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Howzat? The clamour to legalise sports betting wagering in India
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Published

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 versus Australia.

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

He has actually made more than 10 contact the last thirty minutes - not to go over the match but to keep revising his bet.

Five minutes earlier his money was on Australia, today as the Indian batsman prepares to face the last over he's changed his mind.

"I think India is winning, make the change," he informs his bookmaker on the phone.

And a few minutes later his prediction becomes a reality, as India wins the match in a nail-biting finish.

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

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

Besides horse racing, sports betting wagering of any kind is not allowed India. Despite that, unlawful wagering distributes flourish in the nation.

'Black cash'

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 sports betting money is directed towards cricket.

Without any legal avenue, punters put 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 highest specific run scorer.
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The majority of these transactions include so-called "black cash", which is money not declared to the taxman.

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

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

"Legally you can get away [with this], as the law is uncertain for online gaming," states Mumbai- based attorney HP Ranina.
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But in spite of this, it is "offline gambling", done through phone calls which dominate the marketplace.

Require legalisation

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

The Justice RM Lodha Commission was set up to suggest changes in the 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 been banned for 2 years after some gamers and group officials were found guilty of repairing parts of the match at the wish of bookmakers.

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

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

"I don't mind paying some money out my earnings, as long as I can bet publicly," states our cricket gambler.

It would likewise open a huge organization chance for licensed bookies and international online sports betting business to set up operations in India.

And it would help limit match fixing in cricket and other sports betting, argue numerous, by helping make transactions included in gambling more transparent.

"If you work alongside sports betting companies, you will have an extremely reliable approach of stamping out match repairing," says George Oborne, who runs a mock wagering website, India Bet.

But many likewise think, that the taxes levied on the bettor and the bookie will need to be affordable to make it attractive enough for them to gamble legally.

However, there are limitations.

"Definitely there will be prohibited sports betting due to the fact that (some) individuals wouldn't desire to leave an audit path by entering the white market," states Mr Oborne.

He adds that individuals who use unaccounted cash to put big bets will never gamble lawfully.

Approval question

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

"Although lots of people are involved in some sort of sports betting - it's still a questionable issue for numerous," says our unnamed punter.

And considered that India has a federal structural - each state will need to also 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," 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 an argument has actually ignited around a subject - which till now was thought about a taboo.
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