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Howzat? The clamour to legalise sports betting wagering in India
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Published

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 male is enjoying the game, nervously. He's resting on the edge of his grey colour couch with his mobile phone glued to his right-hand man.

He has actually made more than 10 hire the last thirty minutes - not to discuss the match but to keep modifying his bet.
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Five minutes previously his cash was on Australia, today as the Indian batsman prepares to face the last over he's altered his mind.

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

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

"I have made $200 today," he states with a childlike glee.

For more than three decades he's been banking on cricket matches. We can't expose his name as what he's doing is prohibited in India.
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Aside from horse racing, sports betting of any kind is not permitted in India. Despite that, unlawful sports betting distributes thrive in the nation.

'Black cash'

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

Without any legal opportunity, punters place bets utilizing their phones by making calls to bookmakers. Gamblers can wager on anything related to the cricket match, from who is winning to the greatest 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 sports betting in India, however unlike in the US which has a law prohibiting web sports betting, there is nothing comparable here.
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And overseas wagering business are using this loophole to entice Indians. Although there are no online wagering operators based out of India, a lot people have signed up accounts with offshore companies.

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

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

Calls for legalisation

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

The Justice RM Lodha Commission was established to suggest 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 emerged.

Two franchises have been banned for 2 years after some gamers and team officials were discovered guilty of fixing parts of the match at the behest of bookies.

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

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

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

It would also open a substantial company chance for certified bookmakers and international online sports betting business to set up operations in India.

And it would assist limit match fixing in cricket and other sports betting, argue numerous, by assisting make transactions involved in gambling more transparent.

"If you work together with wagering companies, you will have a very efficient technique of marking out match repairing," says George Oborne, who runs a mock sports betting website, India Bet.

But numerous also believe, that the taxes levied on the bettor and the bookmaker will need to be sensible to make it attractive enough for them to bet lawfully.

However, there are limitations.

"Definitely there will be illegal sports betting due to the fact that (some) individuals would not desire to leave an audit trail by going into the white market," says Mr Oborne.

He adds that people who utilize unaccounted money to put big bets will never ever gamble lawfully.

concern

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

"Despite the fact that lots of individuals are associated with some sort of gambling - it's still a questionable problem for lots of," says our unnamed punter.

And considered that India has a federal structural - each state will have to also pass a different law to legalise sports betting in their area.

"The procedure is so long and challenging that it will take years," states Mr Ranina."That's why, we are negative about this becoming a reality anytime soon."

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