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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 against Australia.

In his two-bedroom house located in central Mumbai, a middle-aged male is viewing the game, nervously. He's sitting on the edge of his grey colour couch with his mobile phone glued to his right hand.
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He has actually made more than 10 hire the last thirty minutes - not to discuss the match but to keep revising his bet.

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

"I think India is winning, make the change," he informs his bookmaker on the phone.

And a few minutes later on his prediction comes real, as India wins the match in a nail-biting finish.
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"I have actually made $200 today," he states with a childlike glee.

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.

Aside from horse racing, sports betting of any kind is not enabled in India. Despite that, unlawful wagering distributes flourish in the nation.

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

Without any legal opportunity, punters place bets using their phones by making calls to bookies. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest specific run scorer.

Most of these deals involve so-called "black cash", which is cash not declared 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 prohibiting web gaming, there is absolutely nothing similar here.

And overseas wagering business are utilizing this loophole to lure Indians. Despite the fact that there are no online wagering operators based out of India, a lot individuals have actually registered 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 in spite of this, it is "offline sports betting", done through phone calls which control the market.

Require legalisation

The clamour to legalise wagering 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 country's preferred sport.

The Justice RM Lodha Commission was established to suggest modifications in the functioning of India's cricket regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal came to light.

Two franchises have been banned for two years after some gamers and team officials were found guilty of fixing parts of the match at the wish of bookies.

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 move in the right instructions.

"I do not mind paying some cash out my profits, as long as I can gamble publicly," says our cricket bettor.

It would also open a huge service chance for licensed bookmakers and international online wagering companies to establish operations in India.

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

"If you work alongside wagering companies, you will have a really efficient approach of marking out match repairing," says George Oborne, who runs a mock wagering website, India Bet.

But many also believe, that the taxes imposed on the bettor and the bookmaker will need to be reasonable to make it attractive enough for them to bet lawfully.

However, there are .

"Definitely there will be unlawful sports betting because (some) individuals wouldn't wish to leave an audit trail by entering the white market," states Mr Oborne.

He adds that individuals who utilize unaccounted money to position huge bets will never ever bet lawfully.

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 difficult idea to sell.

"Even though many individuals are included in some sort of gaming - it's still a questionable problem for numerous," states our unnamed punter.

And considered that India has a federal structural - each state will have to likewise pass a different law to legalise sports betting in their territory.
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"The procedure is so long and tricky that it will take years," states Mr Ranina."That's why, we are negative about this coming true anytime soon."

Yet with the concept having been backed by a main panel for the first time, a minimum of an argument has sparked around a subject - which until now was thought about a taboo.
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