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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 needing 17 go to win versus Australia.

In his two-bedroom home located in central Mumbai, a middle-aged guy is enjoying the game, nervously. He's resting on the edge of his grey colour couch with his cellphone glued to his best hand.

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

Five minutes previously his money was on Australia, and 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 tells his bookmaker on the phone.

And a couple of minutes later his prediction comes to life, as India wins the match in a nail-biting surface.

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

For more than three decades he's been wagering 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 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 gambling money is directed towards cricket.

Without any legal opportunity, punters place bets utilizing their phones by making calls to bookies. Gamblers can bet on anything related to the cricket match, from who is winning to the greatest specific run scorer.
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The majority of these deals involve so-called "black cash", which is cash not declared to the taxman.

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

And offshore sports betting business are utilizing this loophole to lure Indians. Although there are no online wagering operators based out of India, a lot individuals have actually signed up accounts with offshore firms.
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"Legally you can get away [with this], as the law is unclear for online sports betting," states Mumbai- based legal representative HP Ranina.

But despite this, it is "offline sports betting", done through phone calls which dominate the marketplace.

Calls for legalisation

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

The Justice RM Lodha Commission was set up to suggest modifications in the of India's cricket regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League sports betting scandal emerged.

Two franchises have been banned for 2 years after some players and group authorities 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 incomes for the exchequer that might total up to $2bn a year.

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

"I do not mind paying some money out my profits, as long as I can gamble openly," states our cricket bettor.

It would likewise open a substantial service chance for certified bookies and global online wagering companies to establish operations in India.

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

"If you work alongside wagering business, you will have a very effective approach of marking out match repairing," says 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 reasonable to make it attractive enough for them to gamble lawfully.

However, there are limitations.

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

He adds that individuals who use unaccounted cash to place big bets will never ever bet legally.

Approval question

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

"Despite the fact that lots of people are included in some sort of gambling - it's still a controversial problem for many," says our unnamed punter.

And considered 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 tricky that it will take years," says Mr Ranina."That's why, we are negative about this coming true anytime quickly."

Yet with the concept having actually been backed by an official panel for the very first time, a minimum of an argument has actually sparked around a topic - which until now was considered a taboo.