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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 press reporter

It is the last over of the cricket match, with India needing 17 runs to win versus Australia.

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

He has made more than 10 hire the last 30 minutes - not to go over the match however to keep revising his bet.

Five minutes previously his money was on Australia, however now as the Indian batsman gets all set to deal with the last over he's altered his mind.

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

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

"I have actually made $200 today," he states with a childish glee.

For more than 3 decades 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 India. Despite that, unlawful sports betting distributes thrive in the nation.

'Black money'

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

Without any legal avenue, punters position bets using their phones by making calls to bookmakers. Gamblers can wager on anything related to the cricket match, from who is winning to the greatest specific run scorer.

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

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

And overseas sports betting business are using this loophole to tempt Indians. Even though there are no online sports betting operators based out of India, a lot people have signed up accounts with overseas companies.

"Legally you can get away [with this], as the law is ambiguous for online sports betting," states Mumbai- based attorney HP Ranina.
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But in spite of this, it is "offline gambling", done through telephone call which control the marketplace.

Require legalisation

The clamour to legalise wagering in cricket has actually grown after a panel designated 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 established to suggest changes in the performance 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.

Two franchises have been prohibited for 2 years after some gamers and team officials were discovered guilty of fixing parts of the match at the wish of bookmakers.

The panel also argues that legalised sports betting will bring in tax profits for the exchequer that could amount to $2bn a year.

Even gamblers feel that legalising sports betting wagering is a move in the best instructions.

"I don't mind paying some cash out my earnings, as long as I can gamble openly," says our .

It would likewise open a big service opportunity for licensed bookmakers and worldwide online sports betting companies to establish operations in India.

And it would help restrict match fixing in cricket and other sports betting, argue numerous, by helping make deals involved in sports betting more transparent.

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

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

However, there are limitations.

"Definitely there will be illegal wagering because (some) people wouldn't wish to leave an audit trail by going into the white market," says Mr Oborne.

He includes that people who use unaccounted money to place big bets will never bet legally.

Approval concern

For sports betting to be legalised, parliamentary approval will be required to produce a new law, and politically this will be a hard idea to sell.

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

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

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

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