Howzat? The clamour to legalise sports betting 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 against Australia.
In his two-bedroom house situated in main Mumbai, a middle-aged man is seeing the video game, nervously. He's resting on the edge of his grey colour sofa with his smart phone glued to his best hand.
He has actually made more than 10 contact the last thirty minutes - not to go over the match however to keep modifying his bet.
Five minutes previously his money was on Australia, now 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 couple of minutes later on his prediction becomes a reality, as India wins the match in a nail-biting surface.
"I have actually made $200 today," he says with a childish glee.
For more than three decades he's been wagering on cricket matches. We can't reveal his name as what he's doing is prohibited in India.
Other than horse racing, sports betting 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 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 bookmakers. Gamblers can bet 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 money not declared to the taxman.
The 1867 Public Gambling Act bars any kind of sports betting in India, however unlike in the US which has a law prohibiting internet gambling, there is nothing similar here.
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And overseas sports betting business are utilizing this loophole to entice Indians. Even though there are no online wagering operators based out of India, a lot individuals have actually registered accounts with overseas companies.
"Legally you can escape [with this], as the law is unclear for online gaming," states Mumbai- based legal representative HP Ranina.
But despite this, it is "offline gaming", done through call which dominate the marketplace.
Calls for legalisation
The clamour to legalise sports betting in cricket has actually grown after a panel appointed by India's Supreme Court proposed the idea, stating it would help secure down on corruption in the nation's favourite sport.
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The Justice RM Lodha Commission was established to suggest 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 sports betting scandal emerged.
Two franchises have been banned for two years after some gamers and group officials were condemned of repairing parts of the match at the behest of bookmakers.
The panel also argues that legalised sports betting will generate tax incomes for the exchequer that might amount to $2bn a year.
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Even bettors feel that legalising sports betting wagering is a move in the right instructions.
"I don't mind paying some cash out my earnings, as long as I can gamble publicly," states our cricket gambler.
It would also open a big organization opportunity for licensed bookmakers and global online wagering companies to establish operations in India.
And it would assist limit match fixing in cricket and other sports betting, argue lots of, by helping make deals associated with more transparent.
"If you work together with wagering companies, you will have a really effective method of stamping out match fixing," says George Oborne, who runs a mock wagering site, India Bet.
But many also think, that the taxes levied on the bettor and the bookmaker will have to be reasonable to make it attractive enough for them to bet legally.
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However, there are restrictions.
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"Definitely there will be illegal sports betting because (some) people wouldn't want to leave an audit trail by entering the white market," says Mr Oborne.
He includes that individuals who utilize unaccounted cash to place big bets will never bet lawfully.
Approval concern
For sports betting to be legalised, parliamentary approval will be needed to develop a new law, and politically this will be a difficult concept to sell.
"Although many individuals are associated with some sort of sports betting - it's still a questionable problem for numerous," 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 process 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 actually been endorsed by a main panel for the very first time, a minimum of a dispute has actually sparked around a subject - which previously was thought about a taboo.
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For Sports Gambling to Be Legalised
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