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Howzat? The clamour to legalise sports betting in India
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 go to win against Australia.
In his two-bedroom house situated in central Mumbai, a middle-aged man is enjoying 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 actually made more than 10 contact the last thirty minutes - not to go over the match but to keep revising his bet.
Five minutes earlier his cash was on Australia, now as the Indian batsman prepares yourself to face the last over he's changed his mind.
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"I believe India is winning, make the modification," he tells his bookmaker on the phone.
And a few minutes later on his forecast comes true, as India wins the match in a nail-biting finish.
"I have made $200 today," he says with a childish glee.
For more than three years he's been wagering on cricket matches. We can't expose his name as what he's doing is illegal in India.
Besides horse racing, sports betting of any kind is not allowed India. Despite that, illegal wagering distributes thrive in the nation.
'Black money'
According to the Doha-based International Centre for sports betting Security, India's unlawful sports betting market deserves some $150bn a year. And much of that sports betting money is directed towards cricket.
Without any legal avenue, punters position bets utilizing their phones by making calls to bookmakers. Gamblers can wager on anything associated to the cricket match, from who is winning to the highest specific 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 sort of gaming in India, but unlike in the US which has a law forbiding internet gaming, there is absolutely nothing comparable here.
And overseas sports betting business are using this loophole to draw Indians. Despite the fact that there are no online sports betting 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 gaming," says Mumbai- based lawyer HP Ranina.
But despite this, it is "offline sports betting", done through phone calls which control the marketplace.
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Calls for legalisation
The clamour to legalise sports betting in cricket has actually grown after a panel selected by India's Supreme Court proposed the concept, saying it would assist clamp down on corruption in the country's favourite sport.
The Justice RM Lodha Commission was set up to suggest 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 came to light.
Two franchises have been prohibited for 2 years after some players and group authorities were discovered guilty of repairing parts of the match at the behest of bookmakers.
The panel likewise argues that legalised wagering will generate tax earnings for the exchequer that might amount to $2bn a year.
Even gamblers feel that legalising sports betting is a relocation in the right instructions.
"I don't mind paying some money out my profits, as long as I can gamble publicly," says our cricket bettor.
It would likewise open a substantial company chance for certified bookies and international online wagering companies to establish operations in India.
And it would assist restrict match repairing in cricket and other sports betting, argue many, by assisting make deals included in more transparent.
"If you work together with wagering companies, you will have an extremely reliable approach of stamping out match fixing," states George Oborne, who runs a mock sports betting site, India Bet.
But lots of also believe, that the taxes levied on the gambler and the bookie will have to be affordable to make it attractive enough for them to gamble legally.
However, there are limitations.
"Definitely there will be prohibited sports betting because (some) people wouldn't want to leave an audit path by entering the white market," states Mr Oborne.
He includes that people who use unaccounted cash to position huge bets will never bet lawfully.
Approval concern
For sports betting to be legalised, parliamentary approval will be required to create a new law, and politically this will be a difficult idea to offer.
"Although lots of people are included in some sort of sports betting - it's still a controversial problem for many," says our unnamed punter.
And considered that India has a federal structural - each state will have to also pass a separate law to legalise sports betting in their area.
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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 ending up being a truth anytime soon."
Yet with the idea having actually been backed by an official panel for the very first time, a minimum of an argument has actually sparked around a subject - which previously was thought about a taboo.
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sylvesterv914 edited this page 2025-01-02 09:41:08 +00:00