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 reporter

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

In his two-bedroom house situated in central Mumbai, a middle-aged male is watching the video game, nervously. He's sitting on the edge of his grey colour couch with his cellphone glued to his best hand.

He has actually made more than 10 calls in the last thirty minutes - not to go over the match however to keep revising his bet.

Five minutes earlier his money was on Australia, today as the Indian batsman gets prepared to deal with 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 few minutes later on his forecast comes to life, as India wins the match in a nail-biting finish.

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

For more than 3 decades he's been banking on cricket matches. We can't expose his name as what he's doing is in India.

Besides horse racing, sports betting wagering of any kind is not enabled in India. Despite that, illegal wagering syndicates thrive in the nation.

'Black cash'

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

With no legal opportunity, punters place bets using their phones by making calls to bookmakers. Gamblers can bank on anything associated to the cricket match, from who is winning to the greatest specific run scorer.

The majority 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, however unlike in the US which has a law forbiding internet gaming, there is nothing similar here.

And overseas sports betting companies are using this loophole to draw Indians. Despite the fact that there are no online wagering 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 unclear for online gaming," states Mumbai- based lawyer HP Ranina.

But despite this, it is "offline sports betting", done through call which control the marketplace.

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, saying it would assist secure down on corruption in the country's favourite sport.

The Justice RM Lodha Commission was set up to recommend 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 sports betting scandal came to light.

Two franchises have been prohibited for 2 years after some players and team authorities were condemned of repairing parts of the match at the wish of bookmakers.

The panel also argues that legalised sports betting will bring in tax incomes 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 revenues, as long as I can gamble openly," states our cricket gambler.

It would likewise open a huge service chance for licensed bookies and international online sports betting companies to establish operations in India.

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

"If you work along with wagering companies, you will have a really effective technique of marking out match fixing," states George Oborne, who runs a mock wagering site, India Bet.

But lots of also think, that the taxes levied on the bettor and the bookie will need to be affordable to make it appealing enough for them to bet legally.

However, there are restrictions.

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

He adds that individuals who utilize unaccounted money to place huge bets will never ever bet legally.

Approval concern

For sports betting to be legalised, parliamentary approval will be required to produce a new law, and politically this will be a difficult idea to sell.

"Even however lots of people are involved in some sort of gaming - it's still a controversial issue for numerous," states our unnamed punter.

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

"The process is so long and difficult 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 an official panel for the first time, at least a dispute has actually sparked around a topic - which up until now was considered a taboo.
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