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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 reporter

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

In his two-bedroom house situated in central Mumbai, a middle-aged guy is seeing the video game, nervously. He's sitting on the edge of his grey colour couch with his smart phone glued to his ideal hand.

He has actually made more than 10 hire the last thirty minutes - not to talk about the match but to keep modifying his bet.

Five minutes previously his money was on Australia, now as the Indian batsman gets all set 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 couple of minutes later 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 banking on cricket matches. We can't reveal his name as what he's doing is illegal in India.

Other than horse racing, sports betting wagering of any kind is not enabled in India. Despite that, illegal wagering distributes grow in the country.

'Black cash'

According to the Doha-based International Centre for sports betting Security, India's prohibited sports betting wagering market is worth some $150bn a year. And much of that sports betting cash is directed towards cricket.

With no legal avenue, punters position bets using their phones by making calls to bookies. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest private run scorer.

The majority of these deals include so-called "black money", which is money not declared to the taxman.

The 1867 Public Gambling Act bars any kind of sports betting in India, but unlike in the US which has a law forbiding internet gaming, there is nothing similar here.

And offshore sports betting business are using this loophole to entice Indians. Although there are no online sports betting operators based out of India, a lot individuals have signed up accounts with overseas firms.

"Legally you can escape [with this], as the law is ambiguous for online gambling," says Mumbai- based attorney HP Ranina.

But in spite of this, it is "offline sports betting", done through telephone call which control the market.

Require legalisation

The clamour to legalise sports betting in cricket has actually grown after a panel selected by India's Supreme Court proposed the idea, saying it would help clamp down on corruption in the country's favourite sport.

The Justice RM Lodha Commission was established to recommend modifications in the functioning 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 two years after some gamers and team officials were discovered guilty of fixing parts of the match at the wish of bookmakers.

The panel likewise argues that legalised sports betting will generate tax earnings for the exchequer that could amount to $2bn a year.

Even gamblers feel that legalising sports betting is a move in the best instructions.

"I don't mind paying some cash out my earnings, as long as I can bet publicly," states our cricket gambler.

It would likewise open a substantial business chance for certified bookmakers and worldwide online sports betting business to set up operations in India.

And it would assist restrict match fixing in cricket and other sports betting, argue many, by assisting make deals associated with sports betting more transparent.

"If you work together with sports betting companies, you will have a very effective approach of stamping out match repairing," says George Oborne, who runs a mock sports betting website, India Bet.

But many likewise think, that the on the bettor and the bookie will have to be affordable to make it attractive enough for them to gamble legally.

However, there are constraints.

"Definitely there will be illegal sports betting since (some) people wouldn't wish to leave an audit path by entering the white market," states Mr Oborne.

He adds that individuals who use unaccounted money to position big bets will never gamble legally.

Approval question

For sports betting to be legalised, parliamentary approval will be required to develop a brand-new law, and politically this will be a tough idea to sell.

"Although many individuals are included in some sort of gaming - it's still a controversial problem for numerous," states our unnamed punter.

And offered that India has a federal structural - each state will need to also pass a separate law to legalise sports betting gambling in their territory.

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

Yet with the idea having actually been backed by an official panel for the first time, a minimum of an argument has actually fired up around a subject - which previously was considered a taboo.