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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 runs to win against Australia.

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

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

Five minutes earlier his cash was on Australia, today as the Indian batsman gets prepared to deal with the last over he's changed his mind.

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

And a few minutes later his prediction becomes a reality, as India wins the match in a nail-biting finish.

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

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

Other than horse racing, sports betting wagering of any kind is not allowed in India. Despite that, prohibited sports betting distributes thrive 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 gambling cash is directed towards cricket.

With no legal avenue, punters put bets using their phones by making calls to bookmakers. Gamblers can bet on anything associated to the cricket match, from who is winning to the greatest individual run scorer.

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

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

And offshore sports betting business are using this loophole to . Although there are no online sports betting operators based out of India, a lot individuals have actually registered accounts with overseas firms.

"Legally you can get away [with this], as the law is uncertain for online sports betting," says Mumbai- based attorney 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 actually grown after a panel appointed by India's Supreme Court proposed the idea, stating it would assist clamp down on corruption in the nation's favourite sport.

The Justice RM Lodha Commission was established to suggest 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 2 years after some players and group officials were discovered guilty of fixing parts of the match at the behest of bookmakers.

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 relocation in the right instructions.

"I do not mind paying some money out my profits, as long as I can bet openly," states our cricket bettor.

It would likewise open a big company opportunity for certified bookmakers and worldwide online sports betting business to establish operations in India.

And it would assist restrict match fixing in cricket and other sports betting, argue lots of, by helping make deals associated with sports betting more transparent.

"If you work together with wagering companies, you will have an extremely effective method of stamping out match repairing," says George Oborne, who runs a mock sports betting site, India Bet.

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

However, there are limitations.

"Definitely there will be unlawful sports betting since (some) individuals wouldn't wish to leave an audit trail by entering the white market," says Mr Oborne.

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

Approval concern

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

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

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

Yet with the concept having been backed by a main panel for the very first time, at least a debate has actually fired up around a topic - which up until now was considered a taboo.