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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 reporter

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

In his two-bedroom house situated in central Mumbai, a middle-aged man is viewing the game, nervously. He's sitting on the edge of his grey colour couch with his smart phone glued to his ideal hand.

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

Five minutes previously his cash was on Australia, 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 forecast comes true, as India wins the match in a nail-biting finish.

"I have made $200 today," he says with a childlike glee.
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For more than three decades he's been sports betting on cricket matches. We can't reveal 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 sports betting distributes thrive in the country.

'Black money'

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 sports betting cash is directed towards cricket.

With no 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.

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 sort of gambling in India, however unlike in the US which has a law forbiding web gaming, there is nothing comparable here.

And overseas sports betting companies are utilizing this loophole to lure Indians. Even though there are no online wagering operators based out of India, a lot people have actually signed up accounts with overseas firms.

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

But despite this, it is "offline gambling", done through telephone call which control the marketplace.
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Calls for legalisation

The clamour to legalise sports betting 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 preferred sport.

The Justice RM Lodha Commission was set up 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 2 years after some players and group authorities were condemned of fixing parts of the match at the request of .

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

Even bettors feel that legalising sports betting is a move in the ideal direction.

"I do not mind paying some money out my earnings, as long as I can bet openly," says our cricket gambler.

It would likewise open a huge organization opportunity for certified bookmakers 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 deals involved in gambling more transparent.

"If you work alongside wagering companies, you will have a really efficient approach of marking out match fixing," states George Oborne, who runs a mock wagering site, India Bet.
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But lots of also think, that the taxes imposed on the gambler and the bookie will have to be affordable to make it appealing enough for them to gamble lawfully.

However, there are limitations.

"Definitely there will be illegal wagering due to the fact that (some) people wouldn't wish to leave an audit path by getting in the white market," says Mr Oborne.

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

Approval question

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 associated with some sort of gambling - it's still a controversial concern for lots of," states our unnamed punter.

And given that India has a federal structural - each state will have to likewise pass a different law to legalise sports betting in their area.

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

Yet with the concept having been endorsed by an official panel for the very first time, at least a dispute has fired up around a subject - which till now was considered a taboo.