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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 house situated in central Mumbai, a middle-aged man is seeing the game, nervously. He's resting on the edge of his grey colour couch with his smart phone glued to his right-hand man.
He has actually made more than 10 hire the last thirty minutes - not to go over the match but to keep revising his bet.
Five minutes earlier his money was on Australia, today as the Indian batsman prepares 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 his forecast becomes a reality, as India wins the match in a nail-biting finish.
"I have 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 in India.
Besides horse racing, sports betting of any kind is not allowed India. Despite that, illegal sports betting syndicates grow 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 put bets utilizing their phones by making calls to bookies. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest private run scorer.
The majority of these transactions include so-called "black money", which is money not stated to the taxman.
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The 1867 Public Gambling Act bars any type of sports betting in India, however unlike in the US which has a law restricting internet gambling, there is nothing comparable here.
And overseas sports betting business are utilizing this loophole to lure Indians. Although there are no online sports betting operators based out of India, a lot people have actually registered accounts with overseas firms.
"Legally you can get away [with this], as the law is unclear for online sports betting," states Mumbai- based attorney HP Ranina.
But regardless of this, it is "offline gaming", done through telephone call which dominate the marketplace.
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Calls for legalisation
The clamour to legalise wagering in cricket has actually grown after a panel appointed by India's Supreme Court proposed the concept, stating it would help secure down on corruption in the nation's favourite sport.
The Justice RM Lodha Commission was set up to recommend modifications 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 emerged.
Two franchises have actually been prohibited for 2 years after some gamers and group officials were condemned of fixing parts of the match at the request of bookmakers.
The panel also argues that legalised wagering will bring in tax earnings for the exchequer that might amount to $2bn a year.
Even bettors feel that legalising sports betting is a relocation in the right direction.
"I don't mind paying some cash out my earnings, as long as I can bet publicly," states our cricket gambler.
It would also open a huge company opportunity for certified bookmakers and international online sports betting companies to establish operations in India.
And it would help limit match repairing in cricket and other sports betting, argue lots of, by helping make deals included in sports betting more transparent.
"If you work alongside wagering business, you will have a very efficient technique of stamping out match fixing," says George Oborne, who runs a mock wagering site, India Bet.
But lots of also think, that the taxes imposed on the gambler and the bookie will need to be reasonable to make it attractive enough for them to gamble legally.
However, there are constraints.
"Definitely there will be unlawful wagering because (some) individuals wouldn't wish to leave an audit path by entering the white market," states Mr Oborne.
He adds that individuals who utilize unaccounted cash to put huge bets will never gamble legally.
Approval concern
For sports betting to be legalised, parliamentary approval will be required to produce a new law, and politically this will be a difficult idea to offer.
"Even however lots of people are involved in some sort of gaming - it's still a questionable problem for numerous," states 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 gambling in their area.
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"The procedure is so long and difficult that it will take years," states Mr Ranina."That's why, we are cynical about this ending up being a reality anytime quickly."
Yet with the idea having actually been backed by an official panel for the very first time, at least a debate has actually fired up around a subject - which until now was considered a taboo.
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For Sports Gambling to Be Legalised
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