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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 versus Australia.
In his two-bedroom house situated in central Mumbai, a middle-aged guy is watching the video game, nervously. He's resting on the edge of his grey colour sofa with his cellphone 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, however now as the Indian batsman prepares to face the last over he's changed his mind.
"I think India is winning, make the modification," he informs his bookmaker on the phone.
And a couple of minutes later on his prediction comes to life, as India wins the match in a nail-biting surface.
"I have made $200 today," he says with a childlike glee.
For more than 3 decades he's been wagering 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 allowed India. Despite that, unlawful wagering distributes flourish in the country.
'Black money'
According to the Doha-based International Centre for sports betting Security, India's prohibited sports betting market is worth some $150bn a year. And much of that sports betting money is directed towards cricket.
Without any legal avenue, punters position bets using their phones by making calls to bookmakers. Gamblers can bank on anything related to the cricket match, from who is winning to the greatest individual run scorer.
Most of these deals involve so-called "black money", which is money not stated to the taxman.
The 1867 Public Gambling Act bars any kind of gaming in India, but unlike in the US which has a law restricting web gaming, there is absolutely nothing comparable here.
And overseas sports betting business are utilizing this loophole to draw Indians. Despite the fact that there are no online sports betting operators based out of India, a lot people have signed up accounts with offshore companies.
"Legally you can get away [with this], as the law is ambiguous for online gaming," states Mumbai- based lawyer HP Ranina.
But despite this, it is "offline gambling", done through phone calls which dominate the marketplace.
Calls for legalisation
The clamour to legalise wagering in cricket has actually grown after a panel designated by India's Supreme Court proposed the idea, stating it would assist clamp down on corruption in the country's favourite sport.
The Justice RM Lodha Commission was established to recommend 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 came to light.
Two franchises have been banned for two years after some players and group officials were condemned of fixing parts of the match at the behest of bookies.
The panel likewise argues that legalised wagering will generate tax earnings for the exchequer that might amount to $2bn a year.
Even bettors feel that legalising sports betting is a move in the best direction.
"I do not mind paying some cash out my earnings, as long as I can bet publicly," says our cricket bettor.
It would likewise open a huge organization opportunity for licensed bookies 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 numerous, by helping make deals associated with gambling more transparent.
"If you work alongside wagering companies, you will have an extremely reliable method of stamping out match repairing," states George Oborne, who runs a mock wagering website, India Bet.
But many also think, that the taxes levied on the gambler and the bookie will need to be sensible to make it appealing enough for them to gamble legally.
However, there are restrictions.
"Definitely there will be unlawful sports betting since (some) individuals wouldn't wish to leave an audit trail by getting in the white market," states Mr Oborne.
He adds that individuals who use unaccounted cash to big bets will never gamble lawfully.
Approval concern
For sports betting to be legalised, parliamentary approval will be required to produce a brand-new law, and politically this will be a difficult idea to offer.
"Despite the fact that many individuals are associated with some sort of gambling - it's still a controversial concern for lots of," states our unnamed punter.
And offered that India has a federal structural - each state will need to also pass a separate law to legalise sports betting in their territory.
"The procedure is so long and challenging that it will take years," says Mr Ranina."That's why, we are negative about this coming true anytime quickly."
Yet with the concept having been backed by a main panel for the very first time, at least a debate has actually sparked around a topic - which till now was thought about a taboo.
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