Howzat? The clamour to legalise sports betting wagering in India
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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 man is enjoying the video game, nervously. He's resting on the edge of his grey colour couch with his mobile phone glued to his best hand.

He has actually made more than 10 employ the last thirty minutes - not to talk about the match but to keep modifying his bet.

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

"I believe India is winning, make the change," he tells his bookmaker on the phone.

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

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

For more than 3 years he's been banking on cricket matches. We can't expose his name as what he's doing is unlawful in India.

Besides horse racing, sports betting of any kind is not enabled in India. Despite that, illegal sports betting distributes thrive in the country.

'Black money'

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

Without any legal avenue, punters place 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 highest specific run scorer.

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

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

And overseas wagering companies are using this loophole to entice Indians. Despite the fact that there are no online wagering operators based out of India, a lot individuals have signed up accounts with offshore companies.

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

But regardless of this, it is "offline sports betting", done through call which dominate the market.

Calls for legalisation

The clamour to legalise sports betting 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 recommend modifications in the performance of India's cricket regulatory body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal emerged.

Two franchises have been banned for two years after some players and group authorities were condemned of fixing parts of the match at the wish of bookies.

The panel likewise argues that legalised sports betting will bring in tax revenues for the exchequer that might total up to $2bn a year.

Even bettors feel that legalising sports betting wagering is a move in the right instructions.

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

It would likewise open a substantial organization chance for licensed bookies and global online wagering business to establish operations in India.
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And it would assist limit match fixing in cricket and other sports betting, argue lots of, by assisting make transactions associated with sports betting more transparent.

"If you work alongside wagering business, you will have an extremely reliable technique of stamping out match repairing," says George Oborne, who runs a mock wagering site, India Bet.

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

However, there are limitations.

"Definitely there will be unlawful wagering because (some) individuals wouldn't desire to leave an audit trail by getting in the white market," states Mr Oborne.

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

Approval concern

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

"Although lots of people are associated with some sort of gaming - it's still a controversial problem for lots of," says our unnamed punter.

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

"The procedure is so long and difficult that it will take years," states Mr Ranina."That's why, we are cynical about this becoming a truth anytime soon."

Yet with the idea having actually been backed by an official panel for the very first time, at least a debate has ignited around a topic - which previously was thought about a taboo.