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Howzat? The clamour to legalise sports betting 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 requiring 17 runs to win against Australia.

In his two-bedroom home situated in central Mumbai, a middle-aged man is enjoying the video game, nervously. He's sitting on the edge of his grey colour sofa with his smart phone glued to his ideal hand.

He has actually made more than 10 employ the last 30 minutes - not to talk about the match however to keep modifying his bet.

Five minutes earlier his cash was on Australia, and now as the Indian batsman gets prepared to deal with the last over he's altered his mind.

"I believe India is winning, make the modification," he informs his bookmaker on the phone.

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

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

Aside from horse racing, sports betting wagering of any kind is not enabled in India. Despite that, unlawful sports betting distributes prosper in the country.
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'Black cash'

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 cash is directed towards cricket.

With no legal opportunity, punters put bets utilizing their phones by making calls to bookies. Gamblers can bank on anything related to the cricket match, from who is winning to the greatest specific run scorer.

The majority of these deals 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 prohibiting internet gaming, there is absolutely nothing comparable here.

And overseas wagering business are utilizing this loophole to lure Indians. Although there are no online sports betting operators based out of India, a lot people have actually registered accounts with overseas firms.

"Legally you can escape [with this], as the law is uncertain for online gaming," says Mumbai- based legal representative HP Ranina.

But in spite of this, it is "offline sports betting", done through telephone call which dominate the market.

Require legalisation

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

The Justice RM Lodha Commission was set up to recommend 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 wagering scandal emerged.

Two franchises have been banned for two years after some players and group authorities were condemned of repairing parts of the match at the behest of bookmakers.

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

Even bettors feel that legalising sports betting is a move in the right instructions.

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

It would also open a huge organization opportunity for licensed bookies and international online wagering business to establish operations in India.

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

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

But lots of also think, that the taxes imposed on the gambler and the bookmaker will need to be reasonable to make it attractive enough for them to gamble lawfully.

However, there are restrictions.

"Definitely there will be unlawful sports betting due to the fact that (some) people would not want to leave an audit path by entering the white market," states Mr Oborne.

He adds that individuals who utilize unaccounted money to position huge bets will never gamble lawfully.

Approval concern

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

"Despite the fact that lots of people are included in some sort of sports betting - it's still a controversial problem for many," says 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 territory.
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"The procedure 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 concept having been endorsed by an official panel for the very first time, at least a debate has actually fired up around a subject - which previously was thought about a taboo.