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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 press reporter

It is the last over of the cricket match, with India requiring 17 go to win against Australia.

In his two-bedroom house situated in main Mumbai, a middle-aged male is seeing the game, nervously. He's resting on the edge of his grey colour couch with his smart phone glued to his right hand.

He has actually made more than 10 contact the last 30 minutes - not to go over the match however to keep revising his bet.

Five minutes earlier his money was on Australia, but now as the Indian batsman prepares yourself to deal with the last over he's altered his mind.

"I think India is winning, make the modification," he tells his bookie on the phone.

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

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

Other than horse racing, sports betting wagering of any kind is not allowed India. Despite that, prohibited sports betting syndicates thrive in the country.

'Black money'

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

Without any legal avenue, punters position 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 greatest specific run scorer.

Most of these deals include so-called "black cash", which is money not declared to the taxman.

The 1867 Public Gambling Act bars any kind of gaming in India, but unlike in the US which has a law forbiding internet sports betting, there is absolutely nothing comparable here.

And overseas sports betting companies are using this loophole to tempt Indians. Although there are no online sports betting operators based out of India, a lot individuals have registered accounts with overseas companies.

"Legally you can get away [with this], as the law is unclear for online gaming," says Mumbai- based attorney HP Ranina.

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

Calls for legalisation

The clamour to legalise wagering in cricket has grown after a panel designated by India's Supreme Court proposed the idea, stating it would assist clamp down on corruption in the country's favourite 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 emerged.

Two franchises have actually been prohibited for two years after some players and group officials were condemned of fixing parts of the match at the request of bookies.

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

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

"I do not mind paying some cash out my revenues, as long as I can bet publicly," states our cricket bettor.

It would likewise open a substantial company chance for licensed bookies and international online wagering companies to set up operations in India.

And it would help limit match repairing in cricket and other sports betting, argue lots of, by assisting make transactions involved in sports betting more .

"If you work along with sports betting companies, you will have a very effective technique of marking out match repairing," says George Oborne, who runs a mock wagering website, India Bet.
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But many also believe, that the taxes imposed on the bettor and the bookie will have to be reasonable to make it appealing enough for them to gamble legally.

However, there are limitations.

"Definitely there will be prohibited wagering since (some) individuals wouldn't wish to leave an audit trail by entering the white market," says Mr Oborne.

He adds that people who utilize unaccounted cash to put big bets will never bet lawfully.

Approval concern

For sports betting gambling to be legalised, parliamentary approval will be needed to produce a new law, and politically this will be a difficult idea to sell.

"Despite the fact that lots of people are involved in some sort of gaming - it's still a controversial issue for numerous," states our unnamed punter.

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

"The process is so long and tricky that it will take years," states Mr Ranina."That's why, we are negative about this ending up being a truth anytime soon."

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