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Howzat? The clamour to legalise sports betting wagering 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 requiring 17 runs to win versus Australia.

In his two-bedroom home situated in main Mumbai, a middle-aged male is seeing the game, nervously. He's resting on the edge of his grey colour couch with his cellphone glued to his right-hand man.
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He has made more than 10 contact the last 30 minutes - not to go over the match but to keep modifying his bet.

Five minutes earlier his money was on Australia, and now as the Indian batsman prepares to deal with the last over he's changed his mind.

"I believe India is winning, make the change," he tells his bookie on the phone.

And a few minutes later on his prediction becomes a reality, as India wins the match in a nail-biting surface.

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

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

Besides horse racing, sports betting of any kind is not allowed India. Despite that, sports betting distributes thrive in the country.

'Black money'

According to the Doha-based International Centre for sports betting Security, India's unlawful sports betting wagering market deserves some $150bn a year. And much of that sports betting money is directed towards cricket.
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Without any legal opportunity, punters position bets using their phones by making calls to bookies. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest specific run scorer.

The majority of these transactions involve so-called "black cash", which is cash not stated to the taxman.
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The 1867 Public Gambling Act bars any sort of gambling in India, but unlike in the US which has a law restricting web gaming, there is nothing comparable here.

And overseas wagering business are utilizing this loophole to entice Indians. Even though there are no online sports betting operators based out of India, a lot individuals have registered accounts with overseas firms.

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

But despite this, it is "offline gambling", done through call which control the marketplace.

Require legalisation

The clamour to legalise wagering in cricket has actually grown after a panel appointed by India's Supreme Court proposed the idea, stating it would help clamp down on corruption in the nation's preferred sport.

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 players and group officials were found guilty of fixing parts of the match at the behest of bookies.

The panel likewise argues that legalised sports betting will bring in tax revenues for the exchequer that might amount to $2bn a year.

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

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

It would also open a huge company chance for certified bookies and worldwide online sports betting companies to set up operations in India.

And it would assist restrict match repairing in cricket and other sports betting, argue lots of, by assisting make transactions involved in sports betting more transparent.

"If you work together with wagering companies, you will have a really reliable technique of stamping out match fixing," states George Oborne, who runs a mock sports betting site, India Bet.

But lots of also think, that the taxes imposed on the gambler and the bookie will have to be affordable to make it appealing enough for them to bet legally.

However, there are restrictions.

"Definitely there will be illegal sports betting due to the fact that (some) individuals wouldn't want to leave an audit trail by going into the white market," states Mr Oborne.

He includes that individuals who use unaccounted cash to position huge bets will never bet legally.

Approval concern

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

"Despite the fact that lots of people are associated with some sort of gambling - it's still a controversial concern for lots of," says our unnamed punter.

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

"The procedure is so long and difficult that it will take years," states Mr Ranina."That's why, we are negative about this ending up being a truth anytime soon."

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