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Howzat? The clamour to legalise sports betting 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 go to win against Australia.

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

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

Five minutes earlier his money was on Australia, however now as the Indian batsman gets all set to deal with the last over he's altered his mind.

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

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

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

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

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

'Black money'

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 sports betting money is directed towards cricket.

With no legal avenue, punters place bets using their phones by making calls to bookies. Gamblers can bank on anything related to the cricket match, from who is winning to the highest specific run scorer.

Most of these deals include so-called "black money", which is cash not stated to the taxman.

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

And offshore sports betting companies are utilizing this loophole to entice Indians. Despite the fact that there are no online sports betting operators based out of India, a lot people have signed up accounts with offshore companies.

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

But despite this, it is "offline sports betting", done through phone calls which dominate the market.

Require legalisation

The clamour to legalise sports betting in cricket has grown after a panel selected 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 set up to recommend 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 actually been banned for two years after some players and team authorities were condemned of repairing parts of the match at the wish of bookmakers.

The panel likewise argues that legalised sports betting will bring in tax earnings for the exchequer that could total up to $2bn a year.

Even bettors feel that legalising sports betting is a move in the best direction.
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"I do not mind paying some cash out my earnings, as long as I can gamble publicly," says our cricket bettor.

It would likewise open a big service chance for certified bookmakers and global online wagering companies to establish operations in India.

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

"If you work together with wagering companies, you will have a very effective approach of marking out match fixing," says George Oborne, who runs a mock wagering website, India Bet.

But lots of likewise think, that the taxes levied on the gambler and the bookmaker will need to be sensible to make it attractive enough for them to bet lawfully.

However, there are restrictions.

"Definitely there will be prohibited sports betting due to the fact that (some) people would not wish to leave an audit trail by going into the white market," states Mr Oborne.

He includes that people who use to place huge bets will never bet lawfully.

Approval concern

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

"Even though lots of individuals are associated with some sort of sports betting - it's still a questionable concern for numerous," says our unnamed punter.

And considered that India has a federal structural - each state will need to likewise pass a separate law to legalise sports betting gambling in their area.
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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 been endorsed by a main panel for the very first time, at least a debate has fired up around a topic - which previously was thought about a taboo.
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