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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 requiring 17 go to win versus Australia.

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

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

Five minutes previously his cash was on Australia, today as the Indian batsman prepares to deal with the last over he's altered his mind.

"I believe India is winning, make the change," he tells his bookmaker on the phone.

And a couple of minutes later on his prediction becomes a reality, 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 expose his name as what he's doing is prohibited in India.

Besides horse racing, sports betting wagering of any kind is not allowed India. Despite that, illegal wagering syndicates flourish 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 sports betting cash is directed towards cricket.

With no legal opportunity, punters place bets using 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.

The majority of these transactions include so-called "black money", which is money 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 prohibiting internet sports betting, there is absolutely nothing comparable here.

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

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

But in spite of this, it is "offline gaming", done through phone calls which dominate the market.

Require legalisation

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

The Justice RM Lodha Commission was set up to suggest modifications 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 been prohibited for two years after some gamers and team officials were condemned of fixing parts of the match at the wish of bookmakers.

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

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

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

It would likewise open a substantial business chance for licensed bookmakers and global online wagering business to establish operations in India.
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And it would help limit match fixing in cricket and other sports betting, argue numerous, by helping make deals included in sports betting more transparent.

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

But lots of likewise believe, that the taxes imposed on the bettor and the bookmaker will need to be sensible to make it appealing enough for them to bet lawfully.

However, there are restrictions.

"Definitely there will be illegal sports betting since (some) individuals would not desire to leave an audit path by entering the white market," states Mr Oborne.

He includes that individuals who utilize unaccounted money to put huge bets will never ever gamble legally.

Approval question

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

"Even however lots of people are associated with some sort of gambling - it's still a questionable issue for many," says our unnamed punter.
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And considered that India has a federal structural - each state will have to likewise pass a different law to legalise sports betting in their territory.

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

Yet with the concept having been endorsed by a main panel for the very first time, at least a debate has fired up around a subject - which till now was considered a taboo.