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

In his two-bedroom house situated in central Mumbai, a middle-aged guy 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 actually made more than 10 employ the last 30 minutes - not to go over the match but to keep modifying his bet.

Five minutes earlier his cash was on Australia, today as the Indian batsman prepares 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 few minutes later his forecast becomes a reality, as India wins the match in a nail-biting surface.

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

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

Other than horse racing, sports betting of any kind is not permitted in India. Despite that, illegal wagering distributes flourish in the nation.

'Black cash'

According to the Doha-based International Centre for sports betting Security, India's unlawful sports betting market deserves 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 bookmakers. Gamblers can bank on anything associated to the cricket match, from who is winning to the greatest individual run scorer.

The majority of these deals involve so-called "black cash", 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 restricting internet gaming, there is nothing similar here.

And overseas wagering companies are utilizing this loophole to entice Indians. Despite the fact that there are no online sports betting operators based out of India, a lot individuals have actually registered accounts with offshore companies.

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

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

Calls for legalisation

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

The Justice RM Lodha Commission was set up to recommend 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 been banned for two years after some players and group officials were found guilty of fixing parts of the match at the request of bookies.
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The panel also argues that legalised sports betting will generate tax earnings for the exchequer that might total up to $2bn a year.

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

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

It would also open a big organization chance for certified bookies and international online sports betting companies to establish operations in India.

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

"If you work together with sports betting companies, you will have an extremely reliable method of marking out match repairing," states George Oborne, who runs a mock wagering site, India Bet.

But numerous also believe, that the taxes imposed on the bettor and the bookmaker will have to be sensible to make it attractive enough for them to bet lawfully.

However, there are constraints.

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

He includes that people who use unaccounted money to place huge bets will never bet lawfully.

Approval question

For sports betting gambling to be legalised, parliamentary approval will be needed to create a new law, and politically this will be a difficult concept to offer.

"Despite the fact that lots of people are associated with some sort of gaming - it's still a controversial problem for numerous," states 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 in their area.

"The procedure is so long and challenging 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 been endorsed by a main panel for the very first time, at least a dispute has fired up around a subject - which previously was considered a taboo.