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Howzat? The clamour to legalise sports betting wagering in India

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 go to win versus Australia.

In his two-bedroom in central Mumbai, a middle-aged male is seeing the video game, nervously. He's sitting on the edge of his grey colour sofa with his smart 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, but now as the Indian batsman prepares to face the last over he's altered his mind.
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"I believe India is winning, make the change," he informs his bookmaker on the phone.

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

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

For more than 3 years he's been sports betting on cricket matches. We can't reveal his name as what he's doing is unlawful in India.

Other than horse racing, sports betting wagering of any kind is not allowed India. Despite that, unlawful sports betting distributes grow in the country.

'Black cash'

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

Without any legal avenue, punters position bets using 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 include so-called "black money", which is money not declared to the taxman.

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

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

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

But in spite of this, it is "offline gaming", done through phone calls which control the market.

Calls for legalisation

The clamour to legalise sports betting in cricket has grown after a panel appointed by India's Supreme Court proposed the concept, saying it would assist clamp down on corruption in the country's preferred sport.
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The Justice RM Lodha Commission was set up to recommend changes in the functioning of India's cricket regulatory body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal emerged.

Two franchises have been banned for 2 years after some gamers and team officials were discovered guilty of fixing parts of the match at the request of bookmakers.

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

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

"I do not mind paying some money out my revenues, as long as I can gamble publicly," says our cricket bettor.

It would also open a substantial organization opportunity for certified bookies and worldwide online wagering companies to establish operations in India.

And it would help limit match fixing in cricket and other sports betting, argue many, by helping make deals associated with gambling more transparent.

"If you work alongside sports betting business, you will have an extremely efficient method of marking out match fixing," says George Oborne, who runs a mock wagering site, India Bet.

But numerous also believe, that the taxes imposed on the bettor and the bookmaker will need to be affordable to make it appealing enough for them to gamble legally.

However, there are restrictions.
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"Definitely there will be prohibited wagering since (some) individuals would not wish to leave an audit path by getting in the white market," says Mr Oborne.

He includes that individuals who use unaccounted money to put huge bets will never bet legally.
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Approval concern

For sports betting to be legalised, parliamentary approval will be required to produce a brand-new law, and politically this will be a hard idea to offer.

"Even though lots of people are associated with some sort of sports betting - it's still a controversial problem for many," says our unnamed punter.

And offered that India has a federal structural - each state will have to likewise pass a different law to legalise sports betting in their territory.
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"The procedure is so long and challenging that it will take years," states Mr Ranina."That's why, we are negative about this coming true anytime soon."

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