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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 needing 17 runs to win versus Australia.
In his two-bedroom home located in main Mumbai, a middle-aged guy is viewing the video game, nervously. He's resting on the edge of his grey colour sofa with his smart phone glued to his right-hand man.
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He has actually made more than 10 contact the last thirty minutes - not to go over the match but to keep modifying his bet.
Five minutes earlier his money was on Australia, now as the Indian batsman gets all set to deal with the last over he's altered his mind.
"I believe India is winning, make the modification," 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 surface.
"I have actually made $200 today," he states with a childish glee.
For more than 3 years he's been banking on cricket matches. We can't expose his name as what he's doing is illegal in India.
Other than horse racing, sports betting wagering of any kind is not allowed India. Despite that, unlawful wagering syndicates flourish 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 opportunity, punters put bets utilizing their phones by making calls to bookies. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest specific run scorer.
Most of these deals include so-called "black cash", which is money not declared to the taxman.
The 1867 Public Gambling Act bars any kind of gaming in India, but unlike in the US which has a law prohibiting web gambling, there is nothing similar here.
And overseas sports betting companies are utilizing this loophole to draw Indians. Even though there are no online sports betting operators based out of India, a lot people have actually signed up accounts with offshore firms.
"Legally you can get away [with this], as the law is unclear for online gambling," states Mumbai- based legal representative HP Ranina.
But regardless of this, it is "offline gambling", done through telephone call which dominate the market.
Calls for legalisation
The clamour to legalise sports betting in cricket has grown after a panel appointed by India's Supreme Court proposed the idea, stating it would assist clamp down on corruption in the nation's favourite sport.
The Justice RM Lodha Commission was established to suggest changes in the performance of India's cricket regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal emerged.
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Two franchises have been banned for two years after some gamers and group authorities were condemned of fixing parts of the match at the wish of bookmakers.
The panel also argues that legalised sports betting will generate tax revenues for the exchequer that could total up to $2bn a year.
Even bettors feel that legalising sports betting is a relocation in the right direction.
"I do not mind paying some money out my earnings, as long as I can gamble openly," says our cricket bettor.
It would likewise open a big company opportunity for certified bookmakers and global online sports betting business to set up operations in India.
And it would help limit match repairing in cricket and other sports betting, argue lots of, by helping make transactions associated with gambling more transparent.
"If you work along with sports betting companies, you will have a really reliable technique of stamping out match fixing," says George Oborne, who runs a mock wagering site, India Bet.
But numerous also think, that the taxes levied on the gambler and the bookie will have to be sensible to make it attractive enough for them to bet legally.
However, there are restrictions.
"Definitely there will be prohibited sports betting due to the fact that (some) individuals would not want to leave an audit path by getting in the white market," states Mr Oborne.
He includes that people who use unaccounted money to place big bets will never bet lawfully.
Approval question
For sports betting gambling to be legalised, parliamentary approval will be required to create a new law, and politically this will be a tough concept to sell.
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"Although lots of people are included in some sort of sports betting - it's still a questionable issue for lots of," says our unnamed punter.
And considered that India has a federal structural - each state will have to likewise pass a different law to legalise sports betting in their territory.
"The procedure 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 idea having been endorsed by a main panel for the very first time, at least an has actually ignited around a subject - which until now was thought about a taboo.
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For Sports Gambling to Be Legalised
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