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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 situated in central Mumbai, a middle-aged guy is watching the video game, nervously. He's resting on the edge of his grey colour sofa with his glued to his best hand.

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

Five minutes earlier his cash was on Australia, today as the Indian batsman gets prepared 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 his prediction comes true, as India wins the match in a nail-biting surface.

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

For more than three years he's been banking on cricket matches. We can't reveal his name as what he's doing is unlawful in India.
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Aside from horse racing, sports betting wagering of any kind is not allowed India. Despite that, prohibited sports betting distributes thrive in the country.

'Black cash'

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 sports betting cash is directed towards cricket.

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

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

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

And offshore sports betting companies are using this loophole to entice 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 unclear for online gambling," states Mumbai- based legal representative HP Ranina.
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But in spite of this, it is "offline sports betting", 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 secure down on corruption in the nation's favourite sport.
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The Justice RM Lodha Commission was set up to recommend changes in the functioning of India's cricket regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League sports betting scandal emerged.

Two franchises have actually been prohibited for two years after some gamers and team authorities were condemned of repairing parts of the match at the wish of bookies.

The panel also argues that legalised sports betting will bring in tax incomes for the exchequer that might amount to $2bn a year.

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

"I do not mind paying some money out my revenues, as long as I can gamble openly," states our cricket gambler.

It would likewise open a substantial service chance for licensed bookmakers and worldwide online wagering business to set up operations in India.

And it would assist restrict match repairing in cricket and other sports betting, argue many, by assisting make deals involved in gambling more transparent.

"If you work alongside sports betting business, you will have a very effective technique of stamping out match repairing," states George Oborne, who runs a mock sports betting site, India Bet.
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But lots of also believe, that the taxes levied on the bettor 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) individuals would not wish to leave an audit path by going into the white market," states Mr Oborne.

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

Approval concern
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For sports betting to be legalised, parliamentary approval will be required to create a new law, and politically this will be a hard idea to sell.

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

And offered that India has a federal structural - each state will need to likewise pass a separate 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 coming true anytime quickly."

Yet with the concept having been endorsed by a main panel for the first time, a minimum of a dispute has actually ignited around a topic - which previously was thought about a taboo.