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Howzat? The clamour to legalise sports betting in India

5 February 2016

By Sameer Hashmi

Mumbai Business reporter

It is the last over of the cricket match, with India needing 17 runs to win versus Australia.
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In his two-bedroom home located in central Mumbai, a middle-aged man is enjoying the game, nervously. He's sitting on the edge of his grey colour sofa with his mobile phone glued to his right-hand man.

He has made more than 10 employ the last thirty minutes - not to go over the match but to keep revising his bet.

Five minutes earlier his money was on Australia, now as the Indian batsman prepares to face the last over he's altered his mind.

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

And a few minutes later on his forecast comes to life, as India wins the match in a nail-biting surface.

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

For more than 3 years he's been sports betting on cricket matches. We can't reveal his name as what he's doing is unlawful in India.

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

'Black cash'

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

With no legal avenue, punters place bets utilizing their phones by making calls to bookmakers. Gamblers can wager 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 cash", which is money not stated to the taxman.

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

And overseas sports betting companies are utilizing this loophole to draw Indians. Although there are no online wagering operators based out of India, a lot individuals have actually registered accounts with overseas companies.

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

But regardless of this, it is "offline gaming", done through phone calls which control the marketplace.

Require legalisation

The clamour to legalise sports betting in cricket has grown after a panel designated by India's Supreme Court proposed the idea, stating it would help clamp down on corruption in the nation'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 sports betting scandal came to light.

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

The panel also argues that legalised wagering will generate tax revenues for the exchequer that might total up to $2bn a year.

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

"I do not mind paying some money out my revenues, as long as I can gamble openly," says our cricket gambler.

It would also open a big business opportunity for certified bookies and international online wagering companies to establish 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 alongside wagering business, you will have an extremely effective technique of stamping out match repairing," states George Oborne, who runs a mock sports betting site, India Bet.

But numerous likewise believe, that the taxes levied on the bettor and the bookie will need to be reasonable to make it attractive enough for them to gamble lawfully.

However, there are restrictions.
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"Definitely there will be illegal wagering due to the fact that (some) individuals would not desire to leave an audit trail by getting in the white market," says Mr Oborne.

He includes that individuals who utilize unaccounted money to put huge bets will never ever gamble lawfully.

Approval concern

For sports betting gambling to be legalised, parliamentary approval will be needed to create a law, and politically this will be a tough idea to sell.
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"Even though many individuals are associated with some sort of sports betting - it's still a questionable concern for numerous," states our unnamed punter.

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

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

Yet with the concept having actually been backed by an official panel for the first time, a minimum of a dispute has ignited around a subject - which until now was considered a taboo.
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