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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

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

In his two-bedroom house situated in central Mumbai, a middle-aged man is enjoying the video game, nervously. He's resting on the edge of his grey colour sofa with his smart phone glued to his right-hand man.

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

Five minutes earlier his cash was on Australia, now as the Indian batsman gets prepared to face the last over he's changed his mind.

"I think India is winning, make the modification," he informs his bookmaker on the phone.

And a couple of minutes later his prediction comes real, as India wins the match in a nail-biting surface.

"I have actually made $200 today," he says with a childlike 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 prohibited in India.
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Besides horse racing, sports betting of any kind is not permitted in India. Despite that, illegal wagering syndicates prosper in the nation.

'Black cash'

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

Without any legal opportunity, 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 individual run scorer.

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

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

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

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

But despite this, it is "offline gambling", done through telephone call which dominate the market.
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Require legalisation

The clamour to legalise sports betting in cricket has grown after a panel selected by India's Supreme Court proposed the idea, saying it would help clamp down on corruption in the nation's preferred sport.

The Justice RM Lodha Commission was set up to recommend modifications in the performance of India's cricket regulatory 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 banned for 2 years after some players and team officials were condemned of repairing parts of the match at the wish of bookies.
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The panel likewise argues that legalised wagering will generate tax incomes for the exchequer that could total up to $2bn a year.

Even gamblers feel that legalising sports betting is a move in the ideal direction.
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"I do not mind paying some cash out my profits, as long as I can bet publicly," says our cricket bettor.

It would likewise open a big organization opportunity for licensed bookies and global online sports betting business to establish operations in India.

And it would assist limit match repairing in cricket and other sports betting, argue numerous, by assisting make deals associated with sports betting more transparent.

"If you work alongside wagering companies, you will have a really reliable approach of marking out match fixing," states George Oborne, who runs a mock sports betting website, India Bet.

But many also believe, that the taxes imposed on the gambler and the bookie will have to be affordable to make it appealing enough for them to bet legally.

However, there are limitations.

"Definitely there will be illegal wagering due to the fact that (some) people wouldn't desire to leave an audit trail by going into the white market," states Mr Oborne.

He includes that individuals who use unaccounted cash to position big bets will never gamble lawfully.

Approval concern

For sports betting to be legalised, parliamentary approval will be required to create a brand-new law, and politically this will be a difficult concept to offer.

"Despite the fact that lots of people are associated with some sort of sports betting - it's still a controversial concern for lots of," says our unnamed punter.

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

"The process is so long and challenging that it will take years," says Mr Ranina."That's why, we are negative about this coming true anytime soon."

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