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Howzat? The to legalise sports betting in India

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5 February 2016

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By Sameer Hashmi

Mumbai Business reporter

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

In his two-bedroom home situated in central Mumbai, a middle-aged guy is enjoying the video 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 made more than 10 employ the last 30 minutes - not to discuss the match but to keep modifying his bet.

Five minutes previously his money was on Australia, today as the Indian batsman prepares to deal with the last over he's altered his mind.
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"I believe India is winning, make the change," he informs his bookie on the phone.

And a couple of minutes later his prediction comes real, 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 decades he's been banking on cricket matches. We can't reveal his name as what he's doing is illegal in India.

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

'Black money'

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 cash is directed towards cricket.

With no legal opportunity, punters position bets using their phones by making calls to bookies. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest specific run scorer.

Most of these deals involve so-called "black cash", which is money 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 prohibiting web sports betting, there is nothing comparable here.

And overseas wagering business are utilizing this loophole to draw Indians. Even though there are no online wagering operators based out of India, a lot individuals have actually signed up accounts with overseas companies.

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

But despite this, it is "offline gambling", done through call which dominate the marketplace.

Calls for legalisation

The clamour to legalise sports betting 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 country's preferred sport.

The Justice RM Lodha Commission was established to recommend changes in the performance 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.
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Two franchises have actually been banned for two years after some players and team officials were discovered guilty of repairing parts of the match at the wish of bookmakers.

The panel also argues that legalised wagering will bring in tax incomes for the exchequer that might total up 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 revenues, as long as I can bet openly," says our cricket bettor.

It would likewise open a substantial business opportunity for licensed bookmakers and worldwide 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 assisting make deals involved in sports betting more transparent.

"If you work along with sports betting business, you will have an extremely efficient method of stamping out match repairing," 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 bookmaker will need to be reasonable to make it attractive enough for them to bet lawfully.

However, there are limitations.

"Definitely there will be prohibited sports betting since (some) people wouldn't desire to leave an audit trail by going into the white market," says Mr Oborne.

He includes that people who use unaccounted cash to put big bets will never bet lawfully.

Approval concern

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

"Even however many individuals are included in some sort of gaming - it's still a controversial problem for lots of," says 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 in their area.

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

Yet with the idea having actually been endorsed by an official panel for the very first time, at least a debate has actually ignited around a topic - which previously was thought about a taboo.
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