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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 versus Australia.

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

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

Five minutes previously his money was on Australia, but now as the Indian batsman prepares to deal with the last over he's altered his mind.

"I think India is winning, make the modification," he tells his bookmaker on the phone.

And a couple of minutes later on 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 three years he's been banking on cricket matches. We can't expose his name as what he's doing is unlawful in India.

Other than horse racing, sports betting wagering of any kind is not allowed India. Despite that, unlawful wagering syndicates grow in the nation.

'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 sports betting cash is directed towards cricket.

Without any legal opportunity, punters position 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 private run scorer.

Most of these deals include "black money", which is money 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 prohibiting internet sports betting, there is absolutely nothing comparable here.

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

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

But despite this, it is "offline sports betting", done through call which dominate the market.

Calls for legalisation

The clamour to legalise sports betting in cricket has actually grown after a panel designated by India's Supreme Court proposed the concept, stating it would assist clamp down on corruption in the nation's favourite sport.

The Justice RM Lodha Commission was set up to suggest 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 wagering scandal came to light.

Two franchises have been prohibited for 2 years after some gamers and team authorities were discovered guilty of repairing parts of the match at the behest of bookmakers.

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

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

"I don't mind paying some cash out my revenues, as long as I can bet openly," says our cricket gambler.

It would likewise open a substantial business opportunity for licensed bookies and worldwide online sports betting business to set up operations in India.

And it would assist restrict match fixing in cricket and other sports betting, argue lots of, by assisting make transactions involved in sports betting more transparent.

"If you work alongside sports betting business, you will have a very reliable technique of marking out match fixing," states George Oborne, who runs a mock sports betting website, India Bet.

But numerous also believe, that the taxes imposed on the bettor and the bookmaker will have to be reasonable to make it attractive enough for them to bet legally.

However, there are limitations.

"Definitely there will be illegal wagering because (some) people wouldn't want to leave an audit trail by getting in the white market," says Mr Oborne.

He adds that individuals who utilize unaccounted money to place big bets will never gamble legally.

Approval concern

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

"Although many individuals are included in some sort of gambling - it's still a questionable concern for lots of," says 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 process is so long and challenging that it will take years," says Mr Ranina."That's why, we are cynical about this coming true anytime quickly."

Yet with the idea having actually been endorsed by an official panel for the very first time, at least a debate has actually sparked around a subject - which previously was considered a taboo.