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Howzat? The to legalise sports betting wagering 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 man is viewing the video game, nervously. He's sitting on the edge of his grey colour couch with his smart phone glued to his right hand.

He has made more than 10 contact the last 30 minutes - not to discuss the match but to keep modifying his bet.

Five minutes previously his money was on Australia, now as the Indian batsman gets ready to deal with 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 finish.

"I have made $200 today," he says with a childish 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 prohibited in India.

Other than horse racing, sports betting wagering of any kind is not allowed India. Despite that, prohibited wagering distributes thrive in the nation.

'Black cash'
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According to the Doha-based International Centre for sports betting Security, India's prohibited sports betting wagering market deserves some $150bn a year. And much of that sports betting cash is directed towards cricket.

Without any legal opportunity, punters place bets using their phones by making calls to bookmakers. Gamblers can bank on anything associated to the cricket match, from who is winning to the greatest specific run scorer.

The majority of these transactions involve so-called "black money", which is cash not declared to the taxman.

The 1867 Public Gambling Act bars any sort of gambling in India, however unlike in the US which has a law forbiding web gambling, there is nothing similar here.

And overseas sports betting companies are utilizing this loophole to entice Indians. Although there are no online wagering operators based out of India, a lot individuals have actually signed up accounts with offshore firms.

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

But in spite of this, it is "offline gambling", done through call which control the marketplace.

Require legalisation

The clamour to legalise sports betting in cricket has grown after a panel selected by India's Supreme Court proposed the concept, saying it would help secure down on corruption in the country's preferred sport.

The Justice RM Lodha Commission was established to suggest modifications in the functioning of India's cricket regulatory body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal emerged.

Two franchises have been banned for 2 years after some players and team officials were condemned of repairing parts of the match at the wish of bookmakers.

The panel also argues that legalised sports betting will generate tax earnings for the exchequer that could total up to $2bn a year.

Even bettors feel that legalising sports betting wagering is a move in the ideal direction.

"I don't mind paying some cash out my profits, as long as I can gamble publicly," states our cricket bettor.

It would also open a huge organization opportunity for licensed bookies and international online wagering companies to set up operations in India.

And it would assist limit match fixing in cricket and other sports betting, argue numerous, by assisting make deals associated with sports betting more transparent.

"If you work alongside sports betting companies, you will have an extremely efficient approach of stamping out match repairing," says George Oborne, who runs a mock wagering website, India Bet.

But many likewise think, that the taxes levied on the bettor and the bookie will have to be affordable to make it attractive enough for them to bet legally.

However, there are limitations.

"Definitely there will be illegal wagering due to the fact that (some) people would not wish to leave an audit trail by going into the white market," says Mr Oborne.

He includes that individuals who use unaccounted cash to put big bets will never bet legally.

Approval concern

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

"Despite the fact that many individuals are associated with some sort of sports betting - it's still a controversial concern for many," says our unnamed punter.

And considered that India has a federal structural - each state will have to also pass a separate law to legalise sports betting gambling in their area.
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"The process is so long and challenging that it will take years," states Mr Ranina."That's why, we are cynical about this coming true anytime soon."

Yet with the concept having been endorsed by a main panel for the first time, at least an argument has sparked around a subject - which until now was thought about a taboo.
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