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Howzat? The clamour to legalise sports betting wagering in India

5 February 2016

By Sameer Hashmi

Mumbai Business reporter

It is the last over of the cricket match, with India requiring 17 go to win versus Australia.

In his two-bedroom home located in main Mumbai, a middle-aged male is seeing the video game, nervously. He's resting on the edge of his grey colour couch with his mobile phone glued to his right-hand man.

He has actually made more than 10 employ the last thirty minutes - not to talk about the match however to keep revising his bet.

Five minutes earlier his money was on Australia, however now as the Indian batsman gets prepared to deal with the last over he's altered his mind.

"I think India is winning, make the change," he informs his bookie on the phone.
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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 childlike glee.

For more than 3 years he's been wagering on cricket matches. We can't expose his name as what he's doing is prohibited in India.

Other than horse racing, sports betting of any kind is not enabled in India. Despite that, illegal wagering syndicates prosper in the nation.

'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 sports betting money is directed towards cricket.
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Without any legal opportunity, punters put bets using their phones by making calls to bookmakers. Gamblers can wager on anything associated to the cricket match, from who is winning to the highest private run scorer.

The majority of these transactions involve so-called "black cash", which is cash not declared 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 forbiding internet sports betting, there is nothing comparable here.

And offshore wagering companies are using this loophole to tempt Indians. Despite the fact that there are no online sports betting operators based out of India, a lot individuals have actually registered accounts with offshore companies.

"Legally you can get away [with this], as the law is ambiguous for online sports betting," says Mumbai- based lawyer HP Ranina.
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But regardless of this, it is "offline sports betting", done through telephone call which control the marketplace.

Calls for legalisation

The clamour to legalise wagering in has grown after a panel appointed by India's Supreme Court proposed the idea, stating it would assist secure down on corruption in the nation's favourite sport.

The Justice RM Lodha Commission was established to suggest changes 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 emerged.

Two franchises have actually been banned for 2 years after some players and team officials were condemned of fixing parts of the match at the wish of bookmakers.
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The panel likewise argues that legalised wagering will generate tax incomes for the exchequer that might total up to $2bn a year.

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

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

It would also open a big business opportunity for licensed bookmakers and international online wagering business to establish operations in India.

And it would help limit match repairing in cricket and other sports betting, argue many, by assisting make transactions associated with gambling more transparent.
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"If you work alongside sports betting business, you will have an extremely efficient method of stamping out match fixing," states George Oborne, who runs a mock sports betting website, India Bet.

But lots of likewise think, that the taxes levied on the gambler and the bookie will have to be affordable to make it appealing enough for them to gamble lawfully.

However, there are limitations.

"Definitely there will be illegal sports betting due to the fact that (some) individuals wouldn't want to leave an audit trail by entering the white market," says Mr Oborne.
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He adds that individuals who utilize unaccounted cash to position huge bets will never ever bet legally.
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Approval concern

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

"Although many individuals are associated with some sort of gambling - it's still a controversial problem for numerous," says our unnamed punter.

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

"The procedure is so long and difficult that it will take years," states Mr Ranina."That's why, we are cynical about this coming true anytime quickly."

Yet with the idea having actually been backed by an official panel for the very first time, at least an argument has actually ignited around a subject - which previously was considered a taboo.