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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 runs to win against Australia.

In his two-bedroom home located in central Mumbai, a middle-aged guy is enjoying the video game, nervously. He's sitting on the edge of his grey colour couch with his cellphone glued to his right-hand man.

He has made more than 10 hire the last 30 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 prepares to deal with the last over he's changed his mind.

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

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

"I have actually made $200 today," he says 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.

Besides horse racing, sports betting of any kind is not allowed India. Despite that, illegal sports betting distributes prosper in the nation.

'Black money'

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

Without any legal opportunity, punters put bets using their phones by making calls to bookies. 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 cash", which is money not stated to the taxman.

The 1867 Public Gambling Act bars any type of gambling in India, but unlike in the US which has a law restricting web gaming, there is nothing similar here.

And overseas sports betting business are utilizing this loophole to lure Indians. Although there are no online sports betting operators based out of India, a lot individuals have actually signed up accounts with offshore companies.

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

But regardless of this, it is "offline gaming", done through telephone call which dominate the marketplace.

Require legalisation

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

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

Two franchises have been banned for 2 years after some gamers and team authorities were found guilty of fixing parts of the match at the request of bookmakers.

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

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

"I do not mind paying some cash out my profits, as long as I can bet publicly," states our cricket bettor.

It would also open a big service opportunity for certified bookmakers and global online wagering companies to set up operations in India.

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

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

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

However, there are limitations.

"Definitely there will be illegal wagering because (some) people would not want to leave an audit path by going into the white market," says Mr Oborne.

He adds that people who utilize unaccounted cash to place big bets will never gamble lawfully.

Approval concern

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

"Despite the fact that many individuals are involved in some sort of sports betting - it's still a questionable issue for numerous," states our unnamed punter.

And considered that India has a federal structural - each state will have to likewise pass a different law to legalise sports betting gambling in their territory.
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"The procedure is so long and challenging that it will take years," says Mr Ranina."That's why, we are negative about this coming true anytime quickly."

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