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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
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Mumbai Business press reporter
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It is the last over of the cricket match, with India needing 17 runs to win against Australia.

In his two-bedroom house located in main Mumbai, a middle-aged man is enjoying the game, nervously. He's resting on the edge of his grey colour couch with his cellphone glued to his right-hand man.

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

Five minutes earlier his money was on Australia, now as the Indian batsman prepares to deal with the last over he's changed his mind.

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

And a few minutes later his forecast becomes a reality, as India wins the match in a nail-biting finish.

"I have made $200 today," he says 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 illegal in India.

Other than horse racing, sports betting wagering of any kind is not allowed India. Despite that, illegal sports betting distributes grow in the nation.

'Black cash'

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 gambling money is directed towards cricket.

With no legal avenue, punters place 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 highest private run scorer.

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

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

And offshore sports betting companies are utilizing this loophole to entice Indians. Even though there are no online sports betting operators based out of India, a lot people have actually signed up accounts with offshore firms.

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

But regardless of this, it is "offline gambling", done through call which dominate the market.

Require legalisation

The clamour to legalise wagering in cricket has grown after a panel appointed by India's Supreme Court proposed the concept, saying 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 regulative 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 banned for two years after some players and group authorities were condemned of repairing parts of the match at the request of bookmakers.

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

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

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

It would also open a huge company chance for certified bookies and international online sports betting companies to establish operations in India.

And it would assist limit match repairing in cricket and other sports betting, argue numerous, by assisting make transactions included in sports betting more transparent.

"If you work along with wagering companies, you will have an extremely efficient technique of stamping out match repairing," says George Oborne, who runs a mock wagering site, India Bet.

But many also think, that the taxes imposed on the gambler and the bookie will have to be reasonable to make it attractive enough for them to gamble lawfully.

However, there are constraints.

"Definitely there will be prohibited wagering since (some) people wouldn't want to leave an audit trail by getting in the white market," says Mr Oborne.

He adds that people who use unaccounted money to position big bets will never ever bet legally.

Approval question

For sports betting to be legalised, parliamentary approval will be needed to develop a brand-new law, and politically this will be a hard idea to offer.
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"Although many individuals are associated with some sort of sports betting - it's still a questionable problem for numerous," 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 in their territory.
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"The process is so long and challenging that it will take years," says Mr Ranina."That's why, we are cynical about this coming true anytime quickly."

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