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Howzat? The clamour to legalise sports betting in India
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Published
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 against Australia.
In his two-bedroom home located in main Mumbai, a middle-aged man is viewing the video game, nervously. He's resting on the edge of his couch with his cellphone glued to his ideal hand.
He has made more than 10 contact 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 prepares yourself to deal with the last over he's altered his mind.
"I think India is winning, make the change," he tells his bookie on the phone.
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And a few minutes later on his prediction comes to life, as India wins the match in a nail-biting finish.
"I have actually made $200 today," he states with a childlike glee.
For more than three years he's been wagering on cricket matches. We can't reveal his name as what he's doing is unlawful in India.
Other than horse racing, sports betting of any kind is not enabled in India. Despite that, unlawful sports betting distributes thrive in the country.
'Black money'
According to the Doha-based International Centre for sports betting Security, India's prohibited 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 utilizing their phones by making calls to bookmakers. Gamblers can bet on anything related to the cricket match, from who is winning to the highest private run scorer.
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Most of these transactions include so-called "black cash", which is cash not stated to the taxman.
The 1867 Public Gambling Act bars any kind of gaming in India, but unlike in the US which has a law forbiding web gambling, there is nothing similar here.
And offshore sports betting companies are utilizing this loophole to entice Indians. Even though 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 sports betting," states Mumbai- based legal representative HP Ranina.
But regardless of this, it is "offline sports betting", done through phone calls which control the market.
Calls for legalisation
The clamour to legalise wagering in cricket has actually grown after a panel designated by India's Supreme Court proposed the concept, stating it would assist clamp down on corruption in the nation's favourite sport.
The Justice RM Lodha Commission was established to suggest changes 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 came to light.
Two franchises have been prohibited for 2 years after some players and group authorities were found guilty of repairing parts of the match at the behest of bookies.
The panel likewise argues that legalised wagering will generate tax incomes for the exchequer that might total up to $2bn a year.
Even bettors feel that legalising sports betting wagering is a move in the best direction.
"I do not mind paying some money out my earnings, as long as I can gamble publicly," says our cricket bettor.
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It would likewise open a big organization opportunity for certified bookies and global online wagering companies to set up operations in India.
And it would help restrict match repairing in cricket and other sports betting, argue lots of, by helping make transactions involved in gambling more transparent.
"If you work together with sports betting companies, you will have an extremely efficient technique of stamping out match fixing," says George Oborne, who runs a mock sports betting site, India Bet.
But numerous also believe, that the taxes imposed on the gambler and the bookie will need to be affordable to make it appealing enough for them to bet legally.
However, there are restrictions.
"Definitely there will be illegal sports betting due to the fact that (some) individuals would not wish to leave an audit trail by getting in the white market," says Mr Oborne.
He includes that individuals who utilize unaccounted cash to place big bets will never ever gamble legally.
Approval question
For sports betting gambling to be legalised, parliamentary approval will be required to produce a brand-new law, and politically this will be a difficult concept to sell.
"Even however lots of people are included in some sort of gambling - it's still a questionable concern for numerous," says our unnamed punter.
And given that India has a federal structural - each state will have to also pass a separate law to legalise sports betting gambling in their area.
"The procedure is so long and difficult that it will take years," states Mr Ranina."That's why, we are cynical about this coming true anytime soon."
Yet with the idea having been endorsed by an official panel for the first time, at least a debate has sparked around a subject - which previously was considered a taboo.
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