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Howzat? The clamour to legalise sports betting wagering in India
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Published

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 versus Australia.

In his two-bedroom house located in central Mumbai, a middle-aged guy is watching the game, nervously. He's sitting on the edge of his grey colour couch with his smart phone glued to his ideal hand.

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

Five minutes previously his money was on Australia, today as the Indian batsman gets prepared to deal with the last over he's changed his mind.

"I think India is winning, make the change," he informs his bookie on the phone.
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And a few minutes later his prediction becomes a reality, as India wins the match in a nail-biting surface.

"I have actually made $200 today," he states with a childlike glee.

For more than 3 decades he's been banking on cricket matches. We can't reveal his name as what he's doing is prohibited in India.

Besides horse racing, sports betting of any kind is not allowed India. Despite that, prohibited wagering syndicates grow in the country.

'Black money'

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

With no legal opportunity, 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 private run scorer.

Most of these deals include so-called "black money", 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 web sports betting, there is nothing similar here.

And overseas wagering business are using this loophole to tempt Indians. Even though there are no online wagering operators based out of India, a lot individuals have actually registered accounts with overseas companies.

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

But in spite of this, it is "offline sports betting", done through telephone call which control the market.

Require legalisation
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The to legalise wagering in cricket has actually grown after a panel appointed by India's Supreme Court proposed the idea, stating it would help clamp down on corruption in the country's favourite 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 wagering scandal emerged.

Two franchises have been prohibited for 2 years after some players and team officials were discovered guilty of repairing parts of the match at the request of bookies.

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

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

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

It would also open a huge organization opportunity for certified bookies 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 lots of, by helping make deals associated with gambling more transparent.

"If you work alongside sports betting business, you will have a really reliable approach of marking out match fixing," says George Oborne, who runs a mock wagering website, India Bet.

But lots of also believe, that the taxes imposed on the gambler and the bookmaker will have to be affordable to make it appealing enough for them to bet legally.

However, there are restrictions.

"Definitely there will be prohibited wagering due to the fact that (some) individuals would not wish to leave an audit path by entering the white market," says Mr Oborne.

He includes that individuals who utilize unaccounted money to put big bets will never gamble lawfully.

Approval question

For sports betting to be legalised, parliamentary approval will be needed to develop a new law, and politically this will be a difficult idea to offer.

"Even though many people are involved in some sort of gaming - it's still a questionable issue for numerous," says our unnamed punter.

And offered that India has a federal structural - each state will need to also pass a separate law to legalise sports betting in their area.
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"The process is so long and challenging 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 backed by a main panel for the very first time, at least a debate has fired up around a subject - which previously was thought about a taboo.
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