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Howzat? The clamour to legalise sports betting 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 requiring 17 runs to win against Australia.

In his two-bedroom home situated in central Mumbai, a middle-aged male is seeing the video game, . He's resting on the edge of his grey colour couch with his smart phone glued to his best hand.

He has actually made more than 10 hire the last thirty minutes - not to talk about the match but to keep modifying his bet.

Five minutes earlier his money was on Australia, today as the Indian batsman gets prepared to deal with the last over he's altered his mind.

"I believe India is winning, make the modification," he informs his bookmaker on the phone.

And a couple of minutes later on his forecast comes true, as India wins the match in a nail-biting surface.

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

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

Other than horse racing, sports betting wagering of any kind is not allowed in India. Despite that, illegal wagering distributes thrive in the country.

'Black money'

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

Without any legal opportunity, punters position bets utilizing their phones by making calls to bookies. Gamblers can bank on anything associated to the cricket match, from who is winning to the greatest specific run scorer.

Most of these deals involve so-called "black cash", which is money not declared to the taxman.

The 1867 Public Gambling Act bars any kind of gambling in India, however unlike in the US which has a law prohibiting internet gambling, there is absolutely nothing similar here.

And offshore sports betting business are using this loophole to lure Indians. Although there are no online sports betting 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 unclear for online gambling," says Mumbai- based lawyer HP Ranina.

But in spite of this, it is "offline gambling", done through telephone call which dominate the marketplace.

Calls for 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 assist secure down on corruption in the nation's preferred sport.

The Justice RM Lodha Commission was established to recommend 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 2 years after some players and team officials were condemned of repairing parts of the match at the behest of bookies.

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

Even bettors feel that legalising sports betting wagering is a move in the right 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 service chance for certified bookmakers and global online sports betting business to establish operations in India.

And it would assist limit match fixing in cricket and other sports betting, argue numerous, by assisting make deals involved in sports betting more transparent.

"If you work together with sports betting companies, you will have a very efficient method of stamping out match fixing," says George Oborne, who runs a mock sports betting website, India Bet.

But lots of also believe, that the taxes imposed on the gambler and the bookie will need to be sensible to make it appealing enough for them to gamble lawfully.

However, there are restrictions.

"Definitely there will be unlawful sports betting since (some) people wouldn't desire to leave an audit path by entering the white market," says Mr Oborne.

He adds that individuals who utilize unaccounted money to put big bets will never gamble lawfully.

Approval concern

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

"Although lots of individuals are included in some sort of sports betting - it's still a questionable problem for many," states our unnamed punter.
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And considered that India has a federal structural - each state will have to also pass a separate law to legalise sports betting in their territory.
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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 soon."

Yet with the concept having actually been endorsed by an official panel for the very first time, at least an argument has actually fired up around a topic - which up until now was thought about a taboo.
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