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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 press reporter

It is the last over of the cricket match, with India needing 17 go to win versus Australia.

In his two-bedroom house situated in main Mumbai, a middle-aged male is viewing the game, nervously. He's resting on the edge of his grey colour sofa with his glued to his right-hand man.

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

Five minutes previously his money was on Australia, now as the Indian batsman prepares yourself to deal with the last over he's altered his mind.

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

And a few minutes later 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.
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For more than 3 years he's been banking on cricket matches. We can't reveal his name as what he's doing is unlawful in India.
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Other than horse racing, sports betting wagering of any kind is not allowed in India. Despite that, prohibited wagering syndicates prosper in the country.
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'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 sports betting money is directed towards cricket.

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

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

The 1867 Public Gambling Act bars any kind of gaming in India, however unlike in the US which has a law forbiding web sports betting, there is nothing comparable here.

And overseas wagering business are utilizing this loophole to tempt Indians. Although there are no online sports betting operators based out of India, a lot people have actually registered accounts with overseas firms.
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"Legally you can get away [with this], as the law is unclear for online gaming," states Mumbai- based attorney HP Ranina.

But in spite of this, it is "offline gaming", done through telephone call which control the marketplace.

Require legalisation

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

The Justice RM Lodha Commission was established to suggest changes 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 banned for 2 years after some players and team authorities were found guilty of repairing parts of the match at the wish of bookmakers.
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The panel also argues that legalised wagering will generate tax revenues for the exchequer that could total up to $2bn a year.

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

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

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

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

"If you work along with wagering business, you will have a very efficient method of stamping out match repairing," states George Oborne, who runs a mock wagering site, India Bet.

But many likewise think, that the taxes imposed on the bettor and the bookmaker will need to be sensible to make it attractive enough for them to bet legally.

However, there are restrictions.

"Definitely there will be prohibited wagering since (some) people would not want to leave an audit trail by entering the white market," states Mr Oborne.

He adds that people who use unaccounted cash to position huge bets will never ever gamble legally.
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Approval concern

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

"Even however many people are associated with some sort of sports betting - it's still a controversial issue for many," states our unnamed punter.

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

"The process is so long and tricky that it will take years," states Mr Ranina."That's why, we are negative about this becoming a truth anytime quickly."

Yet with the idea having been backed by an official panel for the very first time, a minimum of a dispute has actually sparked around a topic - which previously was considered a taboo.