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Howzat? The clamour to legalise sports betting 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 runs to win versus Australia.
In his two-bedroom home situated in central Mumbai, a middle-aged man is seeing the game, nervously. He's sitting on the edge of his grey colour couch with his cellphone glued to his right-hand man.
He has actually made more than 10 contact the last thirty minutes - not to talk about the match but to keep modifying his bet.
Five minutes previously his money was on Australia, and now as the Indian batsman gets prepared to face the last over he's altered his mind.
"I think India is winning, make the modification," he informs his bookmaker on the phone.
And a few 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 childlike glee.
For more than three years he's been sports betting on cricket matches. We can't reveal his name as what he's doing is illegal in India.
Aside from horse racing, sports betting wagering of any kind is not allowed India. Despite that, illegal wagering distributes thrive in the nation.
'Black money'
According to the Doha-based International Centre for sports betting Security, India's illegal sports betting wagering market is worth some $150bn a year. And much of that sports betting money is directed towards cricket.
With no legal avenue, punters place bets utilizing their phones by making calls to bookies. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest specific run scorer.
Most of these transactions include so-called "black money", which is cash not stated to the taxman.
The 1867 Public Gambling Act bars any type of gaming in India, but unlike in the US which has a law restricting internet gaming, there is absolutely nothing similar here.
And overseas wagering business are utilizing this loophole to tempt Indians. Although there are no online wagering operators based out of India, a lot people have actually registered accounts with offshore firms.
"Legally you can get away [with this], as the law is uncertain for online sports betting," says Mumbai- based attorney HP Ranina.
But in spite of this, it is "offline gaming", done through call which dominate the market.
Require legalisation
The clamour to legalise sports betting in cricket has grown after a panel designated by India's Supreme Court proposed the idea, saying it would help clamp down on corruption in the country's favourite sport.
The Justice RM Lodha Commission was established to recommend modifications in the performance of India's cricket regulatory body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League sports betting scandal came to light.
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Two franchises have been prohibited for two years after some gamers and group authorities were condemned of fixing parts of the match at the request of bookmakers.
The panel likewise argues that legalised sports betting will generate tax earnings for the exchequer that could amount to $2bn a year.
Even bettors feel that legalising sports betting is a move in the right direction.
"I don't mind paying some money out my revenues, as long as I can bet openly," says our cricket gambler.
It would also open a substantial service opportunity for licensed bookies and worldwide online wagering companies to set up operations in India.
And it would help limit match fixing in cricket and other sports betting, argue many, by helping make transactions associated with gambling more transparent.
"If you work together with wagering business, you will have an extremely reliable approach of marking out match fixing," states George Oborne, who runs a mock wagering website, India Bet.
But lots of likewise think, that the taxes levied on the gambler and the bookmaker will have to be reasonable to make it appealing enough for them to bet legally.
However, there are limitations.
"Definitely there will be illegal sports betting since (some) individuals would not desire to leave an audit trail by entering the white market," states Mr Oborne.
He adds that people who use unaccounted money to place huge bets will never .
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 concept to sell.
"Although many people are involved in some sort of gambling - it's still a controversial problem for many," states our unnamed punter.
And provided that India has a federal structural - each state will have to likewise pass a different law to legalise sports betting in their area.
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"The process is so long and challenging 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, at least an argument has actually ignited around a topic - which previously was thought about a taboo.
This will delete the page "For Sports Gambling to Be Legalised"
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