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Howzat? The clamour to legalise sports betting wagering in India
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5 February 2016
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By Sameer Hashmi
Mumbai Business reporter
It is the last over of the cricket match, with India needing 17 go to win versus Australia.
In his two-bedroom home situated in main Mumbai, a middle-aged guy is seeing the game, nervously. He's sitting on the edge of his grey colour couch with his mobile phone glued to his right-hand man.
He has made more than 10 contact the last 30 minutes - not to talk about the match however to keep modifying his bet.
Five minutes earlier his money was on Australia, however now as the Indian batsman prepares to deal with the last over he's changed his mind.
"I think India is winning, make the modification," he tells his bookie on the phone.
And a couple of minutes later his forecast becomes a reality, as India wins the match in a nail-biting surface.
"I have made $200 today," he says with a childlike glee.
For more than 3 years he's been banking on cricket matches. We can't expose his name as what he's doing is unlawful in India.
Other than horse racing, sports betting of any kind is not allowed India. Despite that, prohibited sports betting syndicates thrive in the nation.
'Black cash'
According to the Doha-based International Centre for sports betting Security, India's prohibited 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 using their phones by making calls to bookmakers. Gamblers can bank on anything related to the cricket match, from who is winning to the highest specific run scorer.
The majority of these transactions involve so-called "black cash", which is cash 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 restricting internet gambling, there is nothing comparable here.
And offshore sports betting business are using this loophole to entice Indians. Despite the fact that there are no online wagering operators based out of India, a lot individuals have registered accounts with overseas companies.
"Legally you can get away [with this], as the law is unclear for online gambling," states Mumbai- based legal representative HP Ranina.
But in spite of this, it is "offline sports betting", done through call which dominate the market.
Calls for legalisation
The clamour to legalise wagering in cricket has grown after a panel selected by India's Supreme Court proposed the concept, saying it would help clamp down on corruption in the country's favourite sport.
The Justice RM Lodha Commission was set up 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 sports betting scandal came to light.
Two franchises have actually been prohibited for two years after some gamers and group authorities were condemned of fixing parts of the match at the behest of bookmakers.
The panel likewise argues that legalised sports betting will bring in tax revenues for the exchequer that could amount to $2bn a year.
Even bettors feel that legalising sports betting is a move in the right instructions.
"I don't mind paying some money out my revenues, as long as I can bet publicly," states our cricket gambler.
It would likewise open a substantial organization opportunity for certified bookmakers and international online wagering business to set up operations in India.
And it would assist limit match repairing in and other sports betting, argue many, by helping make deals associated with gambling more transparent.
"If you work alongside sports betting business, you will have a very efficient technique of stamping out match fixing," states George Oborne, who runs a mock sports betting website, India Bet.
But numerous also believe, that the taxes imposed on the bettor and the bookmaker will have to be sensible to make it attractive enough for them to gamble legally.
However, there are restrictions.
"Definitely there will be unlawful sports betting due to the fact that (some) people would not wish to leave an audit path by entering the white market," states Mr Oborne.
He adds that people who utilize unaccounted money to place big bets will never gamble lawfully.
Approval question
For sports betting to be legalised, parliamentary approval will be needed to produce a brand-new law, and politically this will be a hard concept to offer.
"Even however lots of people are associated with some sort of gaming - it's still a questionable issue for numerous," says our unnamed punter.
And considered that India has a federal structural - each state will have to also pass a separate law to legalise sports betting gambling in their area.
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"The procedure is so long and tricky that it will take years," states Mr Ranina."That's why, we are cynical about this ending up being a reality anytime soon."
Yet with the idea having actually been backed by an official panel for the very first time, at least a dispute has ignited around a topic - which previously was considered a taboo.
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