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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 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 guy is enjoying the game, nervously. He's resting on the edge of his grey colour couch with his cellphone glued to his ideal hand.

He has made more than 10 employ the last 30 minutes - not to go over the match however to keep modifying his bet.

Five minutes earlier his cash was on Australia, now as the Indian batsman prepares to face 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 prediction comes real, as India wins the match in a nail-biting surface.

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

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

Other than horse racing, sports betting wagering of any kind is not permitted in India. Despite that, prohibited sports betting syndicates grow in the country.

'Black money'

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

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

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

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

And offshore wagering companies are using this loophole to entice Indians. Although there are no online wagering operators based out of India, a lot individuals have actually registered accounts with offshore companies.

"Legally you can escape [with this], as the law is unclear for online sports betting," states Mumbai- based lawyer HP Ranina.

But regardless of this, it is "offline sports betting", done through telephone call which dominate the market.

Calls for legalisation

The clamour to legalise sports betting in cricket has actually grown after a panel designated by India's Supreme Court proposed the concept, saying it would help clamp down on corruption in the country's favourite 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 actually been prohibited for two years after some gamers and team authorities were condemned of fixing parts of the match at the wish of bookmakers.

The panel likewise argues that legalised wagering will generate tax revenues for the exchequer that could amount to $2bn a year.

Even bettors feel that legalising sports betting is a move in the ideal instructions.

"I don't mind paying some money out my revenues, as long as I can bet publicly," states our cricket gambler.

It would likewise open a big business opportunity for certified bookies and worldwide business to set up operations in India.

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

"If you work together with wagering companies, you will have an extremely efficient approach of stamping out match fixing," says George Oborne, who runs a mock wagering website, India Bet.

But numerous also think, that the taxes levied on the gambler and the bookie will have to be reasonable to make it appealing enough for them to bet legally.

However, there are constraints.

"Definitely there will be prohibited wagering since (some) individuals wouldn't desire to leave an audit path by entering the white market," states Mr Oborne.

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

Approval concern

For sports betting to be legalised, parliamentary approval will be required to develop a brand-new law, and politically this will be a hard concept to sell.

"Even though numerous individuals are included in some sort of gambling - it's still a questionable issue for lots of," states our unnamed punter.

And offered that India has a federal structural - each state will have to likewise pass a separate law to legalise sports betting gambling 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 ending up being a reality anytime quickly."

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