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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 needing 17 runs to win against Australia.

In his two-bedroom home situated in central Mumbai, a middle-aged guy is viewing the video game, nervously. He's sitting on the edge of his grey colour sofa with his mobile phone glued to his right-hand man.
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He has actually made more than 10 employ the last 30 minutes - not to go over the match however to keep modifying his bet.

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

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

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

"I have made $200 today," he states with a childish glee.
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For more than 3 decades he's been wagering on cricket matches. We can't reveal his name as what he's doing is prohibited in India.
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Besides horse racing, sports betting wagering of any kind is not allowed in India. Despite that, unlawful wagering syndicates thrive in the nation.

'Black money'

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

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

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

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

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

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

But in spite of this, it is "offline gaming", done through telephone 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 idea, stating it would assist clamp down on corruption in the country's favourite sport.

The Justice RM Lodha Commission was established to recommend modifications in the performance of India's cricket regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal emerged.

Two franchises have actually been prohibited for 2 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 generate tax profits for the exchequer that might total up to $2bn a year.

Even gamblers feel that legalising sports betting wagering is a move in the ideal instructions.

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

It would likewise open a big service chance for certified bookies and worldwide online business to establish operations in India.

And it would help restrict match fixing in cricket and other sports betting, argue numerous, by helping make deals involved in gambling more transparent.

"If you work alongside wagering business, you will have a very effective method of marking out match fixing," says George Oborne, who runs a mock wagering site, India Bet.

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

However, there are limitations.

"Definitely there will be unlawful sports betting due to the fact that (some) individuals wouldn't want to leave an audit trail by entering the white market," says Mr Oborne.

He includes that individuals who use unaccounted money to place big bets will never gamble legally.

Approval concern

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

"Despite the fact that lots of people are included in some sort of gambling - it's still a questionable problem for lots of," says our unnamed punter.

And offered that India has a federal structural - each state will need to likewise pass a separate law to legalise sports betting in their territory.
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"The procedure is so long and tricky that it will take years," says Mr Ranina."That's why, we are cynical about this coming true anytime quickly."

Yet with the idea having been backed by an official panel for the very first time, a minimum of a dispute has actually ignited around a topic - which previously was considered a taboo.