Howzat? The clamour to legalise sports betting in India
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 runs to win against Australia.
In his two-bedroom home located in central Mumbai, a middle-aged guy is enjoying the video game, nervously. He's resting on the edge of his grey colour couch with his smart phone glued to his right hand.
He has actually made more than 10 contact the last thirty minutes - not to talk about the match however to keep revising his bet.
Five minutes previously his cash was on Australia, today as the Indian batsman gets all set to deal with the last over he's altered his mind.
"I think 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 illegal in India.
Aside from horse racing, sports betting wagering of any kind is not allowed in India. Despite that, illegal wagering syndicates thrive in the nation.
'Black cash'
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.
Without any legal opportunity, punters place bets utilizing their phones by making calls to bookies. Gamblers can bet on anything related to the cricket match, from who is winning to the greatest specific run scorer.
Most of these transactions involve so-called "black money", which is money not stated to the taxman.
The 1867 Act bars any sort of sports betting in India, but unlike in the US which has a law prohibiting web gambling, there is absolutely nothing similar here.
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And overseas sports betting business are using this loophole to tempt Indians. Even though there are no online sports betting operators based out of India, a lot people have signed up accounts with overseas companies.
"Legally you can escape [with this], as the law is uncertain for online sports betting," states Mumbai- based lawyer HP Ranina.
But despite this, it is "offline gaming", done through telephone call which dominate 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 nation's favourite sport.
The Justice RM Lodha Commission was set up to recommend modifications in the performance 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 been prohibited for 2 years after some players and team officials were condemned of fixing parts of the match at the request of bookmakers.
The panel also argues that legalised sports betting will bring in tax revenues for the exchequer that might amount to $2bn a year.
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Even bettors feel that legalising sports betting wagering is a relocation in the best direction.
"I do not mind paying some cash out my revenues, as long as I can gamble publicly," says our cricket gambler.
It would likewise open a big service chance for certified bookies and global online wagering companies to set up operations in India.
And it would assist limit match repairing in cricket and other sports betting, argue numerous, by assisting make deals associated with gambling more transparent.
"If you work together with wagering business, you will have a really effective approach of marking out match repairing," says George Oborne, who runs a mock sports betting site, India Bet.
But many also think, that the taxes levied on the gambler and the bookie will have to be reasonable to make it appealing enough for them to bet lawfully.
However, there are limitations.
"Definitely there will be unlawful wagering because (some) individuals would not desire to leave an audit trail by entering the white market," states Mr Oborne.
He includes that individuals who use unaccounted cash to put huge bets will never bet legally.
Approval concern
For sports betting gambling to be legalised, parliamentary approval will be needed to create a brand-new law, and politically this will be a difficult concept to sell.
"Despite the fact that many individuals are associated with some sort of gambling - it's still a questionable concern for numerous," states our unnamed punter.
And considered that India has a federal structural - each state will have to also pass a different law to legalise sports betting in their territory.
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"The procedure is so long and challenging that it will take years," states Mr Ranina."That's why, we are cynical about this coming true anytime soon."
Yet with the concept having actually been backed by a main panel for the very first time, a minimum of an argument has actually fired up around a topic - which previously was considered a taboo.
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For Sports Gambling to Be Legalised
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