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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 go to win versus Australia.
In his two-bedroom house situated in main Mumbai, a middle-aged guy is seeing the game, nervously. He's 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 go over the match but to keep modifying his bet.
Five minutes earlier his cash was on Australia, today as the Indian batsman prepares yourself to deal with the last over he's changed his mind.
"I believe India is winning, make the modification," he tells his bookie on the phone.
And a few minutes later on his prediction becomes a reality, as India wins the match in a nail-biting finish.
"I have actually made $200 today," he states with a childlike glee.
For more than 3 decades he's been wagering on cricket matches. We can't expose his name as what he's doing is illegal in India.
Besides horse racing, sports betting of any kind is not enabled in India. Despite that, prohibited wagering syndicates prosper in the nation.
'Black money'
According to the Doha-based International Centre for sports betting Security, India's prohibited sports betting wagering market deserves some $150bn a year. And much of that gambling cash is directed towards cricket.
Without any legal avenue, punters place bets using their phones by making calls to bookmakers. Gamblers can bank on anything associated to the cricket match, from who is winning to the greatest specific run scorer.
The majority of these transactions involve so-called "black money", which is cash not declared to the taxman.
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The 1867 Public Gambling Act bars any kind of gambling in India, however unlike in the US which has a law prohibiting web 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 signed up accounts with offshore companies.
"Legally you can get away [with this], as the law is uncertain for online sports betting," states Mumbai- based legal representative HP Ranina.
But regardless of this, it is "offline gaming", done through telephone call which dominate the marketplace.
Require legalisation
The clamour to legalise sports betting in cricket has grown after a panel selected by India's Supreme Court proposed the idea, stating it would help secure down on corruption in the country's preferred 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.
Two franchises have been prohibited for 2 years after some gamers and group authorities were discovered guilty of repairing parts of the match at the wish of bookmakers.
The panel also argues that legalised wagering will bring in tax profits for the exchequer that could amount to $2bn a year.
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Even bettors feel that legalising sports betting is a relocation in the ideal instructions.
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"I do not mind paying some money out my profits, as long as I can bet publicly," states our cricket gambler.
It would likewise open a huge organization opportunity for certified bookmakers and worldwide online sports betting companies to set up operations in India.
And it would help restrict match repairing in cricket and other sports betting, argue numerous, by helping make transactions associated with gambling more transparent.
"If you work alongside wagering business, you will have a very effective method of marking out match fixing," says George Oborne, who runs a mock wagering site, India Bet.
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But numerous also think, that the taxes levied on the bettor and the bookmaker will need to be sensible to make it attractive enough for them to bet lawfully.
However, there are limitations.
"Definitely there will be prohibited wagering due to the fact that (some) individuals would not desire to leave an audit trail by entering the white market," says Mr Oborne.
He adds that people who use unaccounted cash to place big bets will never bet legally.
Approval question
For sports betting gambling to be legalised, parliamentary approval will be needed to create a new law, and politically this will be a tough concept to sell.
"Even however many individuals are associated with some sort of sports betting - it's still a questionable concern for many," states our unnamed punter.
And offered that India has a federal structural - each state will need to also pass a different law to legalise sports betting gambling in their area.
"The process is so long and difficult that it will take years," says Mr Ranina."That's why, we are cynical about this becoming a reality anytime soon."
Yet with the concept having actually been backed by an official panel for the first time, a minimum of a dispute has actually sparked around a topic - which previously was thought about a taboo.
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For Sports Gambling to Be Legalised
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