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Howzat? The clamour to legalise sports betting wagering in India

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bet9ja.com
5 February 2016

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By Sameer Hashmi

Mumbai Business press reporter

It is the last over of the cricket match, with India requiring 17 go to win against Australia.

In his two-bedroom home situated in central Mumbai, a middle-aged male is 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 contact the last thirty minutes - not to go over the match however to keep revising his bet.

Five minutes earlier his money was on Australia, today as the Indian batsman prepares to deal with the last over he's changed his mind.

"I believe India is winning, make the modification," he tells his bookie on the phone.
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And a few minutes later his forecast becomes a reality, as India wins the match in a nail-biting finish.

"I have made $200 today," he states with a childlike glee.

For more than 3 years he's been wagering 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, unlawful wagering distributes flourish in the nation.

'Black money'

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 gambling money is directed towards cricket.

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

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

The 1867 Public Gambling Act bars any kind of gaming in India, however unlike in the US which has a law restricting web gambling, there is nothing comparable here.

And overseas sports betting business are using this loophole to lure Indians. Despite the fact that there are no online sports betting operators based out of India, a lot individuals have signed up accounts with overseas firms.

"Legally you can escape [with this], as the law is uncertain for online gaming," states Mumbai- based attorney HP Ranina.

But despite this, it is "offline sports betting", done through telephone call which dominate the market.

Require 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 assist clamp down on corruption in the country's favourite sport.
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The Justice RM Lodha Commission was established to recommend changes 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 came to light.

Two franchises have actually been banned for two years after some gamers and group authorities were discovered guilty of fixing parts of the match at the behest of bookies.

The panel also argues that legalised wagering will bring in tax profits for the exchequer that might total up to $2bn a year.

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

"I do not mind paying some money out my revenues, as long as I can bet publicly," states our cricket gambler.

It would also open a huge service opportunity for certified bookmakers and worldwide online wagering business to establish operations in India.

And it would help 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 sports betting companies, you will have an extremely reliable technique of stamping out match repairing," says George Oborne, who runs a mock sports betting site, India Bet.

But lots of also think, that the taxes levied on the gambler and the bookie will need to be affordable to make it attractive enough for them to gamble legally.

However, there are restrictions.

"Definitely there will be illegal wagering because (some) individuals would not wish to leave an audit path by getting in the white market," states Mr Oborne.

He includes that individuals who use unaccounted cash to position big bets will never ever bet lawfully.

Approval question

For sports betting to be legalised, parliamentary approval will be needed to create a brand-new law, and politically this will be a hard concept to sell.

"Despite the fact that lots of individuals are associated with some sort of gaming - it's still a controversial concern for lots of," states our unnamed punter.

And given that India has a federal structural - each state will have to also 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 coming true anytime soon."

Yet with the concept having been backed by a main panel for the very first time, at least a dispute has actually sparked around a subject - which up until now was considered a taboo.