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Howzat? The clamour to legalise sports betting in India
5 February 2016
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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 situated in central Mumbai, a middle-aged male is watching the video game, nervously. He's resting on the edge of his grey colour couch with his smart phone glued to his ideal hand.
He has actually made more than 10 employ the last thirty minutes - not to discuss the match however to keep revising his bet.
Five minutes previously his cash was on Australia, today as the Indian batsman prepares yourself to deal with the last over he's changed his mind.
"I think India is winning, make the change," he informs his bookmaker on the phone.
And a few minutes later his prediction becomes a reality, 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 3 years he's been banking on cricket matches. We can't expose his name as what he's doing is unlawful in India.
Aside from horse racing, sports betting of any kind is not allowed India. Despite that, illegal sports betting syndicates thrive in the nation.
'Black money'
According to the Doha-based International Centre for sports betting Security, India's prohibited sports betting wagering market is worth some $150bn a year. And much of that sports betting cash is directed towards cricket.
Without any legal avenue, punters place 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 highest private run scorer.
Most of these deals include so-called "black cash", which is money not declared 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 gambling, there is nothing comparable here.
And offshore wagering 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 actually registered accounts with overseas firms.
"Legally you can get away [with this], as the law is unclear for online gambling," states Mumbai- based legal representative HP Ranina.
But in spite of this, it is "offline sports betting", done through call which dominate the market.
Calls for legalisation
The clamour to legalise sports betting in cricket has grown after a panel appointed by India's Supreme Court proposed the concept, saying it would assist clamp down on corruption in the country's favourite sport.
The Justice RM Lodha Commission was set up to recommend modifications in the performance of India's cricket regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal emerged.
Two franchises have actually been banned for 2 years after some players and group officials were condemned of repairing parts of the match at the behest of bookmakers.
The panel likewise argues that legalised sports betting will generate tax profits for the exchequer that might total up to $2bn a year.
Even gamblers feel that legalising sports betting wagering is a move in the ideal instructions.
"I don't mind paying some cash out my earnings, as long as I can gamble openly," states our cricket bettor.
It would also open a substantial organization chance for licensed bookies and international online sports betting business to set up operations in India.
And it would assist restrict match repairing in cricket and other sports betting, argue lots of, by assisting make transactions associated with sports betting more transparent.
"If you work together with sports betting companies, you will have a very efficient method of marking out match repairing," says George Oborne, who runs a mock wagering site, India Bet.
But many likewise think, that the taxes levied on the gambler and the bookmaker will have to be sensible to make it attractive enough for them to bet legally.
However, there are limitations.
"Definitely there will be prohibited sports betting because (some) individuals would not want to leave an audit path by getting in the white market," says Mr Oborne.
He includes that people who utilize unaccounted money to place huge bets will never ever bet lawfully.
Approval concern
For sports betting to be legalised, parliamentary approval will be required to develop a brand-new law, and politically this will be a tough idea to offer.
"Even however lots of individuals are involved in some sort of gambling - it's still a questionable concern for numerous," says our unnamed punter.
And provided that India has a federal structural - each state will have to also pass a different law to legalise sports betting in their .
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"The procedure is so long and tricky that it will take years," says Mr Ranina."That's why, we are cynical about this becoming a truth anytime soon."
Yet with the concept having actually been backed by a main panel for the very first time, a minimum of a dispute has fired up around a topic - which previously was considered a taboo.
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For Sports Gambling to Be Legalised
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