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Howzat? The clamour to legalise sports betting wagering in India
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bet9ja.com
5 February 2016
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By Sameer Hashmi
Mumbai Business reporter
It is the last over of the cricket match, with India requiring 17 runs to win versus Australia.
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In his two-bedroom house located in main Mumbai, a middle-aged guy is enjoying the video game, nervously. He’s resting on the edge of his grey colour couch with his mobile phone glued to his right-hand man.
He has made more than 10 contact the last 30 minutes - not to talk about the match but to keep revising his bet.
Five minutes earlier his money was on Australia, but 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 tells his bookmaker on the phone.
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And a couple of minutes later his prediction becomes a reality, as India wins the match in a nail-biting surface.
"I have made $200 today,” he says with a childlike glee.
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For more than three decades he’s been banking on cricket matches. We can’t reveal his name as what he’s doing is prohibited in India.
Aside from horse racing, sports betting wagering of any kind is not allowed India. Despite that, unlawful wagering syndicates prosper in the nation.
'Black money'
According to the Doha-based International Centre for sports betting Security, India’s prohibited sports betting market is worth some $150bn a year. And much of that gambling cash is directed towards cricket.
Without any legal opportunity, punters put bets using their phones by making calls to bookmakers. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest private run scorer.
Most of these deals involve so-called “black money”, which is money not declared to the taxman.
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The 1867 Public Gambling Act bars any sort of gaming in India, however unlike in the US which has a law forbiding web gambling, there is absolutely nothing similar here.
And offshore sports betting companies are using this loophole to entice Indians. Even though there are no online wagering operators based out of India, a lot people have actually registered accounts with overseas companies.
"Legally you can escape [with this], as the law is uncertain for online sports betting,” states Mumbai- based legal representative HP Ranina.
But regardless of this, it is “offline gambling”, done through call which dominate the market.
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Require legalisation
The clamour to legalise wagering in cricket has actually grown after a panel selected by India’s Supreme Court proposed the concept, saying it would help clamp down on corruption in the nation’s favourite sport.
The Justice RM Lodha Commission was established to suggest 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 emerged.
Two franchises have been prohibited for two years after some gamers and team officials were condemned of repairing parts of the match at the request of bookmakers.
The panel likewise argues that legalised wagering will bring in tax revenues for the exchequer that might amount to $2bn a year.
Even gamblers feel that legalising sports betting is a move in the ideal instructions.
"I do not mind paying some cash out my earnings, as long as I can bet publicly,” says our .
It would also open a substantial company chance for certified bookies and international online sports betting business to set up operations in India.
And it would assist restrict match repairing in cricket and other sports betting, argue lots of, by assisting make transactions associated with sports betting more transparent.
"If you work together with wagering business, you will have a very reliable method of marking out match fixing,” says George Oborne, who runs a mock wagering site, India Bet.
But lots of likewise believe, that the taxes levied on the gambler and the bookmaker will have to be reasonable to make it appealing enough for them to bet legally.
However, there are restrictions.
"Definitely there will be illegal wagering because (some) individuals wouldn’t desire to leave an audit path by entering the white market,” states Mr Oborne.
He includes that individuals who use unaccounted cash to put big bets will never ever gamble lawfully.
Approval question
For sports betting gambling to be legalised, parliamentary approval will be needed to develop a brand-new law, and politically this will be a tough concept to offer.
"Even though lots of individuals are involved in some sort of sports betting - it’s still a controversial issue for numerous,” states 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 gambling in their area.
"The procedure is so long and difficult that it will take years,” states Mr Ranina.“That’s why, we are negative about this coming true anytime soon.“
Yet with the idea having actually been backed by an official panel for the first time, a minimum of an argument has sparked around a topic - which till now was considered a taboo.
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