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Howzat? The clamour to legalise sports betting wagering in India
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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 home situated in central Mumbai, a middle-aged male is watching the game, nervously. He's sitting on the edge of his grey colour couch with his smart phone glued to his right-hand man.

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

Five minutes earlier his money was on Australia, now as the Indian batsman prepares yourself to face the last over he's changed his mind.

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

And a few minutes later on his forecast becomes a reality, as India wins the match in a nail-biting finish.

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

For more than three 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 India. Despite that, prohibited sports betting syndicates prosper in the country.

'Black cash'

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

Without any legal avenue, punters place bets using their phones by making calls to bookmakers. Gamblers can wager on anything related to the cricket match, from who is winning to the greatest private run scorer.

The majority of these deals include so-called "black cash", which is money not stated to the taxman.

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

And overseas sports betting business are using this loophole to entice Indians. Even though there are no online wagering operators based out of India, a lot people have signed up accounts with offshore companies.

"Legally you can get away [with this], as the law is ambiguous for online sports betting," states Mumbai- based lawyer HP Ranina.

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

Calls for legalisation

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

The Justice RM Lodha Commission was set up 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 wagering scandal emerged.

Two franchises have actually been prohibited for 2 years after some players and team authorities were of fixing parts of the match at the request of bookmakers.

The panel likewise argues that legalised sports betting will generate tax earnings for the exchequer that might total up to $2bn a year.

Even bettors feel that legalising sports betting wagering is a move in the ideal instructions.

"I don't mind paying some money out my revenues, as long as I can gamble publicly," states our cricket bettor.

It would likewise open a substantial service chance for certified bookies and worldwide online sports betting business to establish operations in India.

And it would help restrict match repairing in cricket and other sports betting, argue numerous, by assisting make transactions associated with sports betting more transparent.

"If you work along with sports betting business, you will have a very reliable technique of stamping out match repairing," says George Oborne, who runs a mock sports betting website, India Bet.

But lots of also believe, that the taxes levied on the bettor and the bookmaker will need to be reasonable to make it appealing enough for them to gamble legally.

However, there are restrictions.

"Definitely there will be illegal sports betting since (some) individuals would not desire to leave an audit path by getting in the white market," says Mr Oborne.

He adds that people who use unaccounted money to position huge bets will never gamble legally.

Approval concern

For sports betting to be legalised, parliamentary approval will be needed to produce a new law, and politically this will be a hard idea to sell.

"Even though many individuals are associated with some sort of gambling - it's still a questionable problem for numerous," says our unnamed punter.

And provided that India has a federal structural - each state will need to also pass a different law to legalise sports betting gambling in their area.
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"The procedure is so long and difficult that it will take years," says Mr Ranina."That's why, we are negative about this ending up being a truth anytime quickly."

Yet with the concept having actually been backed by a main panel for the very first time, at least a dispute has actually ignited around a subject - which until now was considered a taboo.
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