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Howzat? The clamour to legalise sports betting in India

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 situated in central Mumbai, a middle-aged man is seeing the game, nervously. He's sitting on the edge of his grey colour couch with his smart phone glued to his right hand.

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

Five minutes earlier his cash was on Australia, now as the Indian batsman prepares to deal with the last over he's altered 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 to life, as India wins the match in a nail-biting finish.

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

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

Other than horse racing, sports betting wagering of any kind is not enabled in India. Despite that, illegal sports betting 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.

Without any legal avenue, punters put 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 involve so-called "black cash", which is cash not stated to the taxman.

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

And offshore sports betting companies are using this loophole to tempt Indians. Although there are no online sports betting operators based out of India, a lot individuals have registered accounts with offshore firms.

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

But in spite of this, it is "offline sports betting", done through call which dominate the marketplace.

Require legalisation

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

The Justice RM Lodha Commission was set up to suggest modifications in the performance of India's cricket regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal emerged.

Two franchises have actually been prohibited for two years after some gamers and group authorities were discovered guilty of fixing parts of the match at the wish of bookies.

The panel also 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 relocation in the ideal direction.

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

It would likewise open a substantial organization opportunity for certified bookmakers and international online sports betting business to establish operations in India.

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

"If you work together with sports betting business, you will have a very efficient technique of marking out match repairing," states George Oborne, who runs a mock sports betting site, India Bet.

But numerous likewise think, that the taxes imposed on the gambler and the bookie will need to be affordable to make it appealing enough for them to gamble legally.

However, there are restrictions.

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

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

Approval concern

For sports betting gambling to be legalised, parliamentary approval will be required to produce a brand-new law, and this will be a difficult idea to offer.

"Although many individuals are included in some sort of gambling - it's still a controversial problem for many," says our unnamed punter.

And offered that India has a federal structural - each state will have to likewise pass a separate law to legalise sports betting gambling in their territory.
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"The process is so long and tricky that it will take years," says Mr Ranina."That's why, we are cynical about this becoming a reality anytime quickly."

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