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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 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 home located in central Mumbai, a middle-aged male is watching the game, nervously. He's resting on the edge of his grey colour couch with his smart phone glued to his right-hand man.
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He has made more than 10 hire the last 30 minutes - not to go over the match but to keep modifying his bet.
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Five minutes earlier his money was on Australia, now as the prepares yourself to face the last over he's altered his mind.

"I think India is winning, make the modification," he informs his bookie on the phone.

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

"I have actually made $200 today," he says with a childlike glee.

For more than 3 years he's been wagering on cricket matches. We can't expose his name as what he's doing is illegal in India.

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

'Black money'

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

Without any legal avenue, punters position 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 greatest private run scorer.

The majority of these transactions include so-called "black cash", which is cash not declared to the taxman.

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

And overseas wagering business are utilizing this loophole to draw Indians. Even though there are no online wagering operators based out of India, a lot people have actually signed up accounts with overseas companies.

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

But in spite of this, it is "offline sports betting", done through telephone call which dominate the marketplace.

Calls for legalisation
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The clamour to legalise wagering in cricket has actually grown after a panel appointed by India's Supreme Court proposed the idea, saying it would help secure down on corruption in the country's favourite sport.

The Justice RM Lodha Commission was established to recommend modifications 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 2 years after some players and team officials were discovered guilty of fixing parts of the match at the request of bookmakers.

The panel likewise argues that legalised wagering will bring in tax revenues for the exchequer that could total up to $2bn a year.

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

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

It would likewise open a big company opportunity for certified bookies and international online wagering business to establish operations in India.

And it would assist restrict match fixing in cricket and other sports betting, argue many, by helping make deals associated with gambling more transparent.
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"If you work together with sports betting companies, you will have a very reliable approach of stamping out match fixing," says George Oborne, who runs a mock sports betting website, India Bet.

But lots of also think, that the taxes levied on the bettor and the bookmaker will need to be reasonable to make it appealing enough for them to bet lawfully.

However, there are constraints.

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

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

Approval concern

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

"Despite the fact that many individuals are included in some sort of gaming - it's still a controversial problem for many," states our unnamed punter.
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And given that India has a federal structural - each state will have to likewise pass a separate law to legalise sports betting gambling in their territory.

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

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