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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 against Australia.

In his two-bedroom home situated in main Mumbai, a middle-aged man is watching the video game, nervously. He's resting on the edge of his grey colour couch with his smart phone glued to his best hand.

He has made more than 10 calls in the last 30 minutes - not to talk about the match however to keep revising his bet.

Five minutes earlier his money was on Australia, today as the Indian batsman prepares to deal with the last over he's altered his mind.
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"I believe India is winning, make the change," he tells his bookie on the phone.

And a few minutes later his prediction becomes a reality, as India wins the match in a nail-biting surface.
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"I have actually made $200 today," he says with a childlike glee.

For more than 3 years he's been banking on cricket matches. We can't reveal his name as what he's doing is illegal in India.
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Other than horse racing, sports betting wagering of any kind is not allowed in India. Despite that, prohibited wagering syndicates flourish in the nation.

'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 sports betting cash is directed towards cricket.

Without any legal avenue, punters place bets utilizing their phones by making calls to bookmakers. Gamblers can bank on anything associated to the cricket match, from who is winning to the greatest individual run scorer.

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

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

And overseas sports betting are utilizing this loophole to draw Indians. Even though there are no online wagering operators based out of India, a lot individuals have registered accounts with offshore firms.

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

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

Calls for legalisation

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

The Justice RM Lodha Commission was established to suggest changes in the functioning of India's cricket regulatory body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League sports betting scandal emerged.
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Two franchises have actually been prohibited for two years after some gamers and team authorities were found guilty of repairing parts of the match at the request of bookies.

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

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

"I don't mind paying some money out my profits, as long as I can bet publicly," says our cricket bettor.

It would likewise open a huge company opportunity for certified bookies and international online sports betting business to set up operations in India.

And it would assist limit match repairing in cricket and other sports betting, argue lots of, by helping make transactions associated with sports betting more transparent.

"If you work together with sports betting business, you will have an extremely effective method of stamping out match fixing," states George Oborne, who runs a mock sports betting website, India Bet.

But lots of likewise believe, that the taxes levied on the gambler and the bookie will need to be reasonable to make it attractive enough for them to gamble legally.

However, there are constraints.

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

He adds that individuals who use unaccounted money to position huge bets will never bet legally.

Approval concern

For sports betting gambling to be legalised, parliamentary approval will be needed to produce a new law, and politically this will be a difficult idea to offer.

"Despite the fact that lots of people are included in some sort of gaming - it's still a controversial issue for lots of," states our unnamed punter.

And offered that India has a federal structural - each state will need to likewise pass a different law to legalise sports betting in their territory.
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"The process is so long and tricky that it will take years," says Mr Ranina."That's why, we are negative about this becoming a reality anytime quickly."

Yet with the idea having been endorsed by a main panel for the first time, a minimum of a dispute has sparked around a topic - which up until now was thought about a taboo.