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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 reporter

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

In his two-bedroom home located in central Mumbai, a middle-aged male is seeing the video game, nervously. He's resting 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 contact the last thirty minutes - not to go over the match but to keep modifying his bet.

Five minutes previously his money was on Australia, however now as the Indian batsman gets ready to face 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 his prediction comes to life, as India wins the match in a .

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

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

Other than horse racing, sports betting of any kind is not enabled in India. Despite that, unlawful wagering distributes thrive in the country.

'Black money'

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

Without any legal avenue, punters position bets utilizing their phones by making calls to bookies. Gamblers can wager on anything associated to the cricket match, from who is winning to the highest specific run scorer.

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

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

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

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

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

Require legalisation

The clamour to legalise wagering in cricket has actually grown after a panel appointed by India's Supreme Court proposed the concept, stating it would help clamp down on corruption in the country's preferred sport.

The Justice RM Lodha Commission was set up to suggest 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 emerged.

Two franchises have been prohibited for two years after some players and group officials were condemned of repairing parts of the match at the behest of bookmakers.

The panel likewise argues that legalised wagering will bring in tax profits for the exchequer that could amount to $2bn a year.

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

"I do not mind paying some cash out my profits, as long as I can gamble publicly," says our cricket bettor.

It would also open a huge business chance for certified bookies and global online sports betting business to set up operations in India.

And it would help restrict match repairing in cricket and other sports betting, argue lots of, by helping make transactions associated with gambling more transparent.

"If you work alongside sports betting companies, you will have a very efficient approach of stamping out match repairing," says George Oborne, who runs a mock wagering site, India Bet.

But lots of likewise think, that the taxes levied on the bettor and the bookmaker will need to be affordable to make it attractive enough for them to gamble lawfully.

However, there are constraints.

"Definitely there will be illegal wagering since (some) people wouldn't want to leave an audit path by entering the white market," says Mr Oborne.

He includes that individuals who use unaccounted cash to place huge bets will never gamble legally.

Approval question

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

"Even however many people are involved in some sort of sports betting - it's still a controversial concern for lots of," says our unnamed punter.

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

"The procedure is so long and tricky that it will take years," says Mr Ranina."That's why, we are negative about this ending up being a reality anytime soon."

Yet with the concept having been endorsed by an official panel for the very first time, at least a debate has sparked around a subject - which previously was considered a taboo.