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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 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 main Mumbai, a middle-aged male is watching the game, nervously. He's resting on the edge of his grey colour sofa with his mobile phone glued to his right-hand man.

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

Five minutes previously his money was on Australia, today as the Indian batsman prepares to face the last over he's changed 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 forecast becomes a reality, as India wins the match in a nail-biting surface.

"I have actually 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 in India.

Other than horse racing, sports betting wagering of any kind is not allowed India. Despite that, illegal sports betting distributes grow 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 money is directed towards cricket.

With no legal opportunity, punters put 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 highest individual 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 type of gaming in India, but unlike in the US which has a law forbiding internet gaming, there is absolutely nothing comparable here.

And offshore sports betting companies are utilizing this loophole to entice Indians. Although there are no online wagering operators based out of India, a lot individuals have actually signed up accounts with offshore companies.

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

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

Require legalisation

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

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

Two franchises have actually been banned for two years after some gamers and team officials 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 wagering is a move in the ideal instructions.

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

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

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

"If you work alongside wagering business, you will have a really reliable approach of stamping out match fixing," says George Oborne, who runs a mock wagering website, India Bet.

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

However, there are restrictions.

"Definitely there will be unlawful wagering because (some) people wouldn't want to leave an audit trail by entering the white market," states Mr Oborne.

He adds that people who use unaccounted cash to place big bets will never ever bet legally.

Approval question

For sports betting to be legalised, parliamentary approval will be required to create a brand-new law, and politically this will be a difficult concept to sell.

"Even though many individuals are associated with some sort of sports betting - it's still a controversial problem for lots of," states our unnamed punter.

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

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

Yet with the idea having been endorsed by an official panel for the very first time, a minimum of an argument has actually fired up around a topic - which until now was thought about a taboo.