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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 reporter
bit.ly
It is the last over of the cricket match, with India needing 17 go to win against Australia.

In his two-bedroom house located in central Mumbai, a middle-aged guy is watching the video 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 actually made more than 10 calls in the last thirty minutes - not to discuss the match however to keep revising his bet.

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

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

And a couple of minutes later on 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 childish glee.

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

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

'Black cash'

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

Without any legal opportunity, punters place bets using their phones by making calls to bookmakers. Gamblers can bank on anything associated to the cricket match, from who is winning to the greatest private run scorer.

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

The 1867 Public Gambling Act bars any kind of sports betting in India, but unlike in the US which has a law restricting internet sports betting, there is nothing comparable here.

And overseas sports betting business are utilizing this loophole to tempt Indians. Although there are no online sports betting operators based out of India, a lot people have signed up accounts with overseas firms.

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

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

Calls for 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 assist secure down on corruption in the country's favourite sport.

The Justice RM Lodha Commission was set up to recommend modifications 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 came to light.

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

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

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

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

It would likewise open a big company chance for certified bookies and global online wagering business to set up operations in India.

And it would assist restrict match repairing in cricket and other sports betting, argue numerous, by helping make deals associated with sports betting more transparent.

"If you work together with sports betting companies, you will have a very effective approach of stamping out match fixing," says George Oborne, who runs a mock wagering site, India Bet.

But lots of likewise believe, that the taxes imposed on the bettor and the bookie will need to be affordable to make it attractive enough for them to bet lawfully.

However, there are restrictions.

"Definitely there will be unlawful wagering since (some) individuals wouldn't want to leave an audit trail by getting in the white market," states Mr Oborne.

He includes that people who use unaccounted money to place huge bets will never bet lawfully.

Approval concern

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

"Despite the fact that many individuals are associated with some sort of gambling - it's still a controversial issue for numerous," states our unnamed punter.

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

"The process is so long and tricky 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 been backed by an official panel for the very first time, a minimum of a debate has actually fired up around a subject - which previously was thought about a taboo.