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Howzat? The clamour to legalise sports betting wagering in India

5 February 2016

By Sameer Hashmi

Mumbai Business press reporter

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

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

He has actually made more than 10 calls in 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 prepares yourself to deal with the last over he's altered his mind.

"I believe India is winning, make the modification," he tells his bookmaker on the phone.
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And a few minutes later on his forecast comes to life, as India wins the match in a nail-biting surface.
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"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 reveal his name as what he's doing is unlawful in India.

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

'Black cash'

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.

Without any legal avenue, punters position bets using their phones by making calls to bookmakers. Gamblers can wager on anything associated to the cricket match, from who is winning to the greatest specific run scorer.

Most of these transactions involve so-called "black cash", which is money not declared 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 internet sports betting, there is nothing similar here.

And overseas sports betting business are using this loophole to lure Indians. Even though there are no online wagering operators based out of India, a lot people have actually signed up accounts with overseas companies.
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"Legally you can escape [with this], as the law is unclear for online gambling," states Mumbai- based lawyer HP Ranina.

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

Require legalisation

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

The Justice RM Lodha Commission was established to suggest changes in the performance 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 banned for two years after some players and team officials were discovered guilty of fixing parts of the match at the request of bookmakers.
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The panel also argues that legalised sports betting will bring in tax profits for the exchequer that could total up to $2bn a year.

Even gamblers feel that legalising sports betting wagering is a relocation in the ideal direction.

"I do not mind paying some cash out my revenues, as long as I can bet openly," says our cricket bettor.

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

And it would help limit match fixing in cricket and other sports betting, argue lots of, by helping make transactions included in sports betting more transparent.

"If you work alongside wagering business, you will have a very efficient technique of stamping out match fixing," states George Oborne, who runs a mock wagering website, India Bet.

But lots of likewise believe, that the taxes levied on the gambler and the bookmaker will need to be sensible to make it attractive enough for them to gamble lawfully.

However, there are constraints.

"Definitely there will be prohibited wagering due to the fact that (some) people wouldn't desire to leave an audit trail by going into the white market," states Mr Oborne.

He adds that individuals who utilize unaccounted cash to place huge bets will never bet legally.

Approval question

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

"Although lots of people are included in some sort of gambling - it's still a questionable problem for numerous," says our unnamed punter.

And offered that India has a - each state will have to also pass a different law to legalise sports betting gambling in their territory.

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

Yet with the concept having been backed by an official panel for the first time, a minimum of a dispute has actually ignited around a subject - which previously was thought about a taboo.