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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 house located in main Mumbai, a middle-aged guy is enjoying the video game, nervously. He's sitting on the edge of his grey colour couch with his cellphone 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 revising his bet.

Five minutes previously his cash was on Australia, today 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 bookie on the phone.

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

"I have made $200 today," he states with a childish 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 illegal in India.

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

'Black cash'

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

With no legal opportunity, punters place 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 individual run scorer.

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

The 1867 Public Gambling Act bars any type of gaming in India, however unlike in the US which has a law forbiding web gaming, there is nothing similar here.

And overseas wagering companies are using this loophole to entice Indians. Despite the fact that there are no online sports betting operators based out of India, a lot individuals have actually registered accounts with offshore companies.

"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 gaming", done through telephone call which control the marketplace.

Require legalisation

The clamour to legalise wagering in cricket has actually grown after a panel appointed by India's Supreme Court proposed the idea, saying it would help secure down on corruption in the nation's preferred sport.

The Justice RM Lodha Commission was set up 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 sports betting scandal emerged.
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Two have actually been banned for two years after some gamers and group officials were condemned of repairing parts of the match at the behest of bookmakers.

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

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

"I do not mind paying some money out my profits, as long as I can bet publicly," says our cricket gambler.

It would likewise open a substantial company chance for certified bookmakers and international online sports betting companies to establish operations in India.

And it would help limit match fixing in cricket and other sports betting, argue numerous, by helping make deals associated with sports betting more transparent.

"If you work together with wagering business, you will have a very effective method of stamping out match fixing," states George Oborne, who runs a mock wagering website, India Bet.

But numerous also think, that the taxes levied on the bettor and the bookmaker will have to be reasonable to make it attractive enough for them to gamble lawfully.

However, there are constraints.

"Definitely there will be prohibited sports betting because (some) people wouldn't want to leave an audit path by going into the white market," says Mr Oborne.

He includes that individuals who utilize unaccounted cash to position big bets will never ever bet legally.

Approval concern

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

"Despite the fact that many individuals are included in some sort of gaming - it's still a controversial issue for numerous," states our unnamed punter.

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

Yet with the idea having actually been endorsed by an official panel for the first time, at least a debate has actually fired up around a topic - which up until now was considered a taboo.
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