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Howzat? The clamour to legalise sports betting wagering in India

5 February 2016

By Sameer Hashmi

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

In his two-bedroom home situated in central Mumbai, a middle-aged man is enjoying the video game, nervously. He's resting on the edge of his grey colour couch with his mobile phone glued to his right-hand man.
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He has actually made more than 10 employ the last thirty minutes - not to go over the match however to keep modifying his bet.
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Five minutes previously his cash was on Australia, but now as the Indian batsman prepares to deal with the last over he's changed his mind.

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

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

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

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

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

'Black cash'

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

Without any legal opportunity, bets utilizing their phones by making calls to bookmakers. Gamblers can bet on anything associated to the cricket match, from who is winning to the highest private run scorer.

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

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

And overseas wagering business are using this loophole to tempt Indians. Despite the fact that there are no online wagering operators based out of India, a lot people have actually registered accounts with offshore firms.

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

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

Require legalisation

The clamour to legalise wagering in cricket has actually grown after a panel appointed by India's Supreme Court proposed the concept, saying it would assist clamp down on corruption in the country's favourite 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 wagering scandal emerged.

Two franchises have been prohibited for 2 years after some gamers and group authorities were condemned of fixing parts of the match at the behest of bookies.

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

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

"I don't mind paying some money out my profits, as long as I can gamble openly," says our cricket gambler.

It would likewise open a big company opportunity for licensed bookies and international online wagering companies to set up operations in India.

And it would assist limit match repairing in cricket and other sports betting, argue numerous, by assisting make transactions involved in gambling more transparent.

"If you work along with wagering business, you will have an extremely efficient approach of marking out match fixing," states George Oborne, who runs a mock wagering website, India Bet.

But numerous also think, that the taxes imposed on the bettor and the bookie will have to be affordable to make it attractive enough for them to gamble legally.

However, there are limitations.

"Definitely there will be illegal wagering because (some) people would not want to leave an audit trail by going into the white market," says Mr Oborne.

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

For sports betting to be legalised, parliamentary approval will be required to develop a brand-new law, and politically this will be a hard idea to offer.

"Even though lots of people are associated with some sort of gambling - it's still a controversial problem for numerous," says our unnamed punter.

And offered that India has a federal structural - each state will have to likewise pass a different 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 cynical about this coming true anytime quickly."

Yet with the idea having been endorsed by a main panel for the very first time, at least an argument has fired up around a subject - which previously was thought about a taboo.
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