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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
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It is the last over of the cricket match, with India requiring 17 go to win against Australia.

In his two-bedroom home located in main Mumbai, a middle-aged guy is viewing the game, nervously. He's sitting on the edge of his grey colour couch with his smart phone glued to his best hand.

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

Five minutes earlier his money was on Australia, today as the Indian batsman gets ready to face the last over he's changed his mind.
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"I think India is winning, make the modification," he informs his bookie on the phone.

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

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

For more than 3 years he's been sports betting 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 in India. Despite that, illegal wagering syndicates prosper in the nation.
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'Black money'
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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 money is directed towards cricket.

With no legal opportunity, punters place bets utilizing their phones by making calls to bookies. Gamblers can wager on anything associated to the cricket match, from who is winning to the greatest individual run scorer.

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

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

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

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

But regardless of this, it is "offline sports betting", done through call which dominate the marketplace.

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 country's favourite sport.

The Justice RM Lodha Commission was set up 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 sports betting scandal emerged.
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Two franchises have been prohibited for two years after some players and group authorities were condemned of repairing parts of the match at the behest of bookies.

The panel likewise argues that legalised wagering will generate tax earnings for the exchequer that could total up to $2bn a year.

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

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

It would likewise open a huge business chance for and international online sports betting companies to set up operations in India.

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

"If you work together with wagering companies, you will have an extremely effective technique of stamping out match fixing," states George Oborne, who runs a mock wagering site, India Bet.

But many likewise believe, that the taxes imposed on the bettor and the bookmaker will have to be sensible to make it appealing enough for them to bet legally.

However, there are constraints.

"Definitely there will be prohibited sports betting since (some) people would not want to leave an audit trail by going into the white market," states Mr Oborne.

He includes that people who utilize unaccounted cash to position huge bets will never ever bet legally.

Approval question

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

"Although numerous individuals are associated with some sort of gambling - it's still a controversial issue for lots of," says our unnamed punter.

And considered that India has a federal structural - each state will have to also pass a separate law to legalise sports betting in their territory.
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"The process is so long and difficult that it will take years," says Mr Ranina."That's why, we are cynical about this ending up being a truth anytime quickly."

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