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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 runs to win against Australia.

In his two-bedroom home located in central Mumbai, a middle-aged guy is seeing the game, nervously. He's resting on the edge of his grey colour sofa with his smart phone glued to his right-hand man.

He has actually made more than 10 calls in the last thirty minutes - not to discuss the match however to keep 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 change," he tells his bookmaker 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 made $200 today," he states with a childish glee.

For more than 3 years he's been banking on cricket matches. We can't expose his name as what he's doing is prohibited in India.

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

'Black cash'

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 avenue, punters position bets using their phones by making calls to bookmakers. Gamblers can bank on anything associated to the cricket match, from who is winning to the greatest specific run scorer.

The majority of these deals include so-called "black cash", which is cash not stated 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 overseas wagering companies are using this loophole to lure Indians. Despite the fact that there are no online wagering operators based out of India, a lot individuals have actually signed up accounts with overseas companies.

"Legally you can escape [with this], as the law is uncertain for online sports betting," says Mumbai- based attorney HP Ranina.

But in spite of this, it is "offline gaming", done through telephone call which dominate the marketplace.

Require legalisation

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

The Justice RM Lodha Commission was set up 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 wagering scandal came to light.
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Two franchises have been banned for two years after some gamers and team officials were condemned of fixing parts of the match at the wish of bookmakers.

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

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

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

It would also open a big organization chance for certified bookies and worldwide online sports betting business to establish operations in India.
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And it would assist limit match repairing in cricket and other sports betting, argue lots of, by assisting make deals associated with gambling more transparent.

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

But lots of also believe, that the taxes levied on the bettor and the bookie will need to be reasonable to make it attractive enough for them to bet legally.

However, there are constraints.

"Definitely there will be illegal sports betting because (some) individuals wouldn't wish to leave an audit trail by going into the white market," states Mr Oborne.

He includes that individuals who use unaccounted cash to position big bets will never bet lawfully.

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 sell.

"Even however numerous individuals are associated with some sort of sports betting - it's still a controversial concern for many," states our unnamed punter.
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And considered that India has a federal structural - each state will have to likewise pass a separate law to legalise sports betting gambling in their territory.
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"The procedure is so long and difficult that it will take years," states Mr Ranina."That's why, we are cynical about this ending up being a truth anytime soon."

Yet with the idea having been endorsed by a main panel for the very first time, a minimum of a dispute has ignited around a subject - which previously was considered a taboo.