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 press reporter
It is the last over of the cricket match, with India requiring 17 runs to win against Australia.
In his two-bedroom house located in main Mumbai, a middle-aged man is watching the game, nervously. He's sitting on the edge of his grey colour sofa with his cellphone glued to his right-hand man.
He has made more than 10 employ the last 30 minutes - not to discuss the match however to keep revising his bet.
Five minutes earlier his money was on Australia, however now as the Indian batsman prepares yourself to face the last over he's altered his mind.
"I think India is winning, make the change," he tells his bookie on the phone.
And a couple of minutes later his prediction comes real, as India wins the match in a nail-biting finish.
"I have actually made $200 today," he says with a childish glee.
For more than 3 decades he's been sports betting on cricket matches. We can't reveal his name as what he's doing is illegal in India.
Besides horse racing, sports betting of any kind is not allowed in India. Despite that, unlawful wagering syndicates flourish in the country.
'Black cash'
According to the Doha-based International Centre for sports betting Security, India's illegal sports betting wagering market is worth some $150bn a year. And much of that gambling cash is directed towards cricket.
With no legal opportunity, punters position bets using their phones by making calls to bookmakers. Gamblers can wager on anything associated to the cricket match, from who is winning to the greatest private run scorer.
The majority of these deals involve so-called "black cash", which is cash not stated to the taxman.
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The 1867 Public Gambling Act bars any kind of sports betting in India, but unlike in the US which has a law restricting web sports betting, there is absolutely nothing similar here.
And overseas wagering companies are using this loophole to tempt Indians. Despite the fact that there are no online wagering operators based out of India, a lot people have signed up accounts with offshore companies.
"Legally you can escape [with this], as the law is unclear for online gaming," says Mumbai- based legal representative HP Ranina.
But regardless of this, it is "offline gambling", done through call which control the marketplace.
Calls for legalisation
The clamour to legalise sports betting in cricket has actually grown after a panel appointed by India's Supreme Court proposed the concept, saying it would assist clamp down on corruption in the country's preferred sport.
The Justice RM Lodha Commission was established to suggest changes 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 came to light.
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Two franchises have been banned for 2 years after some players and team officials were condemned of fixing parts of the match at the behest of bookmakers.
The panel also argues that legalised sports betting will bring in tax earnings for the exchequer that might amount to $2bn a year.
Even gamblers feel that legalising sports betting wagering is a relocation in the best instructions.
"I do not mind paying some cash out my profits, as long as I can gamble openly," says our cricket gambler.
It would likewise open a big organization opportunity for licensed bookies and worldwide online wagering business to set up operations in India.
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And it would help restrict match repairing in cricket and other sports betting, argue numerous, by assisting make transactions included in sports betting more transparent.
"If you work together with sports betting companies, you will have an extremely effective technique of marking out match fixing," states George Oborne, who runs a mock wagering website, India Bet.
But lots of likewise think, that the taxes on the bettor and the bookie will need to be reasonable to make it appealing enough for them to gamble legally.
However, there are restrictions.
"Definitely there will be prohibited wagering since (some) people wouldn't desire to leave an audit trail by going into the white market," says Mr Oborne.
He adds that individuals who use unaccounted money to position big bets will never ever gamble legally.
Approval question
For sports betting to be legalised, parliamentary approval will be needed to develop a brand-new law, and politically this will be a hard idea to offer.
"Although lots of people are included in some sort of sports betting - it's still a controversial problem for many," states our unnamed punter.
And considered that India has a federal structural - each state will have to likewise pass a separate law to legalise sports betting in their territory.
"The process is so long and challenging that it will take years," says Mr Ranina."That's why, we are cynical about this coming true anytime quickly."
Yet with the concept having been endorsed by an official panel for the very first time, a minimum of a dispute has ignited around a topic - which up until now was considered a taboo.
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For Sports Gambling to Be Legalised
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