple of minutes later his forecast comes true, as India wins the match in a nail-biting surface.
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"I have actually made $200 today," he says 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.

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

'Black money'

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

Without any legal avenue, punters position bets utilizing their phones by making calls to bookmakers. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest specific run scorer.

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

The 1867 Public Gambling Act bars any sort of gaming in India, but unlike in the US which has a law restricting web sports betting, there is nothing similar here.

And offshore wagering business are using this loophole to entice Indians. Despite the fact that there are no online wagering operators based out of India, a lot people have registered accounts with offshore firms.

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

But regardless of this, it is "offline sports betting", done through phone calls which dominate the marketplace.

Require legalisation

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

The Justice RM Lodha Commission was set up to recommend modifications 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 emerged.

Two franchises have been banned for 2 years after some gamers and group officials were condemned of fixing parts of the match at the behest of bookmakers.

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

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

"I do not mind paying some cash out my revenues, as long as I can bet publicly," states our cricket gambler.

It would likewise open a substantial service opportunity for licensed bookmakers and international online sports betting business to establish operations in India.

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

"If you work along with wagering business, you will have a really efficient method of marking out match repairing," states George Oborne, who runs a website, India Bet.

But lots of also believe, that the taxes imposed on the gambler and the bookmaker will have to be affordable to make it attractive enough for them to bet legally.

However, there are limitations.

"Definitely there will be unlawful wagering due to the fact that (some) people wouldn't want to leave an audit path by going into the white market," says Mr Oborne.

He adds that people who use unaccounted cash to put big bets will never ever bet lawfully.

Approval question
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For sports betting to be legalised, parliamentary approval will be needed to create a new law, and politically this will be a hard concept to sell.

"Even though many individuals are associated with some sort of sports betting - it's still a questionable issue for lots of," says our unnamed punter.

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

Yet with the concept having actually been endorsed by a main panel for the very first time, at least a dispute has actually sparked around a topic - which until now was considered a taboo.
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