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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 press reporter

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

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

He has actually made more than 10 employ the last 30 minutes - not to talk about the match but to keep revising his bet.

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

"I believe India is winning, make the modification," he informs 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 3 decades he's been sports betting on cricket matches. We can't reveal his name as what he's doing is illegal in India.

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

'Black cash'

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

With no legal opportunity, 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.

Most 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 restricting internet gaming, there is absolutely nothing similar here.
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And offshore wagering companies are utilizing this loophole to tempt Indians. Despite the fact that there are no online sports betting operators based out of India, a lot individuals have registered accounts with offshore firms.

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

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

Calls for legalisation

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

The Justice RM Lodha Commission was established to suggest changes in the functioning of India's cricket regulatory body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League sports betting scandal came to light.

Two franchises have actually been banned for 2 years after some players and group officials were condemned of repairing parts of the match at the wish of bookies.

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

Even bettors feel that legalising sports betting is a relocation in the ideal direction.

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

It would likewise open a big company opportunity for licensed bookmakers and international online sports betting companies to set up operations in India.

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

"If you work along with sports betting business, you will have a very efficient approach of marking out match repairing," says George Oborne, who runs a mock sports betting site, India Bet.

But many also think, that the taxes imposed on the gambler and the bookie will need to be affordable to make it appealing enough for them to gamble legally.

However, there are constraints.

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

He includes that individuals who use unaccounted money to put big bets will never bet lawfully.

Approval concern

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

"Even though lots of people are involved in some sort of gaming - it's still a controversial issue for many," says our unnamed punter.

And offered that India has a federal structural - each state will need to likewise pass a different law to legalise sports betting in their area.
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"The procedure is so long and tricky that it will take years," states Mr Ranina."That's why, we are cynical about this coming true anytime soon."

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