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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 reporter
It is the last over of the cricket match, with India needing 17 go to win versus Australia.
In his two-bedroom house located in main Mumbai, a middle-aged male is viewing the video game, nervously. He's sitting on the edge of his grey colour couch with his mobile phone glued to his right-hand man.
He has made more than 10 hire 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 deal with the last over he's altered his mind.
"I believe India is winning, make the change," he informs his bookie on the phone.
And a couple of minutes later his prediction comes to life, as India wins the match in a nail-biting surface.
"I have actually made $200 today," he says with a childish glee.
For more than three years he's been sports betting on cricket matches. We can't expose his name as what he's doing is prohibited in India.
Other than horse racing, sports betting wagering of any kind is not allowed in India. Despite that, illegal wagering syndicates flourish in the nation.
'Black cash'
According to the Centre for sports betting Security, India's unlawful sports betting market is worth some $150bn a year. And much of that sports betting money is directed towards cricket.
Without any legal opportunity, punters put 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 highest individual run scorer.
Most of these deals include so-called "black cash", which is cash not stated to the taxman.
The 1867 Public Gambling Act bars any kind of gambling in India, but unlike in the US which has a law prohibiting web gaming, there is nothing similar here.
And overseas wagering 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 registered accounts with offshore companies.
"Legally you can get away [with this], as the law is uncertain for online gaming," states Mumbai- based attorney HP Ranina.
But in spite of this, it is "offline gaming", done through telephone call which dominate 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 idea, stating it would help clamp down on corruption in the nation's favourite sport.
The Justice RM Lodha Commission was established to recommend modifications in the performance 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 been banned for two years after some players and team officials were found guilty of repairing parts of the match at the wish of bookmakers.
The panel also argues that legalised sports betting will bring in tax revenues for the exchequer that might total up to $2bn a year.
Even bettors feel that legalising sports betting is a move in the best direction.
"I do not mind paying some money out my earnings, as long as I can bet openly," states our cricket bettor.
It would likewise open a substantial business opportunity for licensed bookmakers and international online wagering business to set up operations in India.
And it would assist restrict match fixing in cricket and other sports betting, argue numerous, by helping make transactions associated with gambling more transparent.
"If you work along with wagering companies, you will have an extremely efficient approach of stamping out match repairing," states George Oborne, who runs a mock wagering website, India Bet.
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But lots of 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 lawfully.
However, there are restrictions.
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"Definitely there will be prohibited wagering due to the fact that (some) people would not wish to leave an audit trail by entering the white market," says Mr Oborne.
He includes that individuals who use unaccounted money to put big bets will never gamble legally.
Approval question
For sports betting gambling to be legalised, parliamentary approval will be needed to produce a new law, and politically this will be a hard concept to offer.
"Although numerous individuals are associated with some sort of gaming - it's still a controversial concern for many," states our unnamed punter.
And given that India has a federal structural - each state will have to also pass a separate law to legalise sports betting gambling in their area.
"The process is so long and challenging that it will take years," says Mr Ranina."That's why, we are cynical about this coming true anytime quickly."
Yet with the idea having been backed by an official panel for the very first time, a minimum of a debate has actually sparked around a subject - which till now was considered a taboo.
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For Sports Gambling to Be Legalised
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