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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 press reporter

It is the last over of the cricket match, with India needing 17 go to win against Australia.

In his two-bedroom home located in main Mumbai, a middle-aged guy is seeing the video game, nervously. He's resting on the edge of his grey colour sofa with his smart phone glued to his right hand.

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 earlier his money was on Australia, and now as the Indian batsman prepares to deal with the last over he's his mind.

"I think India is winning, make the change," he informs 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 surface.

"I have made $200 today," he states with a childlike glee.

For more than 3 decades he's been banking on cricket matches. We can't expose his name as what he's doing is prohibited in India.

Aside from horse racing, sports betting of any kind is not permitted in India. Despite that, unlawful sports betting syndicates thrive in the nation.

'Black money'

According to the Doha-based International Centre for sports betting Security, India's illegal sports betting wagering market deserves some $150bn a year. And much of that sports betting cash is directed towards cricket.

With no legal opportunity, punters position 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 transactions include so-called "black money", which is money not stated to the taxman.

The 1867 Public Gambling Act bars any sort of gaming in India, however unlike in the US which has a law restricting internet gaming, there is nothing similar here.

And offshore sports betting business are using this loophole to draw Indians. Although there are no online sports betting operators based out of India, a lot people have actually signed up accounts with overseas firms.

"Legally you can escape [with this], as the law is unclear for online gaming," states Mumbai- based lawyer HP Ranina.

But regardless of this, it is "offline gaming", done through call which control the market.

Require legalisation

The clamour to legalise wagering in cricket has actually grown after a panel selected by India's Supreme Court proposed the idea, stating it would help secure down on corruption in the country's favourite sport.

The Justice RM Lodha Commission was established to suggest modifications in the functioning 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 gamers and team officials were condemned of repairing parts of the match at the wish of bookies.

The panel also argues that legalised wagering will generate tax incomes for the exchequer that might total up to $2bn a year.

Even gamblers 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," states our cricket gambler.

It would also open a substantial company chance for licensed bookies and worldwide online sports betting business to establish operations in India.

And it would assist restrict match fixing in cricket and other sports betting, argue lots of, by assisting make transactions included in sports betting more transparent.

"If you work together with wagering companies, you will have an extremely effective technique of marking out match fixing," says George Oborne, who runs a mock wagering site, India Bet.

But many likewise think, that the taxes levied on the bettor and the bookie will need to be reasonable to make it appealing enough for them to gamble lawfully.

However, there are restrictions.
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"Definitely there will be illegal sports betting because (some) individuals would not desire to leave an audit trail by getting in the white market," states Mr Oborne.

He includes that people who utilize unaccounted cash to put huge bets will never ever bet legally.

Approval concern

For sports betting to be legalised, parliamentary approval will be needed to create a new law, and politically this will be a difficult concept to offer.

"Even however lots of people are associated with some sort of sports betting - it's still a questionable problem for many," states our unnamed punter.

And considered that India has a federal structural - each state will need to likewise pass a different law to legalise sports betting in their territory.

"The process is so long and challenging that it will take years," says Mr Ranina."That's why, we are negative about this becoming a truth anytime quickly."

Yet with the concept having been backed by an official panel for the first time, a minimum of a debate has actually fired up around a subject - which till now was considered a taboo.
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