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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 against Australia.
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In his two-bedroom home located in central Mumbai, a middle-aged guy is enjoying 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.

He has made more than 10 contact the last 30 minutes - not to go over the match but to keep modifying his bet.

Five minutes previously his cash was on Australia, and now as the Indian batsman prepares to face the last over he's altered his mind.

"I think India is winning, make the modification," he tells his bookie 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 made $200 today," he states with a childlike glee.

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

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

'Black cash'

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

With no legal opportunity, punters position bets utilizing their phones by making calls to bookmakers. Gamblers can bank on anything related to the cricket match, from who is winning to the highest individual run scorer.

The majority of these transactions involve so-called "black money", which is money 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 web gaming, there is absolutely nothing similar here.

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

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

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

Require legalisation

The clamour to legalise sports betting in cricket has actually grown after a panel selected by India's Supreme Court proposed the concept, stating it would assist clamp down on corruption in the country's preferred 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 sports betting scandal emerged.

Two franchises have been prohibited for 2 years after some players and team officials were found guilty of fixing parts of the match at the wish of bookmakers.

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

Even gamblers feel that legalising sports betting is a relocation in the right instructions.

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

It would also open a huge organization opportunity for licensed bookmakers and worldwide online wagering companies to set up operations in India.

And it would assist restrict match repairing in cricket and other sports betting, argue many, by assisting make transactions associated with gambling more transparent.

"If you work along with wagering companies, you will have a very reliable technique of stamping out match repairing," states George Oborne, who runs a mock wagering website, India Bet.
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But lots of also think, that the taxes imposed on the bettor and the bookie will have to be affordable to make it attractive enough for them to bet lawfully.

However, there are restrictions.

"Definitely there will be prohibited wagering due to the fact that (some) people wouldn't desire to leave an audit trail 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 required to produce a brand-new law, and politically this will be a tough idea to sell.

"Despite the fact that lots of individuals are associated with some sort of gaming - it's still a controversial concern for many," states 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 territory.

"The procedure is so long and tricky that it will take years," says Mr Ranina."That's why, we are negative about this ending up being a reality anytime quickly."

Yet with the concept having actually been backed by an official panel for the very first time, at least a dispute has fired up around a which until now was thought about a taboo.
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