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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 go to win versus Australia.

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

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

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

"I believe India is winning, make the modification," he informs his bookie on the phone.

And a few minutes later on his forecast comes real, as India wins the match in a nail-biting finish.

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

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

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

'Black cash'

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

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

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

The 1867 Public Gambling Act bars any type 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 wagering companies are using this loophole to tempt Indians. Although there are no online wagering operators based out of India, a lot people have signed up accounts with overseas companies.

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

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

Require legalisation

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

The Justice RM Lodha Commission was established to recommend changes 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 emerged.

Two franchises have actually been prohibited for two years after some gamers and team authorities were discovered guilty of repairing parts of the match at the wish of .

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

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

"I don't mind paying some money out my earnings, as long as I can bet openly," says our cricket bettor.

It would also open a big business chance for licensed bookies and international online wagering business to set up operations in India.

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

"If you work together with sports betting business, you will have a very reliable approach of marking out match fixing," says George Oborne, who runs a mock sports betting site, India Bet.

But many likewise believe, that the taxes levied on the bettor 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 illegal wagering due to the fact that (some) individuals wouldn't desire to leave an audit trail by entering the white market," says Mr Oborne.

He includes that people who use unaccounted cash to position big bets will never ever bet lawfully.

Approval concern

For sports betting to be legalised, parliamentary approval will be needed to produce a new law, and politically this will be a hard concept to offer.

"Although many individuals are associated with some sort of gambling - it's still a controversial concern for lots of," says our unnamed punter.

And considered that India has a federal structural - each state will have to likewise pass a different law to legalise sports betting gambling in their territory.

"The process is so long and tricky that it will take years," says Mr Ranina."That's why, we are negative about this coming true anytime soon."

Yet with the concept having been endorsed by an official panel for the very first time, at least an argument has actually sparked around a subject - which until now was thought about a taboo.
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