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Howzat? The clamour to legalise sports betting wagering in India

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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 runs to win against Australia.

In his two-bedroom home situated in central Mumbai, a middle-aged male is viewing the video game, nervously. He’s resting on the edge of his grey colour couch with his cellphone glued to his right hand.

He has actually made more than 10 contact the last thirty minutes - not to talk about the match but to keep revising his bet.

Five minutes earlier his cash was on Australia, and now as the Indian batsman prepares yourself to face the last over he’s changed his mind.
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"I believe India is winning, make the change,” he informs his bookie on the phone.
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And a couple of minutes later his prediction becomes a reality, as India wins the match in a nail-biting finish.

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

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

Other than horse racing, sports betting wagering of any kind is not enabled in India. Despite that, prohibited wagering distributes flourish in the country.

'Black money'

According to the Doha-based International Centre for sports betting Security, India’s illegal sports betting market is worth 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 bet on anything related to the cricket match, from who is winning to the greatest private run scorer.

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

The 1867 Public Gambling Act bars any type of sports betting in India, but unlike in the US which has a law restricting internet gambling, there is absolutely nothing similar here.

And offshore wagering companies are using this loophole to . Despite the fact that there are no online sports betting operators based out of India, a lot individuals have signed up accounts with overseas firms.

"Legally you can get away [with this], as the law is ambiguous for online gambling,” states Mumbai- based attorney HP Ranina.

But despite this, it is “offline gaming”, done through phone calls which dominate the market.

Require legalisation

The clamour to legalise sports betting in cricket has actually grown after a panel appointed by India’s Supreme Court proposed the idea, saying it would help secure down on corruption in the nation’s favourite 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 wagering scandal came to light.

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

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

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

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

It would likewise open a big business chance for certified bookmakers and worldwide online sports betting business to establish operations in India.

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

"If you work alongside wagering companies, you will have a very effective approach of stamping out match repairing,” says George Oborne, who runs a mock sports betting website, India Bet.

But numerous also think, that the taxes imposed on the gambler and the bookmaker will need to be affordable to make it appealing enough for them to gamble legally.

However, there are restrictions.

"Definitely there will be prohibited wagering due to the fact that (some) people would not want to leave an audit path by going into the white market,” states Mr Oborne.

He includes that people who utilize unaccounted money to place big bets will never gamble legally.

Approval question

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.

"Despite the fact that many people are associated with some sort of sports betting - it’s still a controversial problem for numerous,” says our unnamed punter.

And provided that India has a federal structural - each state will need to also pass a different law to legalise sports betting in their territory.

"The procedure is so long and challenging that it will take years,” states Mr Ranina.“That’s why, we are negative about this ending up being a truth anytime quickly.“

Yet with the idea having been backed by an official panel for the first time, at least a debate has actually sparked around a subject - which previously was considered a taboo.