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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 match, with India needing 17 runs to win against Australia.

In his two-bedroom house located in central Mumbai, a middle-aged guy is watching the video game, nervously. He's sitting on the edge of his grey colour sofa with his smart phone glued to his best hand.

He has made more than 10 calls in the last 30 minutes - not to discuss the match however to keep revising his bet.

Five minutes previously his cash was on Australia, however now as the Indian batsman prepares yourself to face the last over he's altered his mind.

"I think India is winning, make the modification," he tells his bookie on the phone.

And a few minutes later his prediction comes to life, as India wins the match in a nail-biting finish.

"I have made $200 today," he states 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.

Aside from horse racing, sports betting of any kind is not permitted in India. Despite that, illegal wagering distributes flourish in the country.

'Black cash'

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

Without any legal opportunity, punters position bets using their phones by making calls to bookies. Gamblers can bet on anything related to the cricket match, from who is winning to the greatest private run scorer.

Most of these transactions include so-called "black cash", which is cash not declared 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 comparable here.

And offshore wagering business are utilizing this loophole to draw Indians. Although there are no online wagering operators based out of India, a lot people have actually registered accounts with overseas firms.

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

But in spite of this, it is "offline sports betting", done through telephone call which dominate the market.

Require legalisation

The clamour to legalise wagering in cricket has grown after a panel designated by India's Supreme Court proposed the concept, saying it would help secure down on corruption in the nation's preferred sport.

The Justice RM Lodha Commission was established to recommend changes in the performance of India's cricket regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal came to light.

Two franchises have actually been prohibited for 2 years after some gamers and group authorities were condemned of repairing parts of the match at the behest of bookmakers.

The panel likewise argues that legalised sports betting will bring in tax incomes for the exchequer that could amount to $2bn a year.

Even bettors feel that legalising sports betting is a relocation in the ideal direction.

"I do not mind paying some money out my profits, as long as I can gamble publicly," says our cricket gambler.

It would also open a huge organization opportunity for licensed bookies and global online sports betting business to establish operations in India.

And it would assist restrict match repairing in cricket and other sports betting, argue numerous, by assisting make transactions involved in gambling more transparent.

"If you work together with wagering companies, you will have a very effective approach of stamping out match fixing," says George Oborne, who runs a mock wagering site, India Bet.

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

However, there are limitations.

"Definitely there will be unlawful wagering since (some) people would not wish to leave an audit trail by going into the white market," says Mr Oborne.

He includes that people who utilize unaccounted cash to position big bets will never ever gamble lawfully.

Approval concern

For sports betting to be legalised, parliamentary approval will be needed to develop a brand-new law, and politically this will be a hard concept to sell.

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

And provided that India has a federal structural - each state will have to also pass a separate law to legalise sports betting gambling 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 becoming a reality anytime quickly."

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