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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 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 couch with his smart phone glued to his right hand.

He has actually made more than 10 contact the last 30 minutes - not to go over the match however to keep revising his bet.

Five minutes earlier his money was on Australia, now as the Indian batsman prepares to face the last over he's changed his mind.

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

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

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

For more than three decades he's been wagering on . We can't expose his name as what he's doing is illegal in India.

Aside from horse racing, sports betting of any kind is not allowed India. Despite that, illegal sports betting syndicates prosper in the nation.

'Black money'

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

With no legal avenue, punters place bets utilizing their phones by making calls to bookies. Gamblers can bet on anything related to the cricket match, from who is winning to the greatest individual run scorer.

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

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

And overseas wagering companies are utilizing this loophole to draw Indians. Although there are no online wagering operators based out of India, a lot individuals have actually signed up accounts with offshore companies.

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

But in spite of this, it is "offline gambling", done through phone calls which dominate the marketplace.

Calls for 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 assist secure down on corruption in the country's favourite sport.

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

Two franchises have actually been prohibited for two years after some gamers and group officials were condemned of repairing parts of the match at the behest of bookmakers.

The panel also argues that legalised wagering will bring in tax revenues for the exchequer that might amount to $2bn a year.

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

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

It would also open a substantial company opportunity for certified bookmakers and global online wagering companies to establish operations in India.

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

"If you work alongside wagering business, you will have an extremely efficient approach of marking out match repairing," says George Oborne, who runs a mock wagering website, India Bet.

But lots of also think, that the taxes levied on the bettor and the bookmaker will have to be affordable to make it appealing enough for them to gamble legally.

However, there are limitations.

"Definitely there will be prohibited sports betting since (some) individuals wouldn't desire to leave an audit path by going into the white market," says Mr Oborne.

He includes that people who use unaccounted money to position huge bets will never bet legally.

Approval concern

For sports betting to be legalised, parliamentary approval will be required to create a new law, and politically this will be a hard idea to offer.

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

And given that India has a federal structural - each state will need to also pass a separate law to legalise sports betting in their area.

"The procedure is so long and difficult that it will take years," says Mr Ranina."That's why, we are cynical about this coming true anytime soon."

Yet with the concept having actually been endorsed by an official panel for the very first time, a minimum of a debate has actually sparked around a topic - which previously was thought about a taboo.
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