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Howzat? The clamour to legalise sports betting wagering in India
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5 February 2016

By Sameer Hashmi

Mumbai Business reporter

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

In his two-bedroom home situated in main Mumbai, a middle-aged male is viewing the game, nervously. He's sitting on the edge of his grey colour couch with his cellphone glued to his best hand.
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He has actually made more than 10 calls in the last thirty minutes - not to go over the match however to keep modifying his bet.

Five minutes previously his cash was on Australia, and now as the Indian batsman gets prepared to deal with the last over he's changed his mind.

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

And a few minutes later his prediction comes real, 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 reveal his name as what he's doing is unlawful in India.

Aside from horse racing, sports betting wagering of any kind is not allowed India. Despite that, illegal sports betting syndicates flourish in the nation.

'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 sports betting cash is directed towards cricket.

With no legal opportunity, punters place bets using their phones by making calls to bookmakers. Gamblers can bank on anything related to the cricket match, from who is winning to the greatest individual run scorer.

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

The 1867 Public Gambling Act bars any kind of sports betting in India, however unlike in the US which has a law restricting web gaming, there is absolutely nothing similar here.

And offshore wagering companies are using this loophole to tempt Indians. Despite the fact that there are no online wagering operators based out of India, a lot individuals have actually signed up accounts with overseas firms.

"Legally you can get away [with this], as the law is uncertain for online gambling," says Mumbai- based attorney HP Ranina.

But regardless of this, it is "offline gambling", done through phone calls which dominate the market.

Calls for legalisation

The clamour to legalise wagering in cricket has actually grown after a panel selected by India's Supreme Court proposed the idea, saying it would help clamp 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 for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal emerged.

Two franchises have been prohibited for 2 years after some gamers and group authorities were found guilty of fixing parts of the match at the request of bookies.

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

Even gamblers feel that legalising sports betting wagering is a move in the best direction.

"I do not mind paying some cash out my profits, as long as I can gamble openly," states our cricket gambler.

It would likewise open a big business chance for certified bookmakers and international online sports betting companies to set up operations in India.

And it would assist limit match repairing in cricket and other sports betting, argue many, by assisting make transactions associated with gambling more transparent.

"If you work together with sports betting business, you will have a really efficient approach of stamping out match fixing," states George Oborne, who runs a mock wagering website, India Bet.

But lots of likewise think, that the taxes levied on the gambler and the bookie will need to be affordable to make it appealing enough for them to gamble lawfully.

However, there are restrictions.

"Definitely there will be prohibited sports betting because (some) individuals would not want to leave an audit path by entering the white market," states Mr Oborne.

He adds that people who utilize unaccounted money to place big bets will never bet lawfully.

Approval concern

For sports betting gambling 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 lots of people are included in some sort of gambling - it's still a controversial issue for numerous," says our unnamed punter.

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

"The process is so long and difficult that it will take years," states Mr Ranina."That's why, we are cynical about this coming true anytime soon."

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