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Howzat? The clamour to legalise sports betting in India

Published

5 February 2016

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By Sameer Hashmi

Mumbai Business reporter

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

In his two-bedroom home situated in main Mumbai, a middle-aged man is watching the video game, nervously. He's resting on the edge of his grey colour couch with his smart phone glued to his right hand.

He has made more than 10 contact the last 30 minutes - not to discuss the match but to keep his bet.

Five minutes earlier his money was on Australia, and 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 bookmaker on the phone.

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

"I have actually made $200 today," he states with a childlike glee.

For more than 3 decades he's been banking on cricket matches. We can't reveal his name as what he's doing is prohibited in India.

Besides horse racing, sports betting of any kind is not allowed India. Despite that, prohibited wagering distributes 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.

With no legal opportunity, 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 individual run scorer.

Most of these deals involve so-called "black cash", which is money not declared to the taxman.

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

And offshore wagering companies are utilizing this loophole to draw Indians. Although there are no online wagering operators based out of India, a lot people have actually registered accounts with offshore firms.

"Legally you can escape [with this], as the law is unclear for online gaming," states Mumbai- based attorney HP Ranina.

But in spite of this, it is "offline sports betting", done through phone calls which control the marketplace.

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, saying it would help clamp down on corruption in the country's favourite sport.

The Justice RM Lodha Commission was set up to recommend changes in the functioning of India's cricket regulative 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 banned for two years after some gamers and group authorities were found guilty of repairing parts of the match at the wish of bookies.

The panel likewise argues that legalised sports betting 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 best instructions.

"I do not mind paying some cash out my profits, as long as I can bet publicly," states our cricket gambler.

It would also open a substantial service opportunity for certified bookies and global online sports betting companies 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 associated with gambling more transparent.

"If you work alongside wagering companies, you will have a really reliable technique of marking out match repairing," states George Oborne, who runs a mock wagering website, India Bet.

But many likewise think, that the taxes imposed on the bettor and the bookie will have to be sensible to make it appealing enough for them to bet legally.

However, there are restrictions.

"Definitely there will be unlawful wagering due to the fact that (some) people wouldn't wish to leave an audit path by entering the white market," states Mr Oborne.

He adds that individuals who utilize unaccounted cash to position big bets will never gamble legally.

Approval question

For sports betting to be legalised, parliamentary approval will be needed to create a new law, and politically this will be a difficult concept to offer.

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

And provided that India has a federal structural - each state will have to likewise pass a different law to legalise sports betting gambling in their territory.

"The process is so long and tricky that it will take years," says Mr Ranina."That's why, we are cynical about this becoming a reality anytime soon."

Yet with the idea having actually been backed by an official panel for the first time, at least a debate has actually ignited around a subject - which previously was considered a taboo.