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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 reporter

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

In his two-bedroom house situated in central Mumbai, a middle-aged male is seeing 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 made more than 10 employ the last thirty minutes - not to discuss the match but to keep revising his bet.

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

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

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

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

For more than 3 years he's been banking 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 allowed India. Despite that, unlawful wagering distributes thrive in the nation.
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'Black cash'

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

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

The majority of these deals include 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 restricting internet gambling, there is absolutely nothing similar here.

And overseas wagering companies are utilizing this loophole to lure Indians. Even though 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 uncertain for online gaming," says Mumbai- based attorney HP Ranina.

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

Calls for legalisation

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

The Justice RM Lodha Commission was set up 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 sports betting scandal emerged.

Two franchises have been prohibited for 2 years after some gamers and group officials were discovered guilty of repairing parts of the match at the wish of bookmakers.

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

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

"I do not mind paying some money out my profits, as long as I can gamble openly," states our cricket gambler.

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

And it would assist limit match fixing in cricket and other sports betting, argue lots of, by helping make transactions involved in sports betting more transparent.

"If you work together with wagering business, you will have an extremely reliable technique of stamping out match repairing," states George Oborne, who runs a mock wagering site, India Bet.

But lots of likewise believe, that the taxes levied on the bettor and the bookmaker will have to be sensible to make it attractive enough for them to gamble legally.

However, there are constraints.

"Definitely there will be unlawful wagering because (some) individuals wouldn't desire to leave an audit path by getting in the white market," states Mr Oborne.

He includes that individuals who utilize unaccounted money to put huge bets will never gamble legally.

Approval concern

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

"Although many individuals are associated with some sort of gaming - it's still a controversial problem for numerous," states our unnamed punter.

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

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

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