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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 house located in central Mumbai, a middle-aged guy is seeing the game, nervously. He's resting on the edge of his grey colour sofa with his cellphone glued to his ideal hand.

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

Five minutes earlier his money was on Australia, however now as the Indian batsman prepares yourself to face the last over he's altered his mind.
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"I think India is winning, make the change," he informs his bookie on the phone.

And a couple of minutes later on his forecast comes to life, as India wins the match in a nail-biting surface.

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

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

Besides horse racing, sports betting of any kind is not permitted in India. Despite that, illegal sports betting distributes thrive in the nation.

'Black money'

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

Without any legal opportunity, punters put bets using their phones by making calls to bookmakers. Gamblers can bet on anything related to the cricket match, from who is winning to the highest individual run scorer.

Most of these transactions include so-called "black money", which is money not stated to the taxman.

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

And overseas sports betting companies are utilizing this loophole to lure Indians. Even though there are no online wagering operators based out of India, a lot people have registered accounts with offshore companies.

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

But despite this, it is "offline sports betting", done through phone calls which dominate the marketplace.

Calls for legalisation

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

The Justice RM Lodha Commission was set up to suggest modifications 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 2 years after some players and group authorities were condemned of repairing parts of the match at the wish of bookmakers.

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

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

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

It would likewise open a huge service opportunity for certified bookies and worldwide online sports betting business to establish operations in India.
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And it would assist restrict match repairing in cricket and other sports betting, argue numerous, by helping make transactions involved in sports betting more .

"If you work alongside wagering business, you will have an extremely effective method of stamping out match fixing," states George Oborne, who runs a mock sports betting website, India Bet.

But numerous also believe, that the taxes levied on the bettor and the bookmaker will have to be sensible to make it appealing enough for them to gamble legally.

However, there are limitations.

"Definitely there will be illegal wagering because (some) people wouldn't wish to leave an audit path by going into the white market," says Mr Oborne.
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He adds that people who use unaccounted cash to place huge bets will never bet legally.

Approval question
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For sports betting to be legalised, parliamentary approval will be needed to produce a brand-new law, and politically this will be a tough concept to sell.

"Although lots of people are associated with some sort of gaming - it's still a questionable problem for many," states our unnamed punter.

And considered that India has a federal structural - each state will have to likewise pass a separate law to legalise sports betting 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 becoming a truth anytime quickly."

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