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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 press reporter

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

In his two-bedroom home located in central Mumbai, a middle-aged male is enjoying the game, nervously. He's resting on the edge of his grey colour couch with his cellphone glued to his right-hand man.

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

Five minutes earlier his cash was on Australia, however now as the Indian batsman prepares to deal with the last over he's altered his mind.

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

And a couple of minutes later on his prediction comes to life, as India wins the match in a nail-biting surface.

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

Aside from horse racing, sports betting of any kind is not allowed India. Despite that, unlawful sports betting distributes grow in the nation.

'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 sports betting money is directed towards cricket.
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With no legal opportunity, punters position bets using their phones by making calls to bookies. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest private run scorer.

Most of these transactions involve so-called "black cash", which is cash not declared to the taxman.

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

And offshore wagering companies are using this loophole to lure Indians. Although there are no online sports betting operators based out of India, a lot individuals have registered accounts with overseas companies.

"Legally you can escape [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 phone calls which control the market.

Require 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 help clamp down on corruption in the nation's favourite sport.

The Justice RM Lodha Commission was set up to suggest modifications in the performance of India's cricket regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal emerged.

Two franchises have been prohibited for 2 years after some players and team officials were discovered guilty of repairing parts of the match at the request of bookies.

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

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

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

It would likewise open a huge company opportunity for certified bookmakers and worldwide online wagering companies to establish operations in India.

And it would help restrict match fixing in cricket and other sports betting, argue many, by helping make deals associated with sports betting more transparent.

"If you work alongside wagering companies, you will have a very reliable technique of marking out match fixing," says George Oborne, who runs a mock wagering site, India Bet.

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

However, there are restrictions.

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

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

Approval concern

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

"Even however lots of individuals are involved in some sort of gambling - it's still a controversial concern for many," says 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 challenging that it will take years," states Mr Ranina."That's why, we are negative about this coming true anytime quickly."

Yet with the idea having been endorsed by an official panel for the very first time, at least an argument has ignited around a topic - which until now was thought about a taboo.
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