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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 reporter
It is the last over of the cricket match, with India requiring 17 runs to win versus Australia.
In his two-bedroom home located in main Mumbai, a middle-aged man is seeing the video 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 calls in the last 30 minutes - not to go over the match however to keep revising his bet.
Five minutes previously his cash was on Australia, and now as the Indian batsman prepares to face the last over he's changed his mind.
"I believe India is winning, make the change," he informs his bookie on the phone.
And a couple of minutes later his prediction 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 3 decades 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 wagering of any kind is not allowed India. Despite that, unlawful wagering syndicates grow in the nation.
'Black money'
According to the Doha-based International Centre for sports betting Security, India's illegal sports betting market deserves some $150bn a year. And much of that gambling cash is directed towards cricket.
Without any legal opportunity, punters position bets using their phones by making calls to bookies. Gamblers can bank on anything related to the cricket match, from who is winning to the highest specific run scorer.
The majority of these deals involve so-called "black cash", which is money not stated to the taxman.
The 1867 Public Gambling Act bars any sort of sports betting in India, but unlike in the US which has a law restricting internet gaming, there is absolutely nothing comparable here.
And offshore wagering business are utilizing this loophole to draw Indians. Even though there are no online wagering operators based out of India, a lot individuals have signed up accounts with overseas companies.
"Legally you can escape [with this], as the law is uncertain for online gambling," states Mumbai- based legal representative HP Ranina.
But despite this, it is "offline sports betting", done through call which control the marketplace.
Calls for legalisation
The clamour to legalise wagering in cricket has grown after a panel designated by India's Supreme Court proposed the concept, stating it would help clamp down on corruption in the country's preferred sport.
The Justice RM Lodha Commission was set up to recommend modifications in the functioning of India's cricket regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal came to light.
Two franchises have actually been banned for two years after some gamers and team officials were of fixing parts of the match at the behest of bookies.
The panel also argues that legalised wagering will bring in tax revenues for the exchequer that might total up to $2bn a year.
Even gamblers feel that legalising sports betting is a move in the best direction.
"I don't mind paying some money out my revenues, as long as I can gamble openly," says our cricket bettor.
It would likewise open a big organization chance for licensed bookmakers and global online wagering business to establish operations in India.
And it would help restrict match fixing in cricket and other sports betting, argue many, by helping make deals associated with sports betting more transparent.
"If you work alongside sports betting companies, you will have an extremely reliable technique of stamping out match fixing," states George Oborne, who runs a mock sports betting website, India Bet.
But lots of also believe, that the taxes levied on the bettor and the bookie will need to be affordable to make it attractive enough for them to bet lawfully.
However, there are restrictions.
"Definitely there will be illegal wagering due to the fact that (some) individuals would not want to leave an audit path by getting in the white market," says Mr Oborne.
He adds that individuals who use unaccounted cash to place big bets will never bet lawfully.
Approval concern
For sports betting gambling to be legalised, parliamentary approval will be required to develop a brand-new law, and politically this will be a hard concept to sell.
"Although lots of people are included in some sort of gaming - it's still a controversial concern for many," says our unnamed punter.
And considered that India has a federal structural - each state will need to likewise pass a different law to legalise sports betting gambling in their territory.
"The process is so long and tricky that it will take years," states Mr Ranina."That's why, we are cynical about this ending up being a reality anytime quickly."
Yet with the idea having actually been backed by a main panel for the first time, a minimum of a debate has fired up around a subject - which till now was thought about a taboo.
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