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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 versus Australia.
In his two-bedroom house located in main Mumbai, a middle-aged man is enjoying the game, nervously. He's resting on the edge of his grey colour sofa with his mobile phone glued to his ideal hand.
He has made more than 10 hire the last 30 minutes - not to go over the match but to keep modifying his bet.
Five minutes earlier his cash was on Australia, and now as the Indian batsman prepares yourself to deal with 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 couple of minutes later on his forecast comes to life, as India wins the match in a nail-biting surface.
"I have made $200 today," he says with a childish 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.
Other than horse racing, sports betting of any kind is not allowed India. Despite that, unlawful wagering distributes prosper in the country.
'Black money'
According to the Doha-based International Centre for sports betting Security, India's illegal sports betting market is worth some $150bn a year. And much of that gambling cash is directed towards cricket.
Without any legal avenue, punters position 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 greatest private run scorer.
The majority of these transactions involve so-called "black cash", which is cash not stated to the taxman.
The 1867 Public Gambling Act bars any kind of gaming in India, however unlike in the US which has a law prohibiting internet sports betting, there is absolutely nothing comparable here.
And overseas sports betting companies are utilizing this loophole to tempt Indians. Despite the fact that there are no online sports betting operators based out of India, a lot people have registered accounts with overseas companies.
"Legally you can get away [with this], as the law is ambiguous for online gaming," says Mumbai- based lawyer HP Ranina.
But despite this, it is "offline gambling", done through telephone call which dominate the marketplace.
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Calls for legalisation
The clamour to legalise sports betting in cricket has actually grown after a panel selected by India's Supreme Court proposed the concept, stating it would help clamp down on corruption in the nation's preferred sport.
The Justice RM Lodha Commission was established to suggest changes 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 emerged.
Two franchises have been prohibited for two years after some players and team officials were condemned of fixing parts of the match at the wish of bookies.
The panel also argues that legalised sports betting will bring in tax earnings for the exchequer that might amount to $2bn a year.
Even gamblers feel that legalising sports betting is a move in the best direction.
"I don't mind paying some cash out my revenues, as long as I can bet openly," says our .
It would also open a substantial business chance for certified bookies and global online sports betting companies to set up operations in India.
And it would assist restrict match repairing in cricket and other sports betting, argue many, by assisting make transactions involved in sports betting more transparent.
"If you work alongside wagering companies, you will have a very efficient technique of stamping out match repairing," states George Oborne, who runs a mock wagering site, India Bet.
But lots of also think, that the taxes imposed on the gambler and the bookmaker will need to be sensible to make it attractive enough for them to gamble legally.
However, there are constraints.
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"Definitely there will be unlawful wagering since (some) people wouldn't wish to leave an audit trail by entering the white market," states Mr Oborne.
He adds that individuals who utilize unaccounted cash to place big bets will never ever bet lawfully.
Approval question
For sports betting gambling to be legalised, parliamentary approval will be required to develop a new law, and politically this will be a hard concept to sell.
"Even however many individuals are associated with some sort of gaming - it's still a controversial concern for lots of," says our unnamed punter.
And considered that India has a federal structural - each state will need to also pass a different law to legalise sports betting in their area.
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"The procedure is so long and challenging that it will take years," states Mr Ranina."That's why, we are cynical about this becoming a truth anytime soon."
Yet with the idea having been backed by a main panel for the very first time, a minimum of a debate has actually ignited around a topic - which up until now was thought about a taboo.
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