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Howzat? The clamour to legalise sports betting wagering in India

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 situated in main Mumbai, a middle-aged male is watching the game, nervously. He's sitting on the edge of his grey colour couch with his cellphone glued to his right-hand man.

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

Five minutes previously his money was on Australia, today as the Indian batsman prepares to face the last over he's changed his mind.
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"I believe India is winning, make the modification," he tells his bookmaker on the phone.

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

"I have made $200 today," he says with a childish 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 unlawful in India.

Aside from horse racing, sports betting of any kind is not allowed India. Despite that, prohibited wagering distributes thrive in the country.

'Black money'

According to the Doha-based International Centre for sports betting Security, India's unlawful sports betting market is worth 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 individual run scorer.

Most of these deals include so-called "black money", which is money not stated to the taxman.
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The 1867 Public Gambling Act bars any type of sports betting in India, however unlike in the US which has a law restricting internet sports betting, there is absolutely nothing comparable here.

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

"Legally you can escape [with this], as the law is uncertain for online sports betting," states based attorney HP Ranina.

But despite this, it is "offline gaming", done through phone calls which control the market.

Calls for legalisation

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

The Justice RM Lodha Commission was established to recommend changes in the performance 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 actually been prohibited for 2 years after some gamers and group authorities were found guilty of repairing parts of the match at the behest of bookmakers.

The panel also argues that legalised wagering will generate tax profits for the exchequer that might amount to $2bn a year.

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

"I don't mind paying some cash out my revenues, as long as I can bet openly," says our cricket gambler.

It would also open a huge organization opportunity for certified bookmakers and global online wagering business to establish operations in India.

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

"If you work together with sports betting business, you will have a really effective technique of marking out match fixing," says George Oborne, who runs a mock sports betting site, India Bet.

But numerous also think, that the taxes imposed on the gambler and the bookie will need to be sensible to make it appealing enough for them to gamble legally.

However, there are constraints.

"Definitely there will be unlawful wagering since (some) people wouldn't wish to leave an audit trail by entering the white market," states Mr Oborne.

He adds that people who use unaccounted cash to put big bets will never ever gamble legally.

Approval concern

For sports betting gambling to be legalised, parliamentary approval will be required to develop a new law, and politically this will be a tough idea to offer.

"Despite the fact that lots of people are associated with some sort of gambling - it's still a questionable problem for numerous," states our unnamed punter.

And given that India has a federal structural - each state will have to also pass a different law to legalise sports betting 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 quickly."

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