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Howzat? The clamour to legalise sports betting wagering in India

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 located in central Mumbai, a middle-aged man is watching the game, nervously. He's sitting on the edge of his grey colour sofa with his cellphone glued to his right-hand man.

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

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

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

And a couple of minutes later his forecast comes real, as India wins the match in a nail-biting finish.

"I have actually made $200 today," he says with a childish glee.
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For more than three decades he's been banking on cricket matches. We can't reveal his name as what he's doing is prohibited in India.

Other than horse racing, sports betting of any kind is not allowed in India. Despite that, illegal wagering distributes grow 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 opportunity, punters position 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 specific run scorer.

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

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

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

"Legally you can get away [with this], as the law is uncertain for online gaming," says Mumbai- based attorney HP Ranina.

But despite this, it is "offline gambling", done through phone calls which control the market.
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Require legalisation

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

The Justice RM Lodha Commission was set up 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 sports betting scandal emerged.
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Two franchises have been banned for two years after some gamers and team officials were discovered guilty of repairing parts of the match at the request of bookmakers.

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

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

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

It would likewise open a substantial service opportunity for licensed bookmakers and international online wagering companies to set up operations in India.

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

"If you work along with sports betting companies, you will have a really reliable method of marking out match fixing," states George Oborne, who runs a mock wagering site, India Bet.

But lots of also think, that the taxes levied on the bettor and the bookie will have to be reasonable to make it appealing enough for them to bet lawfully.

However, there are limitations.
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"Definitely there will be illegal sports betting due to the fact that (some) people would not desire to leave an audit path by entering the white market," says Mr Oborne.

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

Approval concern

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

"Although many people are associated with some sort of gambling - it's still a questionable concern for many," says our unnamed punter.

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

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

Yet with the concept having been endorsed by a main panel for the very first time, at least an argument has actually fired up around a topic - which previously was thought about a taboo.