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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 requiring 17 runs to win versus Australia.
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In his two-bedroom house situated in central Mumbai, a middle-aged guy is watching the game, nervously. He's resting on the edge of his grey colour couch with his mobile phone glued to his right-hand man.

He has made more than 10 contact the last 30 minutes - not to go over the match but to keep modifying his bet.

Five minutes previously his cash was on Australia, however now as the Indian batsman prepares 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 forecast comes real, 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 wagering 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 allowed India. Despite that, prohibited sports betting distributes grow in the nation.
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'Black cash'

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

With no legal opportunity, punters put bets utilizing their phones by making calls to bookies. Gamblers can bet on anything associated to the cricket match, from who is winning to the highest individual run scorer.

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

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

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

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

But despite this, it is "offline gaming", done through call which control the marketplace.

Calls for legalisation

The clamour to legalise sports betting in cricket has grown after a panel selected 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 set up to suggest 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 came to light.

Two franchises have been banned for 2 years after some gamers and team authorities were condemned of fixing parts of the match at the behest of bookies.

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 is a move in the best instructions.

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

It would likewise open a substantial company chance for and worldwide online wagering companies to establish operations in India.

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

"If you work together with wagering companies, you will have a really efficient technique of stamping out match repairing," says George Oborne, who runs a mock wagering website, India Bet.

But lots of likewise think, that the taxes levied on the bettor and the bookie will need to be sensible to make it attractive enough for them to bet legally.

However, there are restrictions.

"Definitely there will be prohibited sports betting due to the fact that (some) people would not desire to leave an audit trail by entering the white market," says Mr Oborne.

He adds that individuals who utilize unaccounted cash to position big bets will never bet lawfully.

Approval question

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

"Despite the fact that numerous individuals are included in some sort of sports betting - it's still a questionable problem for numerous," says our unnamed punter.

And given that India has a federal structural - each state will need to likewise pass a separate law to legalise sports betting gambling in their area.

"The process is so long and tricky that it will take years," says Mr Ranina."That's why, we are cynical about this becoming a reality anytime soon."

Yet with the concept having been backed by a main panel for the very first time, at least a debate has ignited around a topic - which previously was thought about a taboo.