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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 runs to win versus Australia.

In his two-bedroom home situated in main Mumbai, a middle-aged guy is watching the game, nervously. He's sitting on the edge of his grey colour couch with his to his right 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 money was on Australia, and now as the Indian batsman prepares yourself to deal with the last over he's changed his mind.

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

And a couple of minutes later on his forecast becomes a reality, as India wins the match in a nail-biting finish.

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

For more than three years he's been sports betting on cricket matches. We can't expose his name as what he's doing is illegal in India.

Aside from horse racing, sports betting wagering of any kind is not allowed in India. Despite that, prohibited sports betting distributes thrive in the country.

'Black cash'

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 sports betting money is directed towards cricket.

With no legal avenue, punters position bets using their phones by making calls to bookmakers. Gamblers can bank on anything related to the cricket match, from who is winning to the highest specific run scorer.

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

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

And offshore wagering business are using this loophole to tempt Indians. Even though there are no online sports betting operators based out of India, a lot individuals have actually registered accounts with overseas firms.

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

But in spite of this, it is "offline gaming", done through telephone call which dominate the marketplace.

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, stating it would help secure down on corruption in the nation's preferred sport.

The Justice RM Lodha Commission was set up 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 prohibited for 2 years after some gamers and group authorities were discovered guilty of fixing parts of the match at the wish of bookies.

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

Even gamblers feel that legalising sports betting wagering is a move in the ideal instructions.

"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 company chance for licensed bookmakers and worldwide online sports betting companies to establish operations in India.

And it would assist limit match fixing in cricket and other sports betting, argue lots of, by helping make transactions involved in sports betting more transparent.

"If you work together with sports betting companies, you will have a very efficient method of stamping out match repairing," states George Oborne, who runs a mock sports betting site, India Bet.

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

However, there are restrictions.

"Definitely there will be unlawful sports betting because (some) people would not wish to leave an audit trail by going into the white market," says Mr Oborne.

He adds that individuals who use unaccounted money to put big bets will never bet legally.

Approval question

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

"Although many individuals are involved in some sort of sports betting - it's still a questionable issue for lots of," says 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 area.

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

Yet with the concept having actually been endorsed by a main panel for the first time, at least an argument has actually ignited around a topic - which previously was thought about a taboo.