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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 needing 17 go to win versus Australia.

In his two-bedroom house located in central Mumbai, a middle-aged male is viewing the video game, nervously. He's resting on the edge of his grey colour sofa with his cellphone glued to his ideal hand.

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

Five minutes previously his cash was on Australia, today as the Indian batsman prepares to deal with the last over he's his mind.

"I think India is winning, make the change," he tells his bookmaker on the phone.

And a few minutes later his prediction comes real, as India wins the match in a nail-biting finish.

"I have actually made $200 today," he states with a childish 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 prohibited in India.

Other than horse racing, sports betting wagering of any kind is not enabled in India. Despite that, illegal wagering distributes prosper in the nation.

'Black cash'

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

Without any legal avenue, punters place bets using their phones by making calls to bookies. Gamblers can bet on anything associated to the cricket match, from who is winning to the highest specific run scorer.

Most of these deals involve so-called "black cash", which is money not stated to the taxman.

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

And offshore sports betting business are utilizing this loophole to tempt Indians. Although there are no online wagering operators based out of India, a lot people have actually signed up accounts with offshore companies.

"Legally you can escape [with this], as the law is ambiguous for online gambling," states Mumbai- based attorney HP Ranina.

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

Calls for legalisation

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

The Justice RM Lodha Commission was established to recommend modifications 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 emerged.

Two franchises have been prohibited for two years after some players and team officials were condemned of fixing parts of the match at the wish of bookies.

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

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

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

It would also open a huge business opportunity for certified bookmakers and international online sports betting business to establish operations in India.

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

"If you work alongside sports betting companies, you will have a very reliable approach of stamping out match fixing," says George Oborne, who runs a mock sports betting site, India Bet.

But numerous likewise believe, that the taxes levied on the gambler and the bookmaker will have to be sensible to make it appealing enough for them to gamble lawfully.

However, there are limitations.

"Definitely there will be prohibited wagering since (some) people wouldn't desire to leave an audit trail by getting in the white market," says Mr Oborne.

He includes that people who use unaccounted money to put huge bets will never gamble lawfully.

Approval question

For sports betting gambling to be legalised, parliamentary approval will be required to produce a brand-new law, and politically this will be a difficult idea to sell.

"Despite the fact that lots of people are associated with some sort of gambling - it's still a questionable problem for numerous," says our unnamed punter.

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

"The procedure 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 reality anytime quickly."

Yet with the idea having actually been backed by an official panel for the very first time, at least a dispute has fired up around a subject - which previously was thought about a taboo.
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