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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 press reporter

It is the last over of the cricket match, with India requiring 17 runs to win against Australia.

In his two-bedroom home located in central Mumbai, a middle-aged guy is enjoying the video game, nervously. He's sitting on the edge of his grey colour couch with his mobile phone glued to his right-hand man.
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He has made more than 10 employ the last 30 minutes - not to go over the match but to keep revising his bet.

Five minutes previously his money was on Australia, now as the Indian batsman gets prepared to deal with the last over he's altered his mind.
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"I believe India is winning, make the modification," he informs his bookie on the phone.

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

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

For more than 3 decades he's been banking on cricket matches. We can't expose his name as what he's doing is illegal in India.
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Aside from horse racing, sports betting of any kind is not allowed in India. Despite that, illegal wagering distributes prosper in the country.

'Black cash'

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 gambling money is directed towards cricket.

Without any legal avenue, punters position bets utilizing their phones by making calls to bookmakers. Gamblers can wager on anything associated to the cricket match, from who is winning to the highest specific run scorer.

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

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

And overseas wagering business are using this loophole to tempt Indians. Although there are no online wagering operators based out of India, a lot individuals have actually registered accounts with overseas companies.

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

But despite this, it is "offline gaming", done through phone calls which the market.

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

The Justice RM Lodha Commission was set up 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 sports betting scandal came to light.

Two franchises have been prohibited for two years after some players and team officials were condemned of fixing parts of the match at the request of bookies.

The panel also 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 wagering is a move in the best direction.

"I do not mind paying some money out my earnings, as long as I can bet openly," states our cricket gambler.

It would also open a huge company chance for licensed bookmakers and international online wagering business to set up operations in India.

And it would help restrict match fixing in cricket and other sports betting, argue lots of, by helping make deals included in sports betting more transparent.

"If you work alongside sports betting business, you will have a very effective technique of marking out match repairing," states George Oborne, who runs a mock sports betting website, India Bet.

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

However, there are limitations.

"Definitely there will be unlawful wagering due to the fact that (some) individuals would not wish to leave an audit trail by going into the white market," says Mr Oborne.

He includes that individuals who use unaccounted cash to place huge bets will never gamble legally.

Approval concern

For sports betting gambling to be legalised, parliamentary approval will be needed to produce a new law, and politically this will be a difficult idea to sell.

"Even however lots of people are associated with some sort of gambling - it's still a questionable problem for many," states our unnamed punter.

And offered that India has a federal structural - each state will need to also pass a separate law to legalise sports betting gambling in their area.
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"The process is so long and tricky that it will take years," states Mr Ranina."That's why, we are cynical about this becoming a truth anytime quickly."

Yet with the concept having been endorsed by a main panel for the first time, a minimum of a debate has ignited around a topic - which until now was considered a taboo.