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Howzat? The clamour to legalise sports betting wagering in India

5 February 2016

By Sameer Hashmi
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Mumbai Business reporter

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

In his two-bedroom home located in central Mumbai, a middle-aged guy is enjoying the video game, nervously. He's sitting on the edge of his grey colour couch with his cellphone glued to his right-hand man.

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

Five minutes earlier his cash was on Australia, and now as the Indian batsman gets ready to face the last over he's his mind.
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"I believe India is winning, make the modification," he informs his bookie on the phone.

And a couple of minutes later on his forecast becomes a reality, as India wins the match in a nail-biting finish.

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

For more than three years he's been banking 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 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 position bets utilizing 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 transactions include so-called "black money", which is money not stated 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 restricting internet gambling, there is absolutely nothing similar here.
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And overseas wagering business are using this loophole to tempt Indians. Although there are no online sports betting operators based out of India, a lot people have actually signed up accounts with overseas firms.

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

But in spite of this, it is "offline gaming", done through telephone call which control the marketplace.

Require legalisation

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

The Justice RM Lodha Commission was set up to recommend modifications in the functioning of India's cricket regulatory 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 players and team officials were condemned of fixing parts of the match at the wish of bookmakers.
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The panel also argues that legalised sports betting will bring in tax earnings for the exchequer that might amount to $2bn a year.

Even bettors feel that legalising sports betting is a move in the right direction.

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

It would also open a huge service 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 many, by helping make deals associated with gambling more transparent.

"If you work together with sports betting companies, you will have a really reliable approach of stamping out match fixing," states George Oborne, who runs a mock wagering site, India Bet.

But numerous likewise believe, that the taxes levied on the bettor and the bookmaker will need to be sensible to make it appealing enough for them to gamble lawfully.

However, there are limitations.

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

He includes that individuals who utilize unaccounted money to place huge bets will never ever gamble lawfully.

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 gaming - it's still a controversial concern for lots of," states our unnamed punter.

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

"The process is so long and difficult that it will take years," states Mr Ranina."That's why, we are negative about this ending up being a reality anytime quickly."

Yet with the concept having been backed by an official panel for the very first time, a minimum of an argument has actually ignited around a subject - which up until now was thought about a taboo.