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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 press reporter

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

In his two-bedroom home located in central Mumbai, a middle-aged guy is watching the video game, nervously. He's sitting on the edge of his grey colour sofa with his smart phone glued to his right-hand man.

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

"I think India is winning, make the modification," he tells his bookie on the phone.

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 years he's been wagering 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, illegal wagering distributes prosper in the country.

'Black cash'

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

Without any legal opportunity, punters put bets utilizing their phones by making calls to bookies. Gamblers can bank on anything related to the cricket match, from who is winning to the greatest specific run scorer.

Most of these transactions involve so-called "black money", which is money not declared to the taxman.

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

And offshore sports betting business are using this loophole to draw Indians. Despite the fact that there are no operators based out of India, a lot people have registered accounts with overseas companies.

"Legally you can get away [with this], as the law is uncertain for online gaming," states Mumbai- based lawyer HP Ranina.

But regardless of this, it is "offline gaming", done through telephone call which control the marketplace.

Require legalisation

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

The Justice RM Lodha Commission was set up to recommend changes in the functioning 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 prohibited for 2 years after some players and group officials were condemned of fixing parts of the match at the request of bookies.

The panel also argues that legalised sports betting will generate tax revenues for the exchequer that might total up to $2bn a year.

Even gamblers feel that legalising sports betting wagering is a move in the best direction.

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

It would likewise open a substantial service chance for certified bookmakers and global 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 assisting make transactions involved in sports betting more transparent.

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

But many also think, that the taxes imposed on the gambler and the bookie will have to be sensible to make it attractive enough for them to gamble lawfully.

However, there are constraints.

"Definitely there will be illegal sports betting due to the fact that (some) individuals wouldn't desire to leave an audit trail by getting in the white market," says Mr Oborne.

He adds that people who use unaccounted money to place huge bets will never ever 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 idea to offer.

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

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

"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 reality anytime soon."

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