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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 needing 17 runs to win against Australia.
In his two-bedroom home situated in main Mumbai, a middle-aged guy is enjoying the video game, nervously. He's on the edge of his grey colour sofa with his cellphone glued to his right-hand man.
He has made more than 10 contact the last 30 minutes - not to go over the match however to keep revising his bet.
Five minutes previously his cash was on Australia, however now as the Indian batsman prepares to face the last over he's altered his mind.
"I believe India is winning, make the modification," he tells his bookmaker on the phone.
And a few minutes later on his prediction comes real, as India wins the match in a nail-biting finish.
"I have actually made $200 today," he says 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 illegal in India.
Other than horse racing, sports betting wagering of any kind is not enabled in India. Despite that, prohibited sports betting syndicates grow in the nation.
'Black money'
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 place bets utilizing their phones by making calls to bookmakers. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest individual run scorer.
Most of these transactions include so-called "black cash", which is money not stated to the taxman.
The 1867 Public Gambling Act bars any kind of gambling in India, however unlike in the US which has a law restricting internet gaming, there is absolutely nothing similar here.
And overseas sports betting business are using this loophole to tempt Indians. Despite the fact that there are no online wagering operators based out of India, a lot individuals have actually registered accounts with offshore firms.
"Legally you can get away [with this], as the law is ambiguous for online gambling," states Mumbai- based legal representative HP Ranina.
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But despite this, it is "offline gambling", done through phone calls which dominate the market.
Require legalisation
The clamour to legalise wagering in cricket has actually grown after a panel appointed by India's Supreme Court proposed the concept, saying it would assist clamp down on corruption in the nation's preferred sport.
The Justice RM Lodha Commission was set up to suggest 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 emerged.
Two franchises have been prohibited for two years after some players and group authorities were discovered guilty of fixing parts of the match at the behest of bookies.
The panel likewise argues that legalised wagering will generate tax incomes 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 profits, as long as I can bet openly," says our cricket bettor.
It would likewise open a huge business opportunity for certified bookies and international online wagering business to establish operations in India.
And it would assist restrict match fixing in cricket and other sports betting, argue many, by helping make deals involved in sports betting more transparent.
"If you work along with sports betting business, you will have a very efficient method of stamping out match repairing," says George Oborne, who runs a mock sports betting site, India Bet.
But many likewise think, that the taxes levied on the gambler and the bookie will need to be sensible to make it attractive enough for them to gamble legally.
However, there are restrictions.
"Definitely there will be unlawful wagering since (some) individuals would not want to leave an audit trail by entering the white market," states Mr Oborne.
He adds that people who use unaccounted cash to put huge bets will never ever gamble lawfully.
Approval question
For sports betting to be legalised, parliamentary approval will be required to produce a new law, and politically this will be a hard idea to offer.
"Despite the fact that many individuals are associated with some sort of gambling - it's still a questionable concern for numerous," states our unnamed punter.
And given that India has a federal structural - each state will need to also pass a separate law to legalise sports betting in their area.
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"The procedure is so long and challenging that it will take years," states Mr Ranina."That's why, we are negative about this ending up being a truth anytime quickly."
Yet with the idea having actually been endorsed by an official panel for the very first time, at least an argument has actually ignited around a topic - which till now was thought about a taboo.
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For Sports Gambling to Be Legalised
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