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Howzat? The clamour to 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 runs to win versus Australia.

In his two-bedroom house located in main Mumbai, a middle-aged guy is enjoying the video game, nervously. He's resting on the edge of his grey colour sofa with his cellphone glued to his right hand.

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

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

"I believe India is winning, make the modification," he informs his bookie on the phone.

And a couple of minutes later on his forecast comes true, as India wins the match in a nail-biting finish.

"I have actually made $200 today," he states with a childish 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 illegal in India.

Other than horse racing, sports betting wagering of any kind is not allowed 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 illegal sports betting market deserves some $150bn a year. And much of that sports betting cash is directed towards cricket.

Without any legal avenue, punters position bets using their phones by making calls to bookies. Gamblers can bank on anything associated to the cricket match, from who is winning to the greatest individual run scorer.

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

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

And offshore sports betting business are utilizing this loophole to lure Indians. Even though there are no online wagering operators based out of India, a lot people have registered accounts with overseas firms.

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

But regardless of this, it is "offline gaming", done through phone calls which dominate the marketplace.

Calls for legalisation

The clamour to legalise wagering in cricket has actually grown after a panel designated by India's Supreme Court proposed the idea, saying it would help secure down on corruption in the nation's favourite sport.

The Justice RM Lodha Commission was set up to suggest changes in the functioning of India's cricket regulative 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 actually been banned for 2 years after some gamers and team officials were condemned of fixing parts of the match at the behest of bookies.
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The panel likewise argues that legalised wagering will bring in tax revenues for the exchequer that might total up to $2bn a year.

Even bettors feel that legalising sports betting wagering is a move in the ideal instructions.

"I don't mind paying some cash out my earnings, as long as I can gamble publicly," says our cricket bettor.

It would likewise open a substantial service chance for licensed bookies and global online wagering companies to set up operations in India.

And it would assist restrict match repairing in cricket and other sports betting, argue many, by assisting make deals included in gambling more transparent.

"If you work along with sports betting companies, you will have a very efficient technique of marking out match fixing," says George Oborne, who runs a mock sports betting site, India Bet.

But numerous likewise think, that the taxes imposed on the bettor and the bookmaker will have to be sensible to make it appealing enough for them to gamble legally.

However, there are restrictions.

"Definitely there will be illegal wagering since (some) people would not desire to leave an audit path by going into the white market," states Mr Oborne.

He adds that people who use 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 create a brand-new law, and politically this will be a difficult idea to offer.

"Despite the fact that lots of people are associated with some sort of gambling - it's still a questionable issue for lots of," says our unnamed punter.

And considered that India has a federal structural - each state will need to also pass a separate law to legalise sports betting gambling in their territory.
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"The process is so long and difficult that it will take years," states Mr Ranina."That's why, we are negative about this coming true anytime quickly."

Yet with the concept having actually been endorsed by a main panel for the very first time, a minimum of an argument has sparked around a subject - which up until now was considered a taboo.