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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 needing 17 go to win against Australia.

In his two-bedroom house located in central Mumbai, a middle-aged guy is enjoying the video game, nervously. He's sitting on the edge of his grey colour sofa with his smart phone glued to his right hand.

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

Five minutes previously his money was on Australia, but now as the Indian batsman prepares to face 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 on his prediction comes to life, as India wins the match in a nail-biting finish.

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

Besides horse racing, sports betting wagering of any kind is not permitted in 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 unlawful sports betting wagering market deserves some $150bn a year. And much of that sports betting money is directed towards cricket.

With no legal avenue, punters place bets using their phones by making calls to bookmakers. Gamblers can bet on anything related to the cricket match, from who is winning to the highest specific run scorer.
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Most of these deals involve 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 restricting internet sports betting, there is nothing comparable here.

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

"Legally you can escape [with this], as the law is uncertain for online sports betting," says Mumbai- based legal representative HP Ranina.

But regardless of this, it is "offline gambling", done through call which control the market.

Calls for legalisation

The clamour to legalise sports betting in cricket has grown after a panel designated by India's Supreme Court proposed the concept, stating it would help clamp down on corruption in the nation's preferred sport.

The Justice RM Lodha Commission was established to suggest changes 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 been banned for 2 years after some players and team authorities were found guilty of repairing parts of the match at the behest of bookmakers.

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

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

"I don't mind paying some money out my revenues, as long as I can bet publicly," states our cricket gambler.

It would likewise open a big company chance for licensed bookies and global online wagering companies to establish operations in India.

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

"If you work together with sports betting business, you will have a very efficient approach of marking out match fixing," states George Oborne, who runs a mock wagering site, India Bet.

But numerous also think, that the taxes levied on the bettor and the bookmaker will need to be sensible to make it attractive enough for them to bet lawfully.

However, there are limitations.

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

He includes that people who use unaccounted cash to place huge bets will never ever bet legally.

Approval concern

For sports betting gambling to be legalised, parliamentary approval will be required to develop a new law, and politically this will be a tough concept to sell.

"Despite the fact that lots of people are associated with some sort of gaming - it's still a controversial issue for lots of," states our unnamed punter.
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And considered that India has a federal structural - each state will have to likewise pass a different law to legalise sports betting gambling in their area.
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"The procedure is so long and challenging that it will take years," says Mr Ranina."That's why, we are negative about this ending up being a reality anytime quickly."

Yet with the concept having been endorsed by an official panel for the very first time, at least an argument has actually sparked around a subject - which up until now was thought about a taboo.