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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 press reporter
It is the last over of the cricket match, with India requiring 17 runs to win versus Australia.
In his two-bedroom home situated in central Mumbai, a middle-aged male is viewing 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 calls in the last thirty minutes - not to discuss the match but to keep modifying his bet.
Five minutes earlier his money was on Australia, now as the Indian batsman prepares to deal with the last over he's altered his mind.
"I believe India is winning, make the change," he informs his bookmaker on the phone.
And a couple of minutes later on his prediction comes to life, as India wins the match in a nail-biting surface.
"I have actually made $200 today," he states with a childish glee.
For more than 3 years he's been wagering on cricket matches. We can't reveal his name as what he's doing is unlawful in India.
Aside from horse racing, sports betting wagering of any kind is not allowed India. Despite that, illegal sports betting distributes prosper in the nation.
'Black money'
According to the Doha-based International Centre for sports betting Security, India's prohibited sports betting wagering market is worth some $150bn a year. And much of that gambling money is directed towards cricket.
With no legal avenue, punters place 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 greatest specific run scorer.
The majority of these transactions include so-called "black cash", which is cash not stated to the taxman.
The 1867 Public Gambling Act bars any kind of gaming in India, but unlike in the US which has a law prohibiting internet gambling, there is absolutely nothing similar here.
And overseas sports betting companies are using this loophole to entice Indians. Although there are no online sports betting operators based out of India, a lot people have actually registered accounts with offshore companies.
"Legally you can escape [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 call which control the market.
Calls for legalisation
The clamour to legalise sports betting in cricket has grown after a panel appointed by India's Supreme Court proposed the concept, saying it would help clamp down on corruption in the country's preferred 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 sports betting scandal came to light.
Two franchises have actually been banned for two years after some gamers and group authorities were condemned of fixing parts of the match at the behest of bookies.
The panel also argues that legalised sports betting will generate tax incomes for the exchequer that might amount to $2bn a year.
Even bettors feel that legalising sports betting is a move in the best instructions.
"I don't mind paying some money out my profits, as long as I can bet openly," states our cricket gambler.
It would likewise open a huge company chance for certified bookmakers and international online sports betting companies to set up operations in India.
And it would assist limit match fixing in cricket and other sports betting, argue lots of, by assisting make transactions associated with gambling more transparent.
"If you work together with wagering business, you will have a very reliable approach of stamping out match repairing," says George Oborne, who runs a mock wagering website, India Bet.
But numerous likewise believe, that the taxes levied on the gambler and the bookie will need to be affordable to make it attractive enough for them to gamble legally.
However, there are limitations.
"Definitely there will be prohibited sports betting due to the fact that (some) people wouldn't desire to leave an audit path by going into the white market," says Mr Oborne.
He adds that people who use unaccounted money to place big bets will never gamble lawfully.
Approval question
For sports betting gambling to be legalised, parliamentary approval will be required to create a brand-new law, and politically this will be a to sell.
"Despite the fact that many individuals are associated with some sort of gaming - it's still a questionable problem for many," states our unnamed punter.
And provided that India has a federal structural - each state will have to likewise pass a different law to legalise sports betting in their territory.
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"The process is so long and challenging that it will take years," says Mr Ranina."That's why, we are negative about this coming true anytime soon."
Yet with the idea having actually been endorsed by an official panel for the very first time, a minimum of a debate has sparked around a topic - which previously was thought about a taboo.
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