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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 main Mumbai, a middle-aged guy is viewing the video game, nervously. He's sitting on the edge of his grey colour sofa with his cellphone glued to his right-hand man.

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

Five minutes earlier his money 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 believe India is winning, make the change," he informs his bookie on the phone.

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

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

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

Other than horse racing, sports betting of any kind is not allowed in India. Despite that, illegal sports betting distributes flourish 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 sports betting money is directed towards cricket.

Without any legal opportunity, punters put bets using their phones by making calls to bookies. Gamblers can wager on anything associated to the cricket match, from who is winning to the greatest specific run scorer.

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

The 1867 Public Gambling Act bars any kind of gambling in India, however unlike in the US which has a law forbiding web gaming, there is nothing similar 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 individuals have actually registered accounts with overseas companies.

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

But regardless of this, it is "offline gaming", done through call which control the marketplace.

Require legalisation

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

The Justice RM Lodha Commission was set up to suggest 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 prohibited for two years after some players and group authorities were found guilty of repairing parts of the match at the request of bookmakers.

The panel also argues that legalised sports betting will generate tax profits for the exchequer that could total up to $2bn a year.

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

"I do not mind paying some money out my earnings, as long as I can gamble openly," says our cricket bettor.

It would likewise open a big business opportunity for licensed bookies and international online sports betting companies to set up operations in India.

And it would assist limit match fixing in cricket and other sports betting, argue lots of, by helping make deals involved in sports betting more transparent.

"If you work together with sports betting companies, you will have a really efficient method of marking out match repairing," states George Oborne, who runs a site, India Bet.

But lots of also believe, that the taxes imposed on the bettor and the bookie will need to be affordable to make it attractive enough for them to gamble legally.

However, there are constraints.

"Definitely there will be unlawful wagering because (some) individuals would not wish to leave an audit trail by entering the white market," says Mr Oborne.

He includes that individuals who utilize unaccounted money to position big bets will never ever gamble legally.

Approval question

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 sell.

"Although lots of people are included in some sort of gaming - it's still a questionable problem for lots of," says our unnamed punter.

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

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