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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 runs to win versus Australia.

In his situated in central Mumbai, a middle-aged guy is seeing the game, nervously. He's sitting on the edge of his grey colour sofa with his smart phone glued to his right hand.

He has actually made more than 10 hire the last 30 minutes - not to discuss the match but to keep modifying his bet.

Five minutes earlier his money was on Australia, and now as the Indian batsman prepares 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 forecast comes true, as India wins the match in a nail-biting surface.

"I have made $200 today," he says with a childlike 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 unlawful in India.

Aside from horse racing, sports betting of any kind is not allowed India. Despite that, illegal sports betting syndicates prosper in the nation.

'Black money'

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

With no legal avenue, punters position bets utilizing their phones by making calls to bookies. Gamblers can wager on anything related to the cricket match, from who is winning to the greatest private run scorer.

The majority of these deals involve so-called "black money", which is money not stated to the taxman.

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

And offshore sports betting business are using this loophole to draw Indians. Although there are no online wagering operators based out of India, a lot individuals have actually signed up accounts with offshore firms.

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

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

Require legalisation

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

The Justice RM Lodha Commission was established to recommend 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 sports betting scandal emerged.

Two franchises have actually been prohibited for 2 years after some gamers and team officials were discovered guilty of fixing parts of the match at the request of bookies.

The panel also argues that legalised sports betting will bring in tax profits for the exchequer that could amount to $2bn a year.

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

"I don't mind paying some cash out my earnings, as long as I can gamble publicly," states our cricket gambler.

It would likewise open a substantial business opportunity for certified bookies and worldwide online sports betting business to establish operations in India.

And it would help limit match fixing in cricket and other sports betting, argue lots of, by assisting make transactions associated with sports betting more transparent.

"If you work along with sports betting companies, you will have an extremely efficient approach of stamping out match repairing," states George Oborne, who runs a mock wagering site, India Bet.

But numerous likewise believe, that the taxes levied on the bettor and the bookmaker will have to be affordable to make it attractive enough for them to bet lawfully.

However, there are limitations.

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

He adds that individuals who use unaccounted cash to put huge bets will never bet legally.

Approval question

For sports betting gambling to be legalised, parliamentary approval will be needed to create a new law, and politically this will be a difficult concept to sell.

"Even however lots of people are associated with some sort of gaming - it's still a controversial concern for many," says our unnamed punter.

And provided that India has a federal structural - each state will have to likewise pass a different law to legalise sports betting in their area.
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"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 idea having been endorsed by an official panel for the very first time, at least a dispute has actually ignited around a subject - which up until now was considered a taboo.
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