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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 go to win against Australia.

In his two-bedroom home located in central Mumbai, a middle-aged male is seeing the game, nervously. He's sitting on the edge of his grey colour sofa with his cellphone glued to his right hand.

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

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

"I think India is winning, make the change," he informs his 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 made $200 today," he says with a childish glee.

For more than three years he's been sports betting on cricket matches. We can't reveal 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 syndicates flourish in the country.

'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 position bets using their phones by making calls to bookies. Gamblers can wager on anything associated to the cricket match, from who is winning to the highest specific run scorer.

Most of these deals involve so-called "black money", which is money not stated to the taxman.

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

And overseas wagering business are utilizing this loophole to draw Indians. Although 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 ambiguous for online gaming," says Mumbai- based lawyer HP Ranina.

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

Require legalisation

The clamour to legalise wagering in cricket has grown after a panel selected by India's Supreme Court proposed the idea, stating it would assist clamp down on corruption in the country's preferred sport.

The Justice RM Lodha Commission was set up to suggest modifications in the functioning of India's cricket regulatory 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 2 years after some gamers and team officials were condemned of repairing parts of the match at the wish of bookies.

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

Even gamblers feel that legalising sports betting wagering is a relocation in the right direction.

"I do not mind paying some cash out my revenues, as long as I can gamble publicly," states our cricket bettor.

It would also open a big business chance for certified bookmakers and worldwide online sports betting companies to set up operations in India.

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

"If you work alongside wagering companies, you will have a very effective technique of stamping out match fixing," states George Oborne, who runs a mock sports betting website, India Bet.

But many also believe, that the taxes imposed on the bettor and the bookmaker will have to be reasonable to make it appealing enough for them to bet lawfully.

However, there are restrictions.
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"Definitely there will be unlawful wagering due to the fact that (some) individuals would not desire to leave an audit trail by getting in the white market," says Mr Oborne.
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He adds that people who use unaccounted money to place huge bets will never ever bet lawfully.

Approval concern

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

"Despite the fact that many individuals are associated with some sort of gambling - it's still a questionable problem for lots of," says our unnamed punter.

And given that India has a federal structural - each state will have 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," says Mr Ranina."That's why, we are negative about this becoming a reality anytime quickly."

Yet with the concept having actually been backed by an official panel for the very first time, at least a debate has actually ignited around a subject - which until now was considered a taboo.