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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 needing 17 go to win against Australia.

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

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

Five minutes earlier his cash was on Australia, today as the Indian batsman gets prepared 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 few minutes later on his forecast comes real, as India wins the match in a nail-biting surface.

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

For more than 3 decades he's been banking on cricket matches. We can't reveal his name as what he's doing is illegal in India.

Aside from horse racing, sports betting of any kind is not permitted in India. Despite that, illegal wagering syndicates flourish in the country.

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

With no legal opportunity, punters put bets utilizing their phones by making calls to bookmakers. Gamblers can bet on anything related to the cricket match, from who is winning to the highest specific run scorer.

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

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

And overseas wagering companies are utilizing this loophole to lure Indians. Although there are no online wagering operators based out of India, a lot individuals have signed up accounts with overseas firms.

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

But regardless of this, it is "offline gambling", done through phone calls which control the market.

Calls for legalisation

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

The Justice RM Lodha Commission was established to suggest modifications 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 came to light.

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

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

Even bettors feel that legalising sports betting wagering is a move in the ideal instructions.

"I don't mind paying some money out my revenues, as long as I can gamble publicly," says our cricket bettor.

It would also open a huge business chance for certified bookies and global online wagering companies to in India.

And it would help limit match repairing in cricket and other sports betting, argue many, by helping make deals involved in gambling more transparent.

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

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

However, there are constraints.

"Definitely there will be illegal wagering because (some) people would not wish to leave an audit path by getting in the white market," says Mr Oborne.

He adds that people who utilize unaccounted cash to position big bets will never bet legally.

Approval question

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

"Although many individuals are included 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 challenging that it will take years," says Mr Ranina."That's why, we are negative about this becoming a truth anytime quickly."

Yet with the idea having been endorsed by an official panel for the very first time, a minimum of a debate has ignited around a subject - which till now was considered a taboo.
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