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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 press reporter

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

In his two-bedroom house situated in main Mumbai, a middle-aged guy is watching the video game, nervously. He's sitting on the edge of his grey colour couch with his cellphone glued to his ideal hand.

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

Five minutes previously his cash was on Australia, and 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 change," he informs his bookmaker on the phone.

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

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

Other than horse racing, sports betting of any kind is not permitted in India. Despite that, illegal sports betting syndicates flourish in the nation.
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'Black cash'

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

With no legal avenue, punters position 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 greatest specific run scorer.

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

The 1867 Act bars any sort of gambling in India, but unlike in the US which has a law prohibiting internet sports betting, there is absolutely nothing comparable here.

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

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

But despite this, it is "offline gaming", done through telephone call which dominate 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, saying it would help 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 wagering scandal came to light.

Two franchises have been prohibited for 2 years after some players and group officials were condemned of fixing parts of the match at the wish of bookmakers.

The panel also argues that legalised wagering will generate tax revenues for the exchequer that could total up to $2bn a year.
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Even gamblers feel that legalising sports betting is a relocation in the best direction.

"I don't mind paying some money out my profits, as long as I can gamble openly," states our cricket bettor.

It would also open a huge service chance for licensed bookies and worldwide online wagering business to set up operations in India.

And it would assist limit match repairing in cricket and other sports betting, argue numerous, by assisting make transactions included in gambling more transparent.

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

But lots of likewise think, that the taxes imposed on the gambler and the bookmaker will have to be sensible to make it appealing enough for them to gamble legally.

However, there are restrictions.

"Definitely there will be prohibited sports betting since (some) people would not desire to leave an audit trail by getting in the white market," states Mr Oborne.
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He includes that individuals who use unaccounted money to place big bets will never gamble legally.

Approval concern
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For sports betting to be legalised, parliamentary approval will be needed to create a brand-new law, and politically this will be a difficult idea to sell.

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

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

"The procedure is so long and difficult that it will take years," says Mr Ranina."That's why, we are cynical about this becoming a reality anytime quickly."

Yet with the idea having actually been backed by a main panel for the first time, a minimum of a dispute has actually sparked around a subject - which previously was thought about a taboo.