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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 requiring 17 runs to win versus Australia.

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

He has actually made more than 10 hire the last 30 minutes - not to go over the match however to keep modifying his bet.

Five minutes previously his cash was on Australia, and now as the Indian batsman prepares to face the last over he's altered his mind.
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"I think India is winning, make the modification," he tells his bookmaker on the phone.

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

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

For more than three decades he's been sports betting on cricket matches. We can't expose his name as what he's doing is illegal in India.

Other than horse racing, sports betting wagering of any kind is not allowed 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 unlawful sports betting wagering market deserves some $150bn a year. And much of that sports betting money is directed towards cricket.

With no legal avenue, punters place bets using their phones by making calls to bookies. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest individual run scorer.

The majority of these transactions involve so-called "black cash", which is cash not stated 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 similar here.

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

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

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

Require legalisation

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

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

Two franchises have actually been prohibited for 2 years after some players and group officials were found guilty of repairing parts of the match at the behest of bookies.

The panel also argues that legalised wagering 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 right instructions.

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

It would likewise open a huge organization opportunity for certified bookies and worldwide online sports betting business to establish operations in India.

And it would help restrict match fixing in cricket and other sports betting, argue many, by helping make transactions involved in gambling more transparent.

"If you work along with wagering business, you will have an extremely effective approach of marking out match repairing," states George Oborne, who runs a mock sports betting site, India Bet.

But numerous also think, that the taxes levied on the gambler and the bookie will need to be reasonable to make it appealing enough for them to bet lawfully.

However, there are limitations.

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

He includes that individuals who use unaccounted cash to place huge bets will never ever bet legally.

Approval concern

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

"Even though many individuals are involved in some sort of gaming - it's still a questionable concern for lots of," states our unnamed punter.

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

Yet with the idea having actually been endorsed by a main panel for the first time, at least a debate has actually ignited around a topic - which till now was thought about a taboo.
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