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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 home located in central Mumbai, a middle-aged man is seeing the game, nervously. He's resting on the edge of his grey colour sofa with his smart phone glued to his right hand.

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

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

"I think India is winning, make the modification," he tells his bookie on the phone.

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

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

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

Besides horse racing, sports betting wagering of any kind is not allowed India. Despite that, illegal wagering syndicates thrive in the nation.

'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 gambling money is directed towards cricket.

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

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

The 1867 Public Gambling Act bars any type of gambling in India, however unlike in the US which has a law prohibiting web gaming, there is nothing comparable here.

And offshore sports betting companies are utilizing this loophole to draw Indians. Despite the fact that there are no online wagering operators based out of India, a lot people have actually registered accounts with offshore firms.

"Legally you can get away [with this], as the law is unclear for online gaming," says Mumbai- based legal representative HP Ranina.
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But regardless of this, it is "offline gambling", done through telephone call which dominate the market.

Require legalisation

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

The Justice RM Lodha Commission was established to suggest modifications in the performance 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 group officials were condemned of fixing parts of the match at the behest of bookies.

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

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

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

It would likewise open a substantial business chance for certified bookies and worldwide online sports betting business to establish operations in India.

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

"If you work along with wagering business, you will have a really efficient method of marking out match repairing," states George Oborne, who runs a mock sports betting website, India Bet.

But lots of also think, that the taxes imposed on the bettor and the bookie will need to be reasonable to make it attractive enough for them to gamble lawfully.

However, there are constraints.

"Definitely there will be prohibited sports betting because (some) individuals would not wish to leave an audit path by entering the white market," states Mr Oborne.

He adds that individuals who use unaccounted cash to put big bets will never bet legally.

Approval question

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

"Although lots of people are associated with some sort of sports betting - it's still a controversial problem 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 procedure is so long and tricky that it will take years," says Mr Ranina."That's why, we are negative about this becoming a truth anytime soon."

Yet with the idea having been backed by a main panel for the very first time, a minimum of an argument has actually ignited around a subject - which previously was considered a taboo.