Howzat? The clamour to legalise sports betting wagering in India

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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 runs to win versus Australia.

In his two-bedroom house situated in main Mumbai, a middle-aged guy is viewing the game, nervously. He's sitting on the edge of his grey colour couch with his smart phone glued to his best hand.

He has actually made more than 10 calls in the last thirty minutes - not to talk about the match but to keep modifying his bet.

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

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

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

"I have made $200 today," he says with a childish glee.
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For more than 3 decades he's been sports betting on cricket matches. We can't expose his name as what he's doing is prohibited in India.

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

'Black cash'

According to the Doha-based International Centre for sports betting Security, India's prohibited sports betting wagering market is worth some $150bn a year. And much of that sports betting money is directed towards cricket.
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Without any legal opportunity, punters place bets using their phones by making calls to bookies. Gamblers can bet on anything related to the cricket match, from who is winning to the highest individual run scorer.

Most of these transactions include so-called "black money", which is money 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 prohibiting web gaming, there is absolutely nothing comparable here.

And offshore wagering business are utilizing this loophole to lure Indians. Although there are no online wagering operators based out of India, a lot people have actually signed up accounts with offshore firms.

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

But despite this, it is "offline sports betting", done through call which control the market.

Require legalisation

The clamour to legalise sports betting in cricket has grown after a panel appointed by India's Supreme Court proposed the idea, saying it would assist clamp down on corruption in the nation's preferred 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 emerged.

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 likewise argues that legalised sports betting will generate tax earnings for the exchequer that might amount to $2bn a year.

Even bettors feel that legalising sports betting wagering is a relocation in the best direction.

"I do not mind paying some cash out my profits, as long as I can gamble openly," says our cricket gambler.

It would likewise open a substantial business chance for certified bookmakers and global online sports betting business to set up operations in India.

And it would help limit match repairing in cricket and other sports betting, argue numerous, by assisting make deals associated with gambling more transparent.

"If you work together with wagering business, you will have an extremely reliable method of stamping out match repairing," says George Oborne, who runs a mock sports betting site, India Bet.

But many likewise believe, that the taxes levied on the bettor and the bookie will have to be reasonable to make it appealing enough for them to bet legally.

However, there are limitations.

"Definitely there will be prohibited wagering because (some) individuals wouldn't wish to leave an audit trail by getting in the white market," states Mr Oborne.

He includes that individuals who use unaccounted money to put big bets will never ever bet lawfully.

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 tough concept to offer.

"Although many individuals are associated with some sort of sports betting - it's still a controversial problem for many," says our unnamed punter.

And considered that India has a federal structural - each state will have to likewise pass a different law to legalise sports betting in their territory.

"The process is so long and tricky that it will take years," states Mr Ranina."That's why, we are negative about this coming true anytime quickly."

Yet with the concept having been endorsed by a main panel for the very first time, a minimum of an argument has around a topic - which until now was considered a taboo.
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