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Howzat? The clamour to legalise sports betting in India

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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 home situated in central Mumbai, a middle-aged guy is viewing the game, nervously. He's resting on the edge of his grey colour sofa with his cellphone glued to his right-hand man.

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

Five minutes previously his money was on Australia, and now as the Indian batsman gets prepared to face the last over he's changed his mind.
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"I believe India is winning, make the change," he informs his bookmaker on the phone.

And a few minutes later his forecast becomes a reality, as India wins the match in a nail-biting finish.
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"I have made $200 today," he states with a childlike glee.

For more than three years he's been wagering on cricket matches. We can't expose his name as what he's doing is unlawful in India.

Besides horse racing, sports betting of any kind is not allowed India. Despite that, illegal 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 deserves some $150bn a year. And much of that gambling cash is directed towards cricket.

Without any legal avenue, punters place bets utilizing their phones by making calls to bookmakers. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest individual run scorer.

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

The 1867 Public Gambling Act bars any sort of sports betting in India, however unlike in the US which has a law restricting web sports betting, there is nothing comparable here.

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

"Legally you can escape [with this], as the law is ambiguous for online gambling," states Mumbai- based attorney HP Ranina.
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But in spite of this, it is "offline gambling", done through call which dominate the marketplace.

Require legalisation
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The clamour to legalise wagering in cricket has grown after a panel designated by India's Supreme Court proposed the idea, saying it would assist clamp down on corruption in the nation's favourite sport.

The Justice RM Lodha Commission was established to recommend 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 emerged.

Two franchises have actually been banned for 2 years after some players and group authorities were discovered guilty of fixing parts of the match at the request of bookies.

The panel also argues that legalised sports betting will bring in tax incomes for the exchequer that could amount to $2bn a year.

Even bettors feel that legalising sports betting wagering is a relocation in the best direction.

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

It would likewise open a huge business chance for licensed bookmakers and international online wagering business to set up operations in India.

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

"If you work together with wagering business, you will have a very efficient technique of marking out match repairing," says George Oborne, who runs a mock wagering site, India Bet.

But numerous likewise believe, that the taxes levied on the gambler and the bookie will need to be affordable to make it attractive enough for them to bet lawfully.

However, there are restrictions.

"Definitely there will be prohibited sports betting due to the fact that (some) individuals would not want to leave an audit trail by going into the white market," states Mr Oborne.

He includes that individuals who use unaccounted money to position big bets will never bet legally.

Approval question

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

"Even though lots of people are associated with some sort of gaming - it's still a controversial concern for many," states our unnamed punter.

And offered 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 tricky that it will take years," says Mr Ranina."That's why, we are negative about this becoming a reality anytime quickly."

Yet with the idea having actually been backed by a main panel for the very first time, a minimum of a dispute has actually ignited around a topic - which till now was considered a taboo.
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