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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 reporter

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

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

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

Five minutes earlier his cash was on Australia, now as the Indian batsman gets all set to face the last over he's changed his mind.

"I believe India is winning, make the change," he tells his bookmaker on the phone.
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And a couple of minutes later on his forecast becomes a reality, as India wins the match in a nail-biting finish.

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

For more than three decades he's been banking on cricket matches. We can't expose his name as what he's doing is prohibited in India.

Aside from horse racing, sports betting wagering of any kind is not allowed India. Despite that, prohibited wagering distributes thrive 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 sports betting money is directed towards cricket.

With no legal opportunity, punters place bets utilizing their phones by making calls to bookmakers. Gamblers can bank on anything related to the cricket match, from who is winning to the greatest private run scorer.

Most of these deals include so-called "black cash", which is money not declared to the taxman.

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

And overseas sports betting business are using this loophole to draw Indians. Even though there are no online wagering operators based out of India, a lot people have actually registered accounts with offshore companies.

"Legally you can escape [with this], as the law is ambiguous for online gaming," states Mumbai- based attorney HP Ranina.

But regardless of this, it is "offline gaming", done through call which dominate the marketplace.
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Require legalisation

The clamour to legalise wagering in has grown after a panel selected by India's Supreme Court proposed the concept, saying it would help secure 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 regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League sports betting scandal came to light.

Two franchises have actually been prohibited for 2 years after some gamers and group officials were condemned of fixing parts of the match at the behest of bookies.
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The panel likewise argues that legalised wagering will bring in 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 right instructions.

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

It would likewise open a substantial company opportunity for licensed bookies and worldwide online sports betting companies to set up operations in India.

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

"If you work along with sports betting companies, you will have an extremely efficient technique of marking out match repairing," states George Oborne, who runs a mock wagering site, India Bet.

But numerous likewise think, that the taxes levied on the gambler and the bookie will have to be affordable to make it appealing enough for them to bet lawfully.

However, there are constraints.

"Definitely there will be prohibited sports betting because (some) individuals would not wish to leave an audit trail by going into the white market," states Mr Oborne.

He includes that people who utilize unaccounted money to position huge bets will never bet legally.

Approval question

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

"Although many individuals are involved in some sort of gambling - it's still a questionable concern for many," says our unnamed punter.

And considered that India has a federal structural - each state will have to also pass a different law to legalise sports betting gambling 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 coming true anytime soon."

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