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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
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It is the last over of the cricket match, with India needing 17 go to win against Australia.
In his two-bedroom home located in central Mumbai, a middle-aged guy is enjoying the game, nervously. He's resting on the edge of his grey colour couch with his mobile phone glued to his right hand.
He has actually made more than 10 hire the last 30 minutes - not to discuss the match however to keep revising his bet.
Five minutes previously his cash was on Australia, now as the Indian batsman gets prepared to face the last over he's changed his mind.
"I think India is winning, make the modification," he informs his bookie on the phone.
And a few minutes later his forecast becomes a reality, as India wins the match in a nail-biting surface.
"I have made $200 today," he says with a childlike glee.
For more than three years he's been banking on cricket matches. We can't expose his name as what he's doing is unlawful in India.
Besides horse racing, sports betting wagering of any kind is not enabled in India. Despite that, unlawful wagering syndicates prosper 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 money is directed towards cricket.
Without any legal opportunity, punters place bets using their phones by making calls to bookmakers. Gamblers can wager on anything related to the cricket match, from who is winning to the highest private run scorer.
Most of these transactions include so-called "black money", which is money not stated to the taxman.
The 1867 Public Gambling Act bars any type of gambling in India, however unlike in the US which has a law restricting internet sports betting, there is nothing comparable here.
And overseas sports betting business are utilizing this loophole to lure Indians. Even though there are no online sports betting operators based out of India, a lot individuals have registered accounts with overseas companies.
"Legally you can escape [with this], as the law is ambiguous for online sports betting," states Mumbai- based legal representative HP Ranina.
But despite this, it is "offline gambling", done through call which control the market.
Require legalisation
The clamour to legalise wagering in cricket has grown after a panel designated by India's Supreme Court proposed the idea, saying it would help secure down on corruption in the nation's favourite sport.
The Justice RM Lodha Commission was set up to recommend 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 sports betting scandal emerged.
Two franchises have actually been banned for 2 years after some gamers and team authorities were discovered guilty of fixing parts of the match at the request of bookmakers.
The panel likewise argues that legalised sports betting will bring in tax incomes for the exchequer that might total up to $2bn a year.
Even gamblers feel that legalising sports betting is a move in the right instructions.
"I don't mind paying some cash out my revenues, as long as I can gamble publicly," states our cricket bettor.
It would also open a huge company chance for certified bookmakers and international online wagering companies to establish operations in India.
And it would assist limit match fixing in cricket and other sports betting, argue lots of, by helping make deals associated with gambling more transparent.
"If you work alongside wagering companies, you will have a very effective method of marking out match fixing," states George Oborne, who runs a mock wagering website, India Bet.
But numerous likewise think, that the taxes imposed on the bettor and the bookmaker will need to be affordable to make it attractive enough for them to gamble legally.
However, there are limitations.
"Definitely there will be unlawful wagering because (some) individuals wouldn't desire to leave an audit trail by entering the white market," states Mr Oborne.
He adds that individuals who utilize unaccounted money to position huge bets will never gamble legally.
Approval question
For sports betting gambling to be legalised, parliamentary approval will be needed to produce a new law, and politically this will be a tough idea to sell.
"Although many individuals are involved in some sort of sports betting - it's still a controversial problem for numerous," says our unnamed punter.
And given that India has a - each state will need to also pass a different law to legalise sports betting in their territory.
"The process is so long and difficult that it will take years," says Mr Ranina."That's why, we are negative about this becoming a reality anytime quickly."
Yet with the idea having actually been endorsed by a main panel for the very first time, a minimum of a debate has actually sparked around a topic - which previously was considered a taboo.
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