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Howzat? The clamour to legalise sports betting wagering in India

5 February 2016

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 home situated in central Mumbai, a middle-aged man is watching the game, nervously. He's resting on the edge of his grey colour couch with his mobile phone glued to his ideal hand.

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

Five minutes earlier his money was on Australia, today 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 his prediction comes to life, as India wins the match in a nail-biting finish.

"I have actually made $200 today," he states with a childlike glee.
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For more than 3 decades he's been wagering on cricket matches. We can't expose his name as what he's doing is prohibited in India.
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Other than horse racing, sports betting wagering of any kind is not allowed in India. Despite that, prohibited sports betting distributes flourish in the nation.

'Black money'

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

With no legal opportunity, punters put 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 individual run scorer.

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

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

And overseas wagering business are utilizing this loophole to lure Indians. Despite the fact that there are no online wagering operators based out of India, a lot people have actually registered accounts with overseas firms.

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

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

Calls for legalisation

The clamour to legalise sports betting in cricket has grown after a panel selected by India's Supreme Court proposed the idea, stating it would help secure down on corruption in the nation's favourite sport.

The Justice RM Lodha Commission was established to suggest changes in the functioning of India's cricket regulatory 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 2 years after some gamers and team authorities were condemned of fixing parts of the match at the behest of bookies.
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The panel likewise argues that legalised sports betting will generate tax profits for the exchequer that might total up to $2bn a year.

Even gamblers feel that legalising sports betting wagering is a move in the right instructions.

"I don't mind paying some money out my revenues, as long as I can bet publicly," says our cricket bettor.
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It would likewise open a big company chance for licensed bookmakers and worldwide online wagering business to set up operations in India.

And it would help limit match repairing in cricket and other sports betting, argue many, by helping make deals involved in gambling more transparent.

"If you work together with wagering business, you will have an extremely effective technique of marking out match fixing," says George Oborne, who runs a mock sports betting site, India Bet.
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But lots of likewise think, that the taxes levied on the gambler and the bookie will need to be affordable to make it appealing enough for them to gamble legally.

However, there are constraints.
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"Definitely there will be unlawful wagering because (some) individuals would not desire to leave an audit path by getting in the white market," says Mr Oborne.

He adds that individuals who use unaccounted cash to position big bets will never gamble legally.

Approval concern

For sports betting gambling to be legalised, parliamentary approval will be needed to produce a new law, and politically this will be a tough idea to sell.

"Despite the fact that lots of people are associated with some sort of sports betting - it's still a questionable problem for numerous," states our unnamed punter.

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

"The process is so long and challenging that it will take years," says Mr Ranina."That's why, we are cynical about this becoming a reality anytime quickly."

Yet with the concept having been endorsed by a main panel for the very first time, at least a dispute has fired up around a topic - which till now was thought about a taboo.