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Howzat? The clamour to legalise sports betting wagering 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 requiring 17 go to win versus Australia.

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

He has 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 cash was on Australia, however now as the Indian batsman prepares to face the last over he's changed his mind.

"I believe India is winning, make the change," he informs his bookie on the phone.

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

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

For more than 3 decades he's been banking on cricket matches. We can't reveal his name as what he's doing is unlawful in India.
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Other than horse racing, sports betting of any kind is not allowed India. Despite that, unlawful wagering distributes grow in the nation.

'Black money'

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

With no legal opportunity, punters position bets utilizing their phones by making calls to bookies. Gamblers can bet on anything associated to the cricket match, from who is winning to the greatest specific 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 kind of in India, however unlike in the US which has a law restricting internet gaming, there is absolutely nothing comparable here.

And overseas wagering business are using this loophole to entice Indians. Although there are no online wagering operators based out of India, a lot people have actually registered accounts with overseas firms.

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

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

Calls for legalisation

The clamour to legalise wagering in cricket has actually grown after a panel appointed by India's Supreme Court proposed the idea, saying it would assist clamp down on corruption in the country's preferred sport.
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The Justice RM Lodha Commission was established to recommend changes in the functioning of India's cricket regulatory body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal came to light.

Two franchises have been prohibited for 2 years after some gamers and team officials were found guilty of fixing parts of the match at the behest of bookies.

The panel also argues that legalised sports betting will generate tax earnings for the exchequer that might total up to $2bn a year.

Even gamblers feel that legalising sports betting is a move in the ideal direction.
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"I do not mind paying some cash out my revenues, as long as I can gamble openly," states our cricket gambler.

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

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

"If you work alongside sports betting companies, you will have a really reliable approach of marking out match repairing," states George Oborne, who runs a mock sports betting site, India Bet.

But many likewise believe, that the taxes levied 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 illegal wagering because (some) people wouldn't want to leave an audit path by going into the white market," states Mr Oborne.

He includes that people 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 produce a brand-new law, and politically this will be a hard idea to sell.
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"Although many people are included in some sort of gaming - it's still a controversial concern for numerous," says our unnamed punter.

And considered that India has a federal structural - each state will need to also pass a different law to legalise sports betting in their territory.

"The process is so long and challenging that it will take years," states Mr Ranina."That's why, we are negative about this ending up being a reality anytime soon."

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