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 needing 17 runs to win versus Australia.
In his two-bedroom house situated in central Mumbai, a middle-aged male is enjoying the video game, nervously. He's sitting on the edge of his grey colour sofa with his mobile phone glued to his right-hand man.
He has made more than 10 contact the last thirty minutes - not to talk about the match but to keep revising his bet.
Five minutes earlier his cash was on Australia, and now as the Indian batsman prepares to face the last over he's altered his mind.
"I think India is winning, make the change," he informs his bookie on the phone.
And a couple of minutes later his forecast comes to life, as India wins the match in a nail-biting finish.
"I have made $200 today," he states with a childish glee.
For more than 3 years he's been banking on cricket matches. We can't reveal his name as what he's doing is unlawful in India.
Other than horse racing, sports betting wagering of any kind is not allowed India. Despite that, unlawful sports betting syndicates thrive in the country.
'Black money'
According to the Doha-based International Centre for sports betting Security, India's illegal sports betting market deserves some $150bn a year. And much of that sports betting money is directed towards cricket.
Without any legal avenue, punters put bets using their phones by making calls to bookmakers. Gamblers can bank on anything related to the cricket match, from who is winning to the highest private run scorer.
Most of these transactions include so-called "black cash", which is money not declared to the taxman.
The 1867 Public Gambling Act bars any type of gambling in India, but unlike in the US which has a law prohibiting internet sports betting, there is absolutely nothing comparable here.
And overseas sports betting companies 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 firms.
"Legally you can get away [with this], as the law is unclear for online gambling," says Mumbai- based legal representative HP Ranina.
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But in spite of this, it is "offline gambling", done through call which dominate the market.
Require legalisation
The clamour to legalise sports betting in cricket has actually grown after a panel designated by India's Supreme Court proposed the concept, stating it would help secure down on corruption in the country's favourite sport.
The Justice RM Lodha Commission was established to suggest modifications in the functioning of India's cricket regulatory body, the Board of Control for in India (BCCI), after the 2013 Indian Premier League sports betting scandal emerged.
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 wish of bookmakers.
The panel likewise argues that legalised sports betting will bring in tax profits for the exchequer that could total up to $2bn a year.
Even gamblers feel that legalising sports betting is a move in the right instructions.
"I do not mind paying some money out my profits, as long as I can gamble openly," states our cricket gambler.
It would also open a substantial service opportunity for certified bookmakers and international online sports betting business to establish operations in India.
And it would assist limit match repairing in cricket and other sports betting, argue lots of, by assisting make transactions associated with gambling more transparent.
"If you work along with wagering business, you will have a really efficient approach of stamping out match repairing," states George Oborne, who runs a mock sports betting website, India Bet.
But numerous also believe, that the taxes levied on the bettor and the bookie will need to be reasonable to make it appealing enough for them to bet lawfully.
However, there are limitations.
"Definitely there will be unlawful sports betting due to the fact that (some) people wouldn't wish to leave an audit trail by entering the white market," says Mr Oborne.
He includes that people who use unaccounted cash to position big bets will never ever bet legally.
Approval question
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For sports betting to be legalised, parliamentary approval will be needed to develop a brand-new law, and politically this will be a difficult concept to sell.
"Even however lots of people are associated with some sort of sports betting - it's still a questionable concern for numerous," states our unnamed punter.
And considered that India has a federal structural - each state will have to also pass a separate law to legalise sports betting in their territory.
"The procedure is so long and difficult that it will take years," states Mr Ranina."That's why, we are cynical about this becoming a reality anytime soon."
Yet with the idea having been backed by a main panel for the first time, a minimum of an argument has actually fired up around a subject - which till now was considered a taboo.
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For Sports Gambling to Be Legalised
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