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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 main Mumbai, a middle-aged guy is enjoying the game, nervously. He's sitting on the edge of his grey colour couch with his smart phone glued to his right-hand man.

He has actually made more than 10 calls in the last 30 minutes - not to discuss the match but to keep revising 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 modification," he informs his bookie on the phone.

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

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

For more than 3 years he's been sports betting 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 India. Despite that, unlawful wagering syndicates prosper in the country.

'Black money'

According to the Doha-based International Centre for sports betting Security, India's prohibited sports betting wagering market is worth 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 bookies. Gamblers can bank on anything related to the cricket match, from who is winning to the highest individual run scorer.

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

The 1867 Public Gambling Act bars any kind of gaming in India, but unlike in the US which has a law prohibiting internet sports betting, there is absolutely nothing similar here.

And offshore wagering business 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 overseas firms.

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

But regardless of this, it is "offline gambling", done through telephone call which dominate the market.

Require legalisation

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

The Justice RM Lodha Commission was established to suggest changes in the performance of regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal came to light.

Two franchises have been prohibited for two years after some gamers and team authorities were condemned of fixing parts of the match at the behest of bookmakers.

The panel likewise argues that legalised wagering will bring in tax incomes for the exchequer that could total up to $2bn a year.

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

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

It would also open a big business opportunity for licensed bookmakers and worldwide online sports betting business to set up operations in India.

And it would help restrict match repairing in cricket and other sports betting, argue many, by helping make transactions included in sports betting more transparent.

"If you work along with wagering companies, you will have a very effective technique of marking out match fixing," says George Oborne, who runs a mock sports betting site, India Bet.

But numerous likewise believe, that the taxes levied on the bettor and the bookmaker will need to be reasonable to make it appealing enough for them to bet legally.

However, there are limitations.

"Definitely there will be illegal wagering since (some) individuals would not want to leave an audit path by going into the white market," states Mr Oborne.

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

Approval question

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

"Although lots of people are involved in some sort of gaming - it's still a questionable 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 in their area.
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"The process is so long and challenging that it will take years," says Mr Ranina."That's why, we are negative about this becoming a reality anytime quickly."

Yet with the concept having been endorsed by a main panel for the first time, a minimum of a debate has actually sparked around a subject - which previously was thought about a taboo.
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