Howzat? The clamour to legalise sports betting wagering in India
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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 needing 17 go to win versus Australia.
In his two-bedroom home located in central Mumbai, a middle-aged man is viewing the game, nervously. He's sitting on the edge of his grey colour couch with his cellphone glued to his ideal hand.
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He has actually made more than 10 hire the last 30 minutes - not to go over the match but to keep modifying his bet.
Five minutes previously his money was on Australia, and now as the Indian batsman prepares to deal with the last over he's changed his mind.
"I think India is winning, make the change," he tells his bookie on the phone.
And a couple of minutes later his comes true, as India wins the match in a nail-biting finish.
"I have actually made $200 today," he says with a childish glee.
For more than three decades he's been sports betting 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, prohibited sports betting syndicates grow in the nation.
'Black cash'
According to the Doha-based International Centre for sports betting Security, India's prohibited sports betting wagering market deserves some $150bn a year. And much of that sports betting money is directed towards cricket.
Without any legal avenue, punters place bets utilizing their phones by making calls to bookies. Gamblers can bank on anything related to the cricket match, from who is winning to the highest private run scorer.
Most of these deals involve so-called "black money", which is cash not stated to the taxman.
The 1867 Public Gambling Act bars any type of gaming in India, but unlike in the US which has a law prohibiting internet gaming, there is nothing comparable here.
And offshore sports betting business are utilizing this loophole to lure Indians. Even though there are no online wagering operators based out of India, a lot individuals have actually signed up accounts with offshore firms.
"Legally you can get away [with this], as the law is uncertain for online gambling," states Mumbai- based attorney HP Ranina.
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But in spite of this, it is "offline gambling", done through phone calls which control the market.
Require legalisation
The clamour to legalise sports betting in cricket has grown after a panel selected by India's Supreme Court proposed the concept, saying it would assist secure down on corruption in the country's favourite sport.
The Justice RM Lodha Commission was set up to recommend changes in the performance of India's cricket regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal came to light.
Two franchises have been banned for two years after some gamers and group authorities were condemned of repairing parts of the match at the request of bookies.
The panel also argues that legalised sports betting will bring in tax incomes for the exchequer that could total up to $2bn a year.
Even gamblers feel that legalising sports betting wagering is a move in the best direction.
"I don't mind paying some cash out my earnings, as long as I can gamble openly," says our cricket bettor.
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It would likewise open a huge business opportunity for certified bookies and international online wagering business to set up operations in India.
And it would assist limit 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 business, you will have a really efficient approach of marking out match repairing," states George Oborne, who runs a mock sports betting site, India Bet.
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But many likewise think, that the taxes imposed on the gambler and the bookie will need to be affordable to make it appealing enough for them to gamble legally.
However, there are limitations.
"Definitely there will be prohibited sports betting since (some) people wouldn't want to leave an audit path by entering the white market," states Mr Oborne.
He adds that individuals who utilize unaccounted cash to place big bets will never gamble lawfully.
Approval concern
For sports betting to be legalised, parliamentary approval will be required to produce a new law, and politically this will be a tough concept to sell.
"Even though lots of people are included in some sort of gaming - it's still a questionable concern for many," says our unnamed punter.
And provided that India has a federal structural - each state will have to also pass a separate law to legalise sports betting in their territory.
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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 truth anytime soon."
Yet with the idea having actually been backed by an official panel for the very first time, at least a dispute has fired up around a topic - which previously was thought about a taboo.
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For Sports Gambling to Be Legalised
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