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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 needing 17 runs to win versus Australia.

In his two-bedroom house situated in central Mumbai, a middle-aged male is watching the video game, nervously. He's sitting on the edge of his grey colour sofa with his smart phone glued to his right-hand man.

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

Five minutes earlier his cash was on Australia, but now as the Indian batsman gets all set to deal with 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 prediction comes true, as India wins the match in a nail-biting surface.

"I have actually made $200 today," he says with a childish 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 illegal in India.

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

'Black money'

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 utilizing their phones by making calls to bookmakers. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest specific run scorer.

The majority of these transactions involve so-called "black cash", which is money not declared to the taxman.

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

And offshore wagering companies are utilizing this loophole to tempt Indians. Although there are no online sports betting operators based out of India, a lot individuals have actually registered accounts with offshore firms.

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

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

Require legalisation

The clamour to legalise wagering in cricket has grown after a panel designated by India's Supreme Court proposed the idea, stating it would assist clamp down on corruption in the country's preferred sport.

The Justice RM Lodha Commission was established to recommend changes in the functioning 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 two years after some gamers and group officials were condemned of fixing parts of the match at the wish of bookies.

The panel also argues that legalised sports betting will bring in tax earnings for the exchequer that could total up to $2bn a year.

Even gamblers feel that legalising sports betting is a relocation in the right instructions.

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

It would also open a huge organization opportunity for licensed bookies and international online wagering business to establish operations in India.

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

"If you work alongside sports betting business, you will have a really effective method of stamping out match fixing," says George Oborne, who runs a mock sports betting site, India Bet.

But lots of likewise believe, that the taxes imposed on the gambler and the bookie will have to be reasonable to make it appealing enough for them to bet lawfully.

However, there are constraints.

"Definitely there will be illegal sports betting due to the fact that (some) people would not desire to leave an audit path by entering the white market," states Mr Oborne.

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

Approval concern

For sports betting to be legalised, parliamentary approval will be required to create a brand-new law, and politically this will be a difficult concept to offer.

"Although many people are involved in some sort of sports betting - it's still a questionable concern for numerous," states our unnamed punter.

And given that India has a federal structural - each state will need to also pass a different 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 quickly."

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