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 home located in main Mumbai, a middle-aged male is seeing the game, nervously. He's resting on the edge of his grey colour sofa with his smart phone glued to his right-hand man.
He has made more than 10 employ the last thirty minutes - not to talk about the match but to keep modifying his bet.
Five minutes earlier his cash was on Australia, and now as the Indian batsman gets ready to deal with the last over he's changed his mind.
"I believe India is winning, make the modification," he tells his bookmaker on the phone.
And a couple of minutes later his prediction becomes a reality, as India wins the match in a nail-biting finish.
"I have made $200 today," he states with a childish glee.
For more than three decades 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 enabled in India. Despite that, prohibited wagering distributes thrive in the country.
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'Black cash'
According to the Doha-based International Centre for sports betting Security, India's unlawful sports betting market deserves some $150bn a year. And much of that gambling cash is directed towards cricket.
With no legal avenue, punters put bets using their phones by making calls to bookmakers. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest private run scorer.
Most of these deals include so-called "black money", which is money not declared to the taxman.
The 1867 Public Gambling Act bars any type of gaming in India, however unlike in the US which has a law restricting internet gaming, there is nothing similar here.
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And overseas sports betting business are using this loophole to lure Indians. Although there are no online wagering operators based out of India, a lot people have actually signed up accounts with overseas firms.
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"Legally you can get away [with this], as the law is ambiguous for online gaming," states Mumbai- based lawyer HP Ranina.
But despite this, it is "offline sports betting", done through telephone call which control the marketplace.
Calls for legalisation
The clamour to legalise wagering in cricket has grown after a panel appointed by India's Supreme Court proposed the concept, stating it would assist clamp down on corruption in the country's preferred sport.
The Justice RM Lodha Commission was established to recommend modifications in the performance of India's cricket regulatory body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League sports betting scandal emerged.
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Two franchises have actually been prohibited for two years after some and group authorities were condemned of repairing parts of the match at the wish of bookies.
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The panel also argues that legalised wagering will generate tax earnings for the exchequer that could amount to $2bn a year.
Even bettors feel that legalising sports betting wagering is a relocation in the best 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 substantial service opportunity for certified bookmakers and global online sports betting companies to set up operations in India.
And it would assist restrict match repairing in cricket and other sports betting, argue many, by helping make transactions involved in gambling more transparent.
"If you work alongside sports betting business, you will have an extremely effective technique of stamping out match fixing," says George Oborne, who runs a mock sports betting site, India Bet.
But lots of likewise think, that the taxes levied on the gambler and the bookmaker will need to be reasonable to make it appealing enough for them to gamble lawfully.
However, there are limitations.
"Definitely there will be unlawful wagering because (some) individuals wouldn't wish to leave an audit path by going into the white market," says Mr Oborne.
He adds that individuals who utilize unaccounted money to put huge bets will never gamble legally.
Approval concern
For sports betting gambling to be legalised, parliamentary approval will be needed to create a new law, and politically this will be a hard idea to sell.
"Although lots of people are involved in some sort of sports betting - it's still a controversial problem for lots of," 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 difficult that it will take years," says Mr Ranina."That's why, we are negative about this ending up being a truth anytime quickly."
Yet with the concept having actually been backed by a main panel for the very first time, at least a debate has ignited around a subject - which previously was considered a taboo.
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For Sports Gambling to Be Legalised
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