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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 central Mumbai, a middle-aged man is seeing the game, nervously. He's resting on the edge of his grey colour sofa with his cellphone glued to his best hand.

He has actually made more than 10 calls in the last thirty minutes - not to discuss the match but to keep modifying his bet.

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

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

And a couple of minutes later on his forecast comes real, as India wins the match in a nail-biting surface.

"I have actually 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 prohibited in India.

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

'Black money'

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

With no legal avenue, punters place bets utilizing their phones by making calls to bookmakers. Gamblers can bet on anything related to the cricket match, from who is winning to the highest private run scorer.

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

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

And offshore sports betting companies are using this loophole to entice Indians. Despite the fact that there are no online wagering operators based out of India, a lot people have actually registered accounts with firms.

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

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

Calls for legalisation

The clamour to legalise sports betting in cricket has grown after a panel selected by India's Supreme Court proposed the idea, saying it would help secure down on corruption in the country's preferred sport.

The Justice RM Lodha Commission was established to recommend modifications in the functioning of India's cricket regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League sports betting scandal emerged.

Two franchises have been prohibited for 2 years after some gamers and group officials were found guilty of repairing parts of the match at the behest of bookies.

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

Even bettors feel that legalising sports betting wagering is a relocation in the best instructions.

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

It would likewise open a substantial organization opportunity for certified bookmakers and global online wagering business to establish operations in India.

And it would assist limit match repairing in cricket and other sports betting, argue lots of, by helping make deals associated with sports betting more transparent.

"If you work along with sports betting companies, you will have a very effective approach of stamping out match fixing," states George Oborne, who runs a mock wagering site, India Bet.

But numerous also think, that the taxes levied on the bettor and the bookmaker will need to be reasonable to make it appealing enough for them to bet legally.

However, there are constraints.

"Definitely there will be unlawful wagering because (some) individuals would not wish to leave an audit path by entering the white market," states Mr Oborne.

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

Approval concern

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

"Although many individuals are included in some sort of sports betting - it's still a questionable problem for lots of," says our unnamed punter.

And given that India has a federal structural - each state will need to also pass a separate law to legalise sports betting in their area.
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"The process is so long and tricky that it will take years," says Mr Ranina."That's why, we are negative about this ending up being a reality anytime soon."

Yet with the idea having been endorsed by a main panel for the very first time, at least a dispute has fired up around a topic - which previously was thought about a taboo.
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