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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 requiring 17 runs to win versus Australia.

In his two-bedroom home located in main Mumbai, a middle-aged male is watching the video game, nervously. He's resting on the edge of his grey colour couch with his smart phone glued to his right-hand man.

He has actually made more than 10 calls in the last thirty minutes - not to go over the match however to keep revising his bet.
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Five minutes earlier his cash was on Australia, and now as the Indian batsman prepares to deal with the last over he's changed his mind.

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

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

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

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

Other than horse racing, sports betting of any kind is not allowed in India. Despite that, prohibited sports betting syndicates prosper in the nation.

'Black cash'

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

With no legal opportunity, punters place 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 highest private run scorer.

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

The 1867 Public Gambling Act bars any sort of gambling in India, but unlike in the US which has a law forbiding web gambling, there is absolutely nothing similar here.

And overseas wagering business are utilizing this loophole to lure Indians. Despite the fact that there are no online sports betting operators based out of India, a lot individuals have registered accounts with offshore firms.

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

But despite this, it is "offline sports betting", done through call which control the marketplace.

Require legalisation

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

The Justice RM Lodha Commission was established to recommend 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 prohibited for 2 years after some players and team authorities were condemned of fixing parts of the match at the behest of bookmakers.

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

Even bettors feel that legalising sports betting wagering is a relocation in the best instructions.
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"I don't mind paying some cash out my revenues, as long as I can gamble openly," says our cricket gambler.

It would also open a big company opportunity for certified bookmakers and global online sports betting business to set up operations in India.

And it would help limit match fixing in cricket and other sports betting, argue many, by assisting make deals involved in gambling more transparent.

"If you work alongside sports betting companies, you will have a really effective method of stamping out match repairing," states George Oborne, who runs a mock sports betting website, India Bet.

But lots of likewise think, that the taxes imposed on the bettor and the bookie will have to be reasonable to make it appealing enough for them to bet legally.

However, there are restrictions.

"Definitely there will be prohibited wagering due to the fact that (some) people wouldn't wish to leave an audit trail by getting in the white market," says Mr Oborne.

He includes that people who use unaccounted money to put huge bets will never bet lawfully.

Approval concern

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

"Even though lots of people are associated with 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 have to likewise pass a different 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 cynical about this coming true anytime soon."

Yet with the concept having actually been endorsed by a main panel for the very first time, at least a debate has fired up around a topic - which previously was considered a taboo.
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