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Howzat? The clamour to legalise sports betting wagering in India
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5 February 2016

By Sameer Hashmi

Mumbai Business press reporter

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

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

He has made more than 10 contact the last thirty minutes - not to discuss the match however to keep revising his bet.
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Five minutes earlier his money was on Australia, today as the Indian batsman prepares yourself to deal with the last over he's changed his mind.

"I think India is winning, make the modification," he informs his bookie on the phone.

And a few minutes later his forecast 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.
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For more than three years he's been banking on cricket matches. We can't expose his name as what he's doing is prohibited in India.

Other than horse racing, sports betting wagering of any kind is not allowed India. Despite that, prohibited sports betting distributes grow in the nation.

'Black cash'

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 opportunity, punters put bets using their phones by making calls to bookmakers. Gamblers can wager on anything related to the cricket match, from who is winning to the greatest specific run scorer.

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

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

And offshore wagering companies are using this loophole to lure Indians. Despite the fact that there are no online wagering operators based out of India, a lot individuals have actually signed up accounts with offshore companies.

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

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

Require legalisation

The clamour to legalise wagering in cricket has actually grown after a panel selected by India's Supreme Court proposed the idea, stating it would assist secure down on corruption in the nation's preferred sport.
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The Justice RM Lodha Commission was set up to suggest modifications in the functioning of India's cricket regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League sports betting scandal came to light.

Two franchises have been prohibited for 2 years after some gamers and group officials were found guilty of fixing parts of the match at the wish of bookies.

The panel also 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 is a relocation in the right direction.

"I do not mind paying some cash out my profits, as long as I can gamble publicly," states our cricket bettor.

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

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

"If you work alongside sports betting companies, you will have a very effective method of marking out match repairing," says George Oborne, who runs a mock sports betting site, India Bet.

But many likewise think, that the taxes imposed on the gambler and the bookmaker will have to be reasonable to make it attractive enough for them to bet lawfully.

However, there are restrictions.

"Definitely there will be illegal sports betting because (some) people wouldn't desire to leave an audit trail by getting in the white market," states Mr Oborne.

He includes that individuals who use unaccounted cash to place big bets will never ever gamble legally.

Approval concern

For sports betting gambling to be legalised, parliamentary approval will be required to develop a new law, and politically this will be a tough idea to offer.

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

And considered that India has a - each state will have to also pass a different law to legalise sports betting in their territory.

"The procedure is so long and tricky that it will take years," says Mr Ranina."That's why, we are negative about this coming true anytime soon."

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