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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 versus Australia.

In his two-bedroom house situated in main Mumbai, a middle-aged guy is viewing the video game, nervously. He's resting on the edge of his grey colour sofa with his mobile phone glued to his right-hand man.

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

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

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

And a few minutes later his forecast 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 sports betting on cricket matches. We can't expose his name as what he's doing is illegal in India.

Other than horse racing, sports betting of any kind is not allowed India. Despite that, unlawful sports betting distributes grow in the country.

'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.

Without any legal avenue, punters position bets using 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 include so-called "black cash", which is cash not declared to the taxman.

The 1867 Public Gambling Act bars any sort of sports betting in India, however unlike in the US which has a law forbiding web gaming, there is nothing similar here.

And overseas sports betting 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 ambiguous for online sports betting," says Mumbai- based attorney HP Ranina.

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

Require legalisation

The clamour to legalise wagering in cricket has actually grown after a panel appointed by India's Supreme Court proposed the concept, stating it would help clamp down on corruption in the country's favourite sport.

The Justice RM Lodha Commission was set up to recommend modifications 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 been banned for two years after some players and team officials were condemned of fixing parts of the match at the wish of bookmakers.

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 is a move in the right direction.

"I don't mind paying some cash out my revenues, as long as I can gamble publicly," says our cricket bettor.

It would likewise open a substantial company chance for certified bookmakers and global online wagering business to set up operations in India.

And it would assist limit match fixing in cricket and other sports betting, argue many, by helping make in gambling more transparent.

"If you work alongside sports betting business, you will have a very reliable approach of marking out match fixing," 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 bookmaker will need to be affordable to make it attractive enough for them to bet legally.

However, there are restrictions.

"Definitely there will be illegal wagering since (some) individuals would not want to leave an audit trail by entering the white market," says Mr Oborne.

He includes that individuals who utilize unaccounted cash to put big bets will never ever bet lawfully.
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Approval concern

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

"Although lots of people are associated with some sort of sports betting - it's still a questionable issue for numerous," states our unnamed punter.

And considered that India has a federal structural - each state will have to likewise pass a separate law to legalise sports betting gambling in their area.

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

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