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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.
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In his two-bedroom home located in central Mumbai, a middle-aged male is enjoying the game, nervously. He's resting on the edge of his grey colour couch with his mobile phone glued to his right-hand man.

He has actually made more than 10 hire the last 30 minutes - not to talk about the match but to keep modifying his bet.

Five minutes earlier his cash was on Australia, and now 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.

And a few minutes later on his prediction comes to life, 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 three decades he's been sports betting 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 permitted in India. Despite that, prohibited wagering distributes grow in the nation.

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

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

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

The 1867 Public Gambling Act bars any kind of gambling in India, but unlike in the US which has a law forbiding web gambling, there is absolutely nothing similar here.

And overseas sports betting business are utilizing this loophole to lure Indians. Even though there are no online sports betting operators based out of India, a lot individuals have actually registered accounts with offshore companies.

"Legally you can escape [with this], as the law is ambiguous for online gambling," states Mumbai- based lawyer HP Ranina.

But in spite of this, it is "offline sports betting", done through phone calls which dominate the marketplace.

Require legalisation

The clamour to legalise sports betting in cricket has actually grown after a panel designated by India's Supreme Court proposed the idea, stating it would assist secure down on corruption in the nation's favourite sport.

The Justice RM Lodha Commission was set up to suggest 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 wagering scandal came to light.

Two franchises have been prohibited for 2 years after some players and team authorities were condemned of fixing parts of the match at the behest of bookmakers.

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

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

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

It would also open a huge business opportunity for licensed bookies and global online sports betting companies to set up operations in India.

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

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

But numerous likewise believe, that the taxes imposed on the bettor and the bookie will have to be reasonable to make it appealing enough for them to bet lawfully.

However, there are constraints.

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

He adds that people who use unaccounted money to put huge bets will never ever bet lawfully.

Approval concern

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

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

And given 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 procedure is so long and challenging that it will take years," says Mr Ranina."That's why, we are cynical about this becoming a truth anytime soon."

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