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Howzat? The clamour to legalise sports betting in India

Published

5 February 2016

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By Sameer Hashmi
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Mumbai Business press reporter
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It is the last over of the cricket match, with India requiring 17 go to win versus Australia.

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

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

Five minutes earlier his money was on Australia, today as the Indian batsman prepares 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.

And a couple of minutes later on his forecast comes to life, as India wins the match in a nail-biting finish.
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"I have made $200 today," he states with a childish glee.

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

Aside from horse racing, sports betting of any kind is not permitted in India. Despite that, unlawful sports betting syndicates prosper in the nation.
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'Black money'

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

Without any 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 highest individual run scorer.

The majority of these transactions include so-called "black cash", which is cash not stated to the taxman.
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The 1867 Public Gambling Act bars any kind 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 sports betting business are using this loophole to entice Indians. Despite the fact that there are no online wagering operators based out of India, a lot people have actually signed up accounts with offshore companies.

"Legally you can get away [with this], as the law is ambiguous for online sports betting," says Mumbai- based lawyer HP Ranina.

But despite this, it is "offline gaming", done through call which control the market.

Require legalisation

The clamour to legalise wagering in cricket has actually grown after a panel appointed by India's Supreme Court proposed the idea, stating it would assist secure 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 regulatory body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal emerged.

Two franchises have actually been prohibited for 2 years after some gamers and team authorities were discovered guilty of fixing parts of the match at the behest of bookies.

The panel also argues that legalised wagering will generate tax earnings for the that might total up to $2bn a year.

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

"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 substantial organization opportunity for certified bookies and global online sports betting companies to establish operations in India.

And it would assist limit match repairing in cricket and other sports betting, argue many, by assisting make deals associated with sports betting more transparent.

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

But many likewise think, that the taxes levied on the bettor and the bookie will need to be reasonable to make it appealing enough for them to bet legally.

However, there are constraints.

"Definitely there will be prohibited sports betting due to the fact that (some) people would not wish to leave an audit trail by getting in the white market," says Mr Oborne.

He adds that people who use unaccounted money to put big bets will never gamble legally.

Approval concern

For sports betting gambling to be legalised, parliamentary approval will be needed to create a brand-new law, and politically this will be a tough concept to sell.

"Even though lots of people are included in some sort of gambling - it's still a controversial concern for numerous," states our unnamed punter.

And offered that India has a federal structural - each state will need to likewise pass a different law to legalise sports betting in their area.
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"The procedure is so long and difficult that it will take years," says Mr Ranina."That's why, we are negative about this ending up being a truth anytime soon."

Yet with the concept having been backed by a main panel for the very first time, at least a debate has sparked around a subject - which previously was thought about a taboo.
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