Howzat? The clamour to legalise sports betting in India
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5 February 2016
By Sameer Hashmi
Mumbai Business reporter
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It is the last over of the cricket match, with India requiring 17 runs to win against Australia.
In his two-bedroom home situated in main Mumbai, a middle-aged male is watching the game, nervously. He's sitting on the edge of his grey colour sofa with his cellphone glued to his right-hand man.
He has actually made more than 10 calls in the last thirty minutes - not to go over the match however to keep modifying his bet.
Five minutes previously his money was on Australia, but now as the Indian batsman prepares yourself to face the last over he's changed his mind.
"I think India is winning, make the modification," he informs his bookie on the phone.
And a few minutes later on his prediction comes to life, as India wins the match in a nail-biting finish.
"I have made $200 today," he says with a childish glee.
For more than three decades he's been sports betting on cricket matches. We can't reveal his name as what he's doing is illegal in India.
Besides horse racing, sports betting of any kind is not allowed India. Despite that, prohibited sports betting distributes prosper in the nation.
'Black cash'
According to the Doha-based International Centre for sports betting Security, India's illegal sports betting wagering market is worth some $150bn a year. And much of that sports betting cash is directed towards cricket.
Without any legal avenue, punters place bets utilizing their phones by making calls to bookies. Gamblers can bet on anything related to the cricket match, from who is winning to the highest specific run scorer.
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Most of these deals include so-called "black cash", which is money not stated to the taxman.
The 1867 Public Gambling Act bars any sort of sports betting in India, but unlike in the US which has a law forbiding internet gambling, there is nothing similar here.
And overseas sports betting business are utilizing this loophole to lure Indians. Despite the fact that 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 ambiguous for online gaming," says Mumbai- based legal representative HP Ranina.
But in spite of this, it is "offline gaming", done through call which dominate the market.
Require 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 country's favourite sport.
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The Justice RM Lodha Commission was set up to suggest modifications 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 banned for 2 years after some gamers and team officials were discovered guilty of repairing parts of the match at the behest of bookies.
The panel likewise argues that legalised wagering will generate tax incomes for the exchequer that might amount to $2bn a year.
Even bettors feel that legalising sports betting wagering is a move in the right direction.
"I don't mind paying some cash out my earnings, as long as I can gamble publicly," says our cricket gambler.
It would likewise open a huge company opportunity for licensed bookies and global online wagering business to establish operations in India.
And it would help restrict match fixing in cricket and other sports betting, argue many, by helping make in sports betting more transparent.
"If you work along with sports betting companies, you will have an extremely efficient technique of marking out match repairing," states George Oborne, who runs a mock sports betting website, India Bet.
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But lots of also think, that the taxes imposed on the bettor and the bookmaker will have to be affordable to make it attractive enough for them to bet lawfully.
However, there are constraints.
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"Definitely there will be prohibited sports betting since (some) people would not desire to leave an audit trail by getting in the white market," states Mr Oborne.
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He includes that individuals who use unaccounted cash to position big bets will never ever bet legally.
Approval concern
For sports betting to be legalised, parliamentary approval will be needed to create a brand-new law, and politically this will be a hard idea to sell.
"Despite the fact that lots of people are involved in some sort of sports betting - it's still a questionable problem for many," says 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," states Mr Ranina."That's why, we are negative about this coming true anytime quickly."
Yet with the idea having actually been endorsed by an official panel for the very first time, at least a debate has ignited around a topic - which previously was considered a taboo.
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