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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 requiring 17 runs to win against Australia.

In his two-bedroom home located in main Mumbai, a middle-aged guy is seeing the video game, nervously. He's resting on the edge of his grey colour sofa with his mobile phone glued to his right hand.

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

Five minutes previously his cash was on Australia, and now as the Indian batsman gets ready to face the last over he's altered his mind.

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

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

"I have actually made $200 today," he says 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 in India.

Other than horse racing, sports betting wagering of any kind is not enabled in India. Despite that, illegal sports betting distributes prosper in the country.

'Black cash'

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

Without any legal avenue, punters place bets utilizing their phones by making calls to bookies. Gamblers can bank on anything related to the cricket match, from who is winning to the greatest specific run scorer.

Most of these transactions involve so-called "black money", which is cash not declared to the taxman.

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

And offshore sports betting business are utilizing this loophole to tempt Indians. Even though there are no online wagering operators based out of India, a lot individuals have signed up accounts with offshore companies.

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

But despite this, it is "offline sports betting", done through telephone call which dominate the marketplace.

Require legalisation

The clamour to legalise wagering in cricket has grown after a panel designated by India's Supreme Court proposed the concept, stating it would assist clamp down on corruption in the country's preferred sport.

The Justice RM Lodha Commission was established to recommend modifications in the performance of India's cricket regulatory body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League sports betting scandal came to light.
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Two franchises have actually been banned for two years after some players and team officials were condemned of fixing parts of the match at the behest of bookmakers.

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

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

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

It would likewise open a substantial organization chance for licensed bookies and worldwide online sports betting companies to set up operations in India.

And it would help limit match repairing in cricket and other sports betting, argue many, by assisting make deals included in gambling more transparent.

"If you work alongside wagering companies, you will have a really effective technique of stamping out match repairing," says George Oborne, who runs a mock wagering website, India Bet.

But numerous also think, that the taxes levied on the bettor and the bookmaker will have to be reasonable to make it attractive enough for them to gamble lawfully.

However, there are restrictions.

"Definitely there will be unlawful sports betting due to the fact that (some) people wouldn't want to leave an audit trail by getting in the white market," says Mr Oborne.

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

Approval concern

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

"Although many individuals are associated with some sort of sports betting - it's still a questionable problem for many," says our unnamed punter.

And considered that India has a federal structural - each state will have to also pass a separate law to legalise sports betting gambling in their territory.
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"The process is so long and tricky that it will take years," says Mr Ranina."That's why, we are cynical about this ending up being a reality anytime soon."

Yet with the idea having been backed by a main panel for the first time, a minimum of a dispute has ignited around a topic - which previously was thought about a taboo.
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