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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 reporter

It is the last over of the cricket match, with India requiring 17 runs to win against Australia.

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

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

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

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

And a few minutes later his forecast comes true, as India wins the match in a nail-biting finish.

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

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

Other than horse racing, sports betting of any kind is not allowed in India. Despite that, unlawful wagering distributes thrive in the nation.
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'Black cash'

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

Without any legal avenue, punters place bets using their phones by making calls to bookies. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest private run scorer.

The majority of these deals include so-called "black money", which is money not stated to the taxman.

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

And overseas sports betting companies are utilizing this loophole to lure Indians. Even though 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 uncertain for online gaming," says Mumbai- based lawyer HP Ranina.

But regardless of this, it is "offline sports betting", done through call which dominate the marketplace.

Require legalisation

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

The Justice RM Lodha Commission was set up to suggest changes 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 condemned of repairing parts of the match at the request of bookmakers.

The panel also argues that legalised wagering will generate tax profits for the exchequer that could amount to $2bn a year.

Even gamblers feel that legalising sports betting wagering is a relocation in the best instructions.

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

It would also open a huge service chance for licensed bookies and worldwide online sports betting companies to set up operations in India.

And it would assist restrict match fixing in cricket and other sports betting, argue numerous, by helping make transactions associated with gambling more transparent.
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"If you work together with sports betting business, you will have a very reliable approach of stamping out match fixing," states George Oborne, who runs a mock wagering website, India Bet.

But numerous also believe, that the taxes levied on the gambler and the bookie will need to be sensible to make it appealing enough for them to bet legally.

However, there are restrictions.

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

He adds that people who use unaccounted cash to place huge bets will never bet legally.

Approval concern

For sports betting to be legalised, parliamentary approval will be needed to produce a brand-new law, and politically this will be a hard concept to sell.

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

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

Yet with the concept having actually been endorsed by a main panel for the very first time, a minimum of a debate has actually fired up around a topic - which up until now was considered a taboo.
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