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Howzat? The clamour to legalise sports betting wagering in India

5 February 2016

By Sameer Hashmi

Mumbai Business press reporter
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It is the last over of the cricket match, with India needing 17 runs to win against Australia.

In his two-bedroom home situated in main Mumbai, a middle-aged male is seeing the game, nervously. He's resting on the edge of his grey colour couch with his cellphone glued to his right hand.

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

Five minutes previously his money was on Australia, but now as the Indian batsman prepares yourself to face the last over he's changed his mind.

"I think India is winning, make the change," he tells his bookie on the phone.

And a few minutes later his forecast comes true, as India wins the match in a nail-biting surface.

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

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

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

'Black cash'

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

With no legal avenue, punters place 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.

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

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

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

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

But regardless of this, it is "offline sports betting", done through telephone call which dominate the market.

Require legalisation

The clamour to legalise sports betting in cricket has grown after a panel selected by India's Supreme Court proposed the concept, saying it would assist clamp 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 wagering scandal emerged.

Two franchises have actually been banned for two years after some players and group authorities were condemned of repairing parts of the match at the request of bookies.

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

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

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

It would also open a substantial organization chance for certified bookies and international online wagering business to establish operations in India.

And it would assist limit match fixing in cricket and other sports betting, argue lots of, by helping make transactions associated with sports betting more transparent.

"If you work alongside sports betting companies, you will have a really reliable method of stamping out match fixing," says George Oborne, who runs a mock sports betting website, India Bet.

But many also believe, that the taxes imposed on the gambler and the bookmaker will need to be affordable to make it appealing enough for them to gamble lawfully.

However, there are restrictions.

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

He adds that individuals who utilize unaccounted money to put big bets will never bet lawfully.

Approval concern

For sports betting to be legalised, parliamentary approval will be required to create a new law, and politically this will be a hard idea to sell.

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

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

Yet with the concept having been backed by a main panel for the very first time, a minimum of an argument has sparked around a subject - which till now was thought about a taboo.