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Howzat? The clamour to legalise sports betting in India

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5 February 2016

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By Sameer Hashmi

Mumbai Business press reporter
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It is the last over of the cricket match, with India requiring 17 go to win versus Australia.

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

He has actually made more than 10 hire the last 30 minutes - not to discuss the match however to keep modifying his bet.

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

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

And a few minutes later on his forecast becomes a reality, as India wins the match in a nail-biting surface.
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"I have actually made $200 today," he states with a childlike glee.

For more than 3 decades he's been sports betting on cricket matches. We can't expose his name as what he's doing is unlawful in India.

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

'Black cash'

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

Without any legal avenue, 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 include so-called "black cash", which is money not stated to the taxman.

The 1867 Public Gambling Act bars any type of sports betting in India, but unlike in the US which has a law forbiding internet gambling, there is absolutely nothing comparable here.

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

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

But despite this, it is "offline gaming", done through phone calls which dominate the marketplace.

Calls for legalisation

The clamour to legalise wagering in cricket has actually grown after a panel selected by India's Supreme Court proposed the concept, 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 performance of India's cricket regulatory body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League sports betting scandal emerged.

Two franchises have actually been prohibited for 2 years after some players and team authorities were found guilty of fixing parts of the match at the wish of bookies.

The panel likewise argues that legalised sports betting will generate tax profits 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 direction.

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

It would likewise open a substantial company opportunity for certified bookies and international online sports betting companies to set up operations in India.

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

"If you work along with sports betting companies, you will have a really 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 gambler and the bookie will need to be reasonable to make it attractive enough for them to bet lawfully.

However, there are limitations.

"Definitely there will be prohibited wagering since (some) individuals wouldn't wish to leave an audit trail by getting in the white market," says Mr Oborne.

He adds that individuals who use unaccounted money to place huge bets will never ever bet lawfully.

Approval question

For sports betting gambling to be legalised, parliamentary approval will be required to develop a new law, and politically this will be a tough concept to sell.

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

And considered that India has a federal structural - each state will need to likewise pass a different law to legalise sports betting in their territory.
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"The procedure is so long and challenging that it will take years," says Mr Ranina."That's why, we are negative about this coming true anytime quickly."

Yet with the concept having actually been endorsed by a main panel for the first time, at least an argument has sparked around a topic - which previously was considered a taboo.
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