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Howzat? The clamour to legalise sports betting in India
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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 needing 17 runs to win versus Australia.
In his two-bedroom home located in main Mumbai, a middle-aged man is watching the video 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 30 minutes - not to go over the match however to keep revising his bet.
Five minutes previously his cash was on Australia, however now as the Indian batsman gets all set to deal with the last over he's changed his mind.
"I think India is winning, make the change," he tells his bookmaker on the phone.
And a few minutes later his forecast comes to life, as India wins the match in a nail-biting finish.
"I have actually made $200 today," he states with a childlike glee.
For more than 3 decades he's been wagering on cricket matches. We can't expose his name as what he's doing is unlawful in India.
Besides horse racing, sports betting of any kind is not enabled in India. Despite that, unlawful wagering syndicates thrive in the country.
'Black cash'
According to the Doha-based International Centre for sports betting Security, India's unlawful sports betting market is worth some $150bn a year. And much of that sports betting cash is directed towards cricket.
With no legal opportunity, punters put 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 individual run scorer.
Most of these transactions include so-called "black money", which is money not stated to the taxman.
The 1867 Public Gambling Act bars any sort of sports betting in India, but unlike in the US which has a law restricting web gambling, there is nothing comparable here.
And offshore wagering business are using this loophole to draw Indians. Although there are no online wagering operators based out of India, a lot individuals have actually registered accounts with overseas firms.
"Legally you can get away [with this], as the law is unclear for online gambling," states Mumbai- based lawyer HP Ranina.
But despite this, it is "offline sports betting", done through telephone call which control the marketplace.
Require legalisation
The clamour to legalise sports betting in cricket has actually grown after a panel appointed by India's Supreme Court proposed the idea, stating it would help clamp down on corruption in the nation's favourite sport.
The Justice RM Lodha Commission was established 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 wagering scandal emerged.
Two franchises have been banned for two years after some gamers and group officials were condemned of fixing parts of the match at the wish of bookmakers.
The panel also argues that legalised wagering will generate tax revenues for the exchequer that might total up to $2bn a year.
Even bettors feel that legalising sports betting wagering is a relocation in the ideal direction.
"I don't mind paying some money out my earnings, as long as I can bet publicly," says our cricket bettor.
It would likewise open a chance for certified bookmakers and global online wagering business to establish operations in India.
And it would assist restrict match fixing in cricket and other sports betting, argue many, by assisting make transactions associated with gambling more transparent.
"If you work together with sports betting business, you will have a very efficient technique of stamping out match fixing," states George Oborne, who runs a mock sports betting site, India Bet.
But lots of also think, that the taxes imposed on the bettor and the bookie will need to be reasonable to make it attractive enough for them to gamble legally.
However, there are limitations.
"Definitely there will be unlawful wagering due to the fact that (some) individuals would not want to leave an audit trail by entering the white market," states Mr Oborne.
He adds that people who utilize unaccounted money to position huge bets will never gamble lawfully.
Approval concern
For sports betting gambling to be legalised, parliamentary approval will be required to create a brand-new law, and politically this will be a difficult concept to offer.
"Although many people are involved in some sort of sports betting - it's still a questionable problem for many," says our unnamed punter.
And given that India has a federal structural - each state will need to also pass a separate law to legalise sports betting gambling in their territory.
"The process is so long and difficult that it will take years," states Mr Ranina."That's why, we are cynical about this coming true anytime quickly."
Yet with the concept having actually been backed by a main panel for the very first time, a minimum of a dispute has actually sparked around a topic - which previously was considered a taboo.
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