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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 needing 17 runs to win versus Australia.

In his two-bedroom house located in central Mumbai, a middle-aged guy is enjoying the video game, nervously. He's resting on the edge of his grey colour couch with his smart phone glued to his ideal hand.

He has made more than 10 employ the last thirty minutes - not to talk about the match but to keep revising his bet.

Five minutes previously his cash was on Australia, today 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 few minutes later his forecast comes to life, as India wins the match in a nail-biting surface.

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

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

Aside from horse racing, sports betting of any kind is not permitted in India. Despite that, illegal wagering distributes grow in the nation.

'Black cash'

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 using their phones by making calls to bookmakers. Gamblers can bank on anything associated to the cricket match, from who is winning to the greatest specific run scorer.

The majority of these transactions involve so-called "black money", which is cash not stated to the taxman.

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

And offshore wagering business are using this loophole to lure Indians. Although there are no online sports betting operators based out of India, a lot people have actually signed up accounts with offshore firms.
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"Legally you can get away [with this], as the law is ambiguous for online sports betting," states Mumbai- based lawyer HP Ranina.

But despite this, it is "offline gaming", done through phone calls which dominate the market.

Require legalisation

The clamour to legalise wagering in cricket has actually grown after a panel selected by India's Supreme Court proposed the idea, saying it would help clamp down on corruption in the nation's favourite sport.

The Justice RM Lodha Commission was set up to recommend modifications in the functioning of India's cricket 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 actually been banned for 2 years after some gamers and team authorities were condemned of fixing parts of the match at the request of bookmakers.

The panel also argues that legalised wagering will generate tax incomes for the exchequer that might total up to $2bn a year.

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

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

It would also open a substantial organization chance for certified bookmakers and international online sports betting companies to set up operations in India.

And it would assist restrict match repairing in cricket and other sports betting, argue numerous, by assisting make deals included in sports betting more transparent.

"If you work together with wagering companies, you will have an extremely reliable method of marking out match fixing," states George Oborne, who runs a mock wagering website, India Bet.

But numerous likewise think, that the taxes levied on the bettor and the bookie will have to be reasonable to make it enough for them to bet lawfully.

However, there are limitations.

"Definitely there will be illegal sports betting because (some) individuals wouldn't want to leave an audit path by entering the white market," says Mr Oborne.

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

Approval concern

For sports betting to be legalised, parliamentary approval will be needed to develop a new law, and politically this will be a difficult idea to sell.

"Despite the fact that many individuals are involved in some sort of gaming - it's still a controversial issue for numerous," says 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 area.
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"The process is so long and challenging that it will take years," states Mr Ranina."That's why, we are negative about this becoming a truth anytime quickly."

Yet with the idea having been backed by a main panel for the very first time, a minimum of an argument has sparked around a subject - which previously was thought about a taboo.
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