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Howzat? The clamour to legalise sports betting in India

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bit.ly
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 go to win against Australia.

In his two-bedroom house situated in main Mumbai, a middle-aged male is viewing the video game, nervously. He's sitting 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 talk about the match but to keep modifying his bet.

Five minutes previously his cash was on Australia, today as the Indian batsman prepares yourself to face the last over he's changed his mind.

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

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

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

For more than 3 years 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 distributes prosper in the nation.

'Black cash'

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

Without any 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 highest private run scorer.

Most of these deals 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 similar here.

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

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

But in spite of this, it is "offline sports betting", done through call which dominate the market.

Require legalisation

The clamour to legalise sports betting in cricket has actually grown after a panel appointed by India's Supreme Court proposed the idea, saying it would help secure down on corruption in the country's favourite 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 actually been prohibited for two years after some gamers and group authorities were condemned of fixing parts of the match at the wish of bookies.

The panel also argues that legalised sports betting will bring in 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 best direction.

"I don't mind paying some money out my earnings, as long as I can gamble openly," says our cricket bettor.

It would likewise open a huge service chance for certified bookmakers and international online wagering business to set up operations in India.

And it would assist restrict match fixing in cricket and other sports betting, argue many, by helping make transactions involved in sports betting more transparent.

"If you work alongside wagering companies, you will have a really effective approach of marking out match fixing," states George Oborne, who runs a mock wagering website, India Bet.

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

However, there are limitations.

"Definitely there will be prohibited sports betting because (some) individuals would not desire to leave an audit path by going into the white market," states Mr Oborne.

He includes that individuals who use unaccounted money to put big bets will never bet lawfully.

Approval question

For sports betting to be legalised, parliamentary approval will be needed to create a brand-new law, and politically this will be a tough idea to sell.

"Although many individuals are included in some sort of gaming - it's still a controversial issue for lots of," states our unnamed punter.

And considered that India has a federal structural - each state will need to likewise pass a different law to legalise sports betting gambling in their area.
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"The procedure is so long and difficult that it will take years," says Mr Ranina."That's why, we are negative about this becoming a reality anytime quickly."

Yet with the concept having actually been backed by an official panel for the very first time, a minimum of an argument has actually sparked around a subject - which till now was thought about a taboo.