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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 runs to win against Australia.

In his two-bedroom house situated in central Mumbai, a middle-aged male is enjoying the game, nervously. He's resting on the edge of his grey colour sofa with his mobile phone glued to his right-hand man.

He has made more than 10 calls in the last 30 minutes - not to talk about the match however to keep revising his bet.

Five minutes earlier his cash was on Australia, and now as the Indian batsman gets prepared to deal with the last over he's changed his mind.

"I think India is winning, make the modification," he tells his bookmaker on the phone.

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

"I have made $200 today," he says 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 unlawful in India.

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

'Black money'

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

Without any legal opportunity, punters put bets utilizing their phones by making calls to bookmakers. Gamblers can bank on anything related to the cricket match, from who is winning to the greatest specific run scorer.

The of these deals involve so-called "black money", 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 restricting web gaming, there is absolutely nothing similar here.

And offshore wagering business are using this loophole to tempt Indians. Even though there are no online wagering operators based out of India, a lot individuals have signed up accounts with overseas firms.

"Legally you can get away [with this], as the law is unclear for online gambling," says Mumbai- based legal representative HP Ranina.

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

Require legalisation

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

The Justice RM Lodha Commission was set up to suggest modifications in the performance of India's cricket regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal emerged.

Two franchises have been banned for 2 years after some gamers and team officials 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 might total up to $2bn a year.

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

"I do not mind paying some cash out my earnings, as long as I can bet publicly," states our cricket bettor.

It would likewise open a substantial business opportunity for certified bookmakers and international online wagering business to establish operations in India.

And it would help restrict match fixing in cricket and other sports betting, argue numerous, by assisting make transactions involved in 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 sports betting site, India Bet.

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

"Definitely there will be prohibited sports betting due to the fact that (some) people would not want to leave an audit trail by going into the white market," says Mr Oborne.

He adds that people who utilize unaccounted money to place huge bets will never ever bet lawfully.

Approval concern

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.

"Despite the fact that many individuals are associated with some sort of gaming - it's still a questionable issue for many," states our unnamed punter.

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

Yet with the concept having actually been endorsed by an official panel for the very first time, at least a debate has actually sparked around a topic - which previously was thought about a taboo.
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