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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 reporter

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

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

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

Five minutes earlier his money was on Australia, now as the Indian batsman prepares yourself 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 couple of minutes later his forecast comes true, 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 years he's been banking on cricket matches. We can't reveal his name as what he's doing is prohibited in India.

Besides horse racing, sports betting of any kind is not in India. Despite that, unlawful wagering syndicates flourish in the country.

'Black money'

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.

Without any legal opportunity, punters position bets utilizing their phones by making calls to bookies. Gamblers can bet on anything related to the cricket match, from who is winning to the greatest private run scorer.

The majority of these transactions include so-called "black cash", which is cash not declared to the taxman.

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

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

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

But regardless of this, it is "offline gaming", done through call which control the market.

Require legalisation

The clamour to legalise sports betting in cricket has actually grown after a panel designated by India's Supreme Court proposed the concept, saying it would assist clamp down on corruption in the country's preferred sport.

The Justice RM Lodha Commission was set up to recommend changes in the functioning of India's cricket regulatory body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League sports betting scandal came to light.

Two franchises have actually been banned for two years after some gamers and team officials were condemned of repairing parts of the match at the wish of bookies.

The panel also argues that legalised sports betting will generate 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 ideal direction.

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

It would likewise open a substantial company chance for licensed bookies and worldwide online wagering companies to set up operations in India.
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And it would assist limit match fixing in cricket and other sports betting, argue many, by assisting make transactions associated with gambling more transparent.

"If you work alongside wagering business, you will have a very efficient approach of stamping out match fixing," says George Oborne, who runs a mock wagering site, India Bet.

But numerous also believe, that the taxes imposed on the gambler and the bookie will have to be reasonable to make it attractive enough for them to bet legally.

However, there are constraints.
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"Definitely there will be prohibited wagering due to the fact that (some) individuals would not want to leave an audit path by going into the white market," says Mr Oborne.

He includes that individuals who utilize unaccounted cash to put huge bets will never ever gamble lawfully.

Approval concern

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

"Despite the fact that lots of people are involved in some sort of gaming - it's still a questionable problem for numerous," states 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 tricky that it will take years," says Mr Ranina."That's why, we are cynical about this becoming a truth anytime soon."

Yet with the idea having actually been endorsed by an official panel for the very first time, a minimum of a debate has fired up around a topic - which previously was considered a taboo.