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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 reporter
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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 main Mumbai, a middle-aged man is viewing the video game, nervously. He's sitting on the edge of his grey colour sofa with his cellphone glued to his right-hand man.

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

Five minutes earlier his money was on Australia, and now as the Indian batsman gets ready to face 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 his forecast comes to life, 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 three years he's been banking on cricket matches. We can't reveal his name as what he's doing is illegal in India.

Besides horse racing, sports betting wagering of any kind is not allowed India. Despite that, unlawful sports betting distributes grow 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 sports betting money is directed towards cricket.

Without any legal avenue, punters place bets utilizing their phones by making calls to bookies. Gamblers can bet on anything associated to the cricket match, from who is winning to the greatest specific run scorer.

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

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

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

"Legally you can get away [with this], as the law is unclear for online gaming," states Mumbai- based lawyer HP Ranina.
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But despite this, it is "offline gaming", done through call which control the market.

Require legalisation

The clamour to legalise sports betting in cricket has actually grown after a panel selected by India's Supreme Court proposed the idea, stating it would assist secure down on corruption in the nation's favourite sport.

The Justice RM Lodha Commission was set up to recommend modifications in the performance of regulatory body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League sports betting scandal emerged.
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Two franchises have actually been banned for 2 years after some players and group officials were condemned of fixing parts of the match at the request of bookmakers.

The panel also argues that legalised wagering will bring in tax revenues for the exchequer that might amount to $2bn a year.

Even gamblers feel that legalising sports betting wagering is a relocation in the ideal direction.

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

It would also open a big business opportunity for certified bookmakers and worldwide online sports betting business to establish operations in India.
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And it would help restrict match repairing in cricket and other sports betting, argue lots of, by assisting make transactions included in sports betting more transparent.

"If you work along with sports betting business, you will have a really reliable approach of stamping out match repairing," states George Oborne, who runs a mock wagering site, India Bet.

But many likewise believe, that the taxes levied on the bettor and the bookie will need to be reasonable to make it appealing enough for them to bet legally.

However, there are restrictions.

"Definitely there will be illegal sports betting because (some) people wouldn't want to leave an audit trail by getting in the white market," states Mr Oborne.

He includes that people who utilize unaccounted money to put huge bets will never ever bet lawfully.

Approval concern

For sports betting gambling to be legalised, parliamentary approval will be needed to develop a new law, and politically this will be a tough idea to offer.

"Although lots of people are associated with some sort of gaming - it's still a questionable concern for lots of," says our unnamed punter.

And offered that India has a federal structural - each state will need to also pass a separate law to legalise sports betting gambling 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 ending up being a truth anytime soon."

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