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Howzat? The clamour to legalise sports betting in India
Published
5 February 2016
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By Sameer Hashmi
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Mumbai Business reporter
It is the last over of the cricket match, with India requiring 17 go to win against Australia.
In his two-bedroom home situated in central Mumbai, a middle-aged man is watching the video game, nervously. He's sitting on the edge of his grey colour couch with his cellphone glued to his right-hand man.
He has actually made more than 10 calls in the last thirty minutes - not to go over the match however to keep modifying his bet.
Five minutes previously his cash was on Australia, and now as the Indian batsman prepares to deal with the last over he's altered his mind.
"I believe India is winning, make the change," he tells his bookmaker on the phone.
And a couple of minutes later his forecast becomes a reality, as India wins the match in a nail-biting finish.
"I have made $200 today," he says with a childish glee.
For more than three decades he's been wagering on cricket matches. We can't expose his name as what he's doing is unlawful in India.
Besides horse racing, sports betting wagering of any kind is not permitted in India. Despite that, prohibited wagering syndicates flourish in the nation.
'Black money'
According to the Doha-based International Centre for sports betting Security, India's unlawful sports betting wagering market deserves some $150bn a year. And much of that sports betting cash is directed towards cricket.
With no legal opportunity, punters place bets using their phones by making calls to bookies. Gamblers can wager on anything related to the cricket match, from who is winning to the highest run scorer.
The majority of these deals include so-called "black money", which is money not stated to the taxman.
The 1867 Public Gambling Act bars any type of gaming in India, however unlike in the US which has a law restricting web sports betting, there is nothing comparable here.
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And overseas wagering companies are using this loophole to tempt Indians. Although there are no online sports betting operators based out of India, a lot individuals have signed up accounts with offshore companies.
"Legally you can get away [with this], as the law is ambiguous for online gambling," states Mumbai- based attorney HP Ranina.
But in spite of this, it is "offline gaming", done through call which dominate the market.
Calls for legalisation
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The clamour to legalise sports betting in cricket has grown after a panel appointed by India's Supreme Court proposed the concept, saying it would help secure down on corruption in the country's preferred sport.
The Justice RM Lodha Commission was established 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 wagering scandal came to light.
Two franchises have been prohibited for 2 years after some players and team officials were found guilty of fixing parts of the match at the behest of bookmakers.
The panel likewise argues that legalised wagering will generate tax revenues for the exchequer that might total up to $2bn a year.
Even bettors feel that legalising sports betting is a move in the right instructions.
"I don't mind paying some money out my profits, as long as I can bet openly," states our cricket bettor.
It would likewise open a big business opportunity for certified bookies and global online wagering companies to set up operations in India.
And it would help limit match fixing in cricket and other sports betting, argue many, by assisting make transactions associated with gambling more transparent.
"If you work along with wagering business, you will have a really reliable method of stamping out match repairing," states George Oborne, who runs a mock sports betting site, India Bet.
But lots of also think, that the taxes levied on the bettor and the bookmaker will need to be sensible to make it appealing enough for them to bet lawfully.
However, there are limitations.
"Definitely there will be illegal wagering since (some) people wouldn't desire to leave an audit path by going into the white market," states Mr Oborne.
He includes that people who utilize unaccounted money to place huge bets will never ever bet legally.
Approval concern
For sports betting to be legalised, parliamentary approval will be required to produce a new law, and politically this will be a tough concept to offer.
"Even however many individuals are included in some sort of sports betting - it's still a controversial concern for numerous," says our unnamed punter.
And provided that India has a federal structural - each state will need to also pass a separate law to legalise sports betting gambling in their area.
"The procedure is so long and tricky that it will take years," says Mr Ranina."That's why, we are cynical about this ending up being a truth anytime soon."
Yet with the concept having been endorsed by a main panel for the very first time, at least a dispute has actually fired up around a topic - which previously was considered a taboo.
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For Sports Gambling to Be Legalised
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