Howzat? The clamour to legalise sports betting wagering in India
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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 go to win versus Australia.

In his two-bedroom house located in main Mumbai, a middle-aged man is viewing the video game, nervously. He's sitting on the edge of his grey colour sofa with his cellphone glued to his right-hand man.

He has actually 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 cash was on Australia, but now as the Indian batsman gets prepared to deal with 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 few minutes later on his prediction becomes a reality, as India wins the match in a nail-biting finish.

"I have actually made $200 today," he states 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 illegal in India.

Besides horse racing, sports betting wagering of any kind is not allowed India. Despite that, illegal wagering syndicates prosper in the nation.

'Black money'

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

With no legal avenue, punters position bets using their phones by making calls to bookies. Gamblers can wager on anything associated to the cricket match, from who is winning to the greatest private run scorer.

Most of these deals include so-called "black cash", which is cash not declared to the taxman.

The 1867 Public Gambling Act bars any type of gaming in India, however unlike in the US which has a law prohibiting web gaming, there is nothing comparable here.

And overseas wagering business are using this loophole to draw Indians. Despite the fact that there are no online wagering operators based out of India, a lot people have actually signed up accounts with overseas companies.

"Legally you can get away [with this], as the law is ambiguous for online gambling," says Mumbai- based legal representative HP Ranina.

But in spite of this, it is "offline gambling", done through call which dominate the marketplace.

Calls for legalisation

The clamour to legalise wagering in cricket has actually grown after a panel selected by India's Supreme Court proposed the idea, stating it would help secure down on corruption in the country's preferred sport.
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The Justice RM Lodha was established to suggest 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.

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

The panel also argues that legalised wagering will generate 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 best direction.

"I do not mind paying some money out my revenues, as long as I can bet openly," says our cricket bettor.

It would likewise open a big service chance for certified bookmakers and worldwide online wagering companies to establish operations in India.

And it would assist restrict match repairing in cricket and other sports betting, argue many, by assisting make transactions involved in sports betting more transparent.

"If you work along with wagering companies, you will have an extremely effective method of marking out match fixing," states George Oborne, who runs a mock wagering site, India Bet.

But lots of likewise believe, that the taxes levied on the gambler and the bookmaker will need to be sensible to make it appealing enough for them to gamble legally.

However, there are limitations.

"Definitely there will be prohibited sports betting since (some) individuals wouldn't want to leave an audit trail by entering the white market," says Mr Oborne.

He includes that people who utilize unaccounted cash to place big bets will never ever bet lawfully.

Approval question

For sports betting gambling to be legalised, parliamentary approval will be needed to develop a new law, and politically this will be a hard idea to offer.

"Although lots of people are involved in some sort of gaming - it's still a questionable issue for numerous," states our unnamed punter.

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

"The process is so long and difficult 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 very first time, a minimum of a dispute has actually sparked around a subject - which previously was considered a taboo.