Howzat? The clamour to legalise sports betting in India
5 February 2016
By Sameer Hashmi
Mumbai Business press reporter
It is the last over of the cricket match, with India needing 17 runs to win versus Australia.
In his two-bedroom house located in main Mumbai, a middle-aged male is enjoying the video game, nervously. He's sitting on the edge of his grey colour sofa with his cellphone glued to his right-hand man.
He has actually made more than 10 employ the last 30 minutes - not to talk about the match but to keep revising his bet.
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Five minutes earlier his cash was on Australia, today as the Indian batsman gets ready to face 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 few minutes later his prediction comes real, as India wins the match in a nail-biting finish.
"I have made $200 today," he states with a childlike glee.
For more than 3 decades he's been banking on cricket matches. We can't reveal his name as what he's doing is illegal in India.
Aside from horse racing, sports betting wagering of any kind is not enabled in India. Despite that, unlawful sports betting distributes prosper in the nation.
'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 money is directed towards cricket.
With no legal avenue, punters position bets using their phones by making calls to bookies. Gamblers can bank on anything associated to the cricket match, from who is winning to the greatest private run scorer.
Most of these transactions involve so-called "black cash", 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 forbiding internet gambling, there is absolutely nothing similar here.
And overseas sports betting business are utilizing this loophole to draw Indians. Despite the fact that there are no online sports betting operators based out of India, a lot people have registered accounts with overseas companies.
"Legally you can escape [with this], as the law is uncertain for online gaming," says Mumbai- based lawyer HP Ranina.
But despite this, it is "offline sports betting", done through call which dominate the marketplace.
Require legalisation
The clamour to legalise sports betting in cricket has grown after a panel selected by India's Supreme Court proposed the idea, stating it would help clamp down on corruption in the nation's preferred sport.
The Justice RM Lodha Commission was set up to recommend changes in the functioning 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.
Two franchises have been prohibited for two years after some gamers and team officials were condemned of repairing parts of the match at the behest of bookmakers.
The panel also argues that legalised wagering will bring in tax revenues for the exchequer that could total up to $2bn a year.
Even bettors feel that legalising sports betting is a relocation in the right direction.
"I do not mind paying some cash out my profits, as long as I can bet openly," states our cricket gambler.
It would also open a huge company chance for licensed bookmakers and international online sports betting business to set up operations in India.
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And it would help limit match repairing 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 companies, you will have a really effective method of marking out match fixing," says George Oborne, who runs a mock sports betting website, India Bet.
But numerous also believe, that the taxes levied on the bettor and the bookie will need to be sensible to make it attractive enough for them to bet legally.
However, there are limitations.
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"Definitely there will be prohibited sports betting because (some) individuals wouldn't desire to leave an audit trail by entering the white market," states Mr Oborne.
He adds that individuals who use unaccounted cash to put big bets will never gamble lawfully.
Approval question
For sports betting gambling to be legalised, parliamentary approval will be needed to produce a brand-new law, and politically this will be a to offer.
"Although many individuals are associated with some sort of gaming - it's still a questionable problem for numerous," says our unnamed punter.
And considered that India has a federal structural - each state will need to also pass a different law to legalise sports betting gambling in their area.
"The process is so long and difficult that it will take years," states Mr Ranina."That's why, we are cynical about this becoming a reality anytime quickly."
Yet with the idea having been backed by a main panel for the first time, a minimum of a debate has fired up around a topic - which until now was considered a taboo.
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For Sports Gambling to Be Legalised
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