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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 press reporter

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

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

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

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

"I think India is winning, make the change," he tells his bookie 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 made $200 today," he states with a childish glee.

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

Besides horse racing, sports betting wagering of any kind is not enabled in India. Despite that, prohibited sports betting distributes grow in the country.

'Black cash'

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 cash is directed towards cricket.

Without any legal opportunity, punters put bets using their phones by making calls to bookmakers. Gamblers can bet on anything associated to the cricket match, from who is winning to the greatest individual run scorer.

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

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

And overseas wagering companies are using this loophole to draw Indians. Even though there are no online sports betting operators based out of India, a lot individuals have registered accounts with overseas companies.

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

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

Require legalisation

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

The Justice RM Lodha Commission was set up to suggest 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 players and group authorities were condemned of fixing parts of the match at the request of bookies.

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

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

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

It would also open a huge business opportunity for licensed bookmakers and international online sports betting to set up operations in India.

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

"If you work alongside wagering business, you will have an extremely efficient approach of marking out match fixing," says George Oborne, who runs a mock wagering site, India Bet.

But numerous likewise think, that the taxes imposed on the gambler and the bookie will need to be reasonable to make it appealing enough for them to bet legally.

However, there are limitations.

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

He includes that individuals who utilize unaccounted money to put huge bets will never ever gamble legally.

Approval question

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

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

And provided that India has a federal structural - each state will have to likewise pass a different law to legalise sports betting in their area.
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"The process is so long and difficult that it will take years," states Mr Ranina."That's why, we are cynical about this becoming a reality anytime soon."

Yet with the concept having been endorsed by a main panel for the very first time, a minimum of a dispute has actually ignited around a topic - which previously was considered a taboo.
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