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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 needing 17 runs to win versus Australia.

In his two-bedroom house located in central Mumbai, a middle-aged guy is viewing the game, nervously. He’s resting on the edge of his grey colour sofa with his cellphone glued to his right hand.
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He has made more than 10 employ the last 30 minutes - not to discuss the match however to keep modifying his bet.

Five minutes previously his money was on Australia, however now as the Indian batsman prepares to face the last over he’s altered his mind.

“I believe India is winning, make the change,” he tells his bookie on the phone.

And a couple of minutes later his prediction comes to life, as India wins the match in a nail-biting surface.

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

For more than three decades he’s been banking on cricket matches. We can’t expose his name as what he’s doing is unlawful in India.

Aside from horse racing, sports betting wagering of any kind is not permitted in India. Despite that, prohibited sports betting syndicates prosper in the nation.

‘Black money’

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

Without any legal opportunity, punters place bets using their phones by making calls to bookmakers. Gamblers can wager on anything related to the cricket match, from who is winning to the highest specific run scorer.

The majority of these deals involve so-called “black cash”, which is money not declared to the taxman.

The 1867 Public Gambling Act bars any sort of gambling in India, but unlike in the US which has a law forbiding web sports betting, there is absolutely nothing comparable here.

And offshore wagering companies are utilizing this loophole to tempt 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 uncertain for online sports betting,” says Mumbai- based lawyer HP Ranina.

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

Calls for legalisation
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The clamour to legalise sports betting in cricket has actually grown after a panel designated by India’s Supreme Court proposed the idea, stating it would help secure down on corruption in the nation’s favourite sport.

The Justice RM Lodha Commission was set up to recommend modifications 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.
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Two franchises have been banned for 2 years after some gamers and group authorities were discovered guilty of fixing parts of the match at the wish of bookmakers.

The panel also argues that legalised wagering will bring in 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 right direction.

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

It would also open a huge business chance for certified bookmakers and international online sports betting companies to establish operations in India.

And it would help restrict match fixing in cricket and other sports betting, argue numerous, by assisting make transactions included in sports betting more transparent.

“If you work alongside sports betting business, you will have a really efficient technique of marking out match repairing,” states George Oborne, who runs a mock wagering website, India Bet.

But lots of also think, that the taxes imposed on the bettor and the bookie will need 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) people wouldn’t wish to leave an audit path by getting in the white market,” says Mr Oborne.

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

Approval concern

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

“Even however many individuals are associated with some sort of gaming - it’s still a questionable problem for lots of,” states 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 .
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“The procedure is so long and tricky that it will take years,” states Mr Ranina.“That’s why, we are negative about this becoming a truth anytime soon.”

Yet with the idea having actually been endorsed by an official panel for the first time, a minimum of a debate has fired up around a subject - which previously was thought about a taboo.
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