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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 press 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 male is viewing the video game, nervously. He's resting on the edge of his grey colour couch with his smart phone glued to his best hand.
He has made more than 10 hire the last 30 minutes - not to discuss the match but to keep modifying his bet.
Five minutes earlier his cash was on Australia, and now as the Indian batsman prepares to deal with the last over he's altered his mind.
"I believe India is winning, make the change," he informs his bookie on the phone.
And a few minutes later on his forecast becomes a reality, as India wins the match in a nail-biting finish.
"I have made $200 today," he states with a childish glee.
For more than three decades he's been banking on cricket matches. We can't expose his name as what he's doing is illegal in India.
Aside from horse racing, sports betting of any kind is not allowed in India. Despite that, unlawful sports betting distributes prosper in the nation.
'Black money'
According to the Doha-based International Centre for sports betting Security, India's unlawful sports betting wagering market deserves some $150bn a year. And much of that gambling cash is directed towards cricket.
Without any legal avenue, punters put bets utilizing their phones by making calls to bookmakers. 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 include so-called "black cash", which is money not stated to the taxman.
The 1867 Public Gambling Act bars any sort of gambling in India, but unlike in the US which has a law restricting internet gambling, there is absolutely nothing similar here.
And offshore sports betting companies are utilizing this loophole to entice Indians. Although there are no online wagering operators based out of India, a lot individuals have registered accounts with overseas firms.
"Legally you can escape [with this], as the law is uncertain for online sports betting," says Mumbai- based attorney HP Ranina.
But despite this, it is "offline gaming", done through call which dominate the market.
Require legalisation
The clamour to legalise wagering in cricket has actually grown after a panel appointed by India's Supreme Court proposed the idea, stating it would help clamp down on corruption in the country's preferred sport.
The Justice RM Lodha Commission was established to suggest 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 sports betting scandal emerged.
Two franchises have actually been prohibited for two years after some players and team authorities were discovered guilty of fixing parts of the match at the request of bookies.
The panel likewise argues that legalised sports betting will generate tax revenues for the exchequer that could total up to $2bn a year.
Even bettors feel that legalising sports betting is a relocation in the right direction.
"I don't mind paying some cash out my revenues, as long as I can gamble openly," says our cricket gambler.
It would also open a big business opportunity for certified bookmakers and global online sports betting business to set up operations in India.
And it would match fixing in cricket and other sports betting, argue lots of, by assisting make transactions associated with sports betting more transparent.
"If you work along with sports betting companies, you will have an extremely effective approach of stamping out match repairing," states George Oborne, who runs a mock sports betting website, India Bet.
But numerous likewise think, that the taxes levied on the bettor and the bookie will need to be affordable to make it appealing enough for them to gamble lawfully.
However, there are constraints.
"Definitely there will be unlawful wagering since (some) people wouldn't wish to leave an audit path by going into the white market," says Mr Oborne.
He includes that people who utilize unaccounted money to put huge bets will never ever gamble lawfully.
Approval concern
For sports betting to be legalised, parliamentary approval will be required to create a new law, and politically this will be a tough idea to offer.
"Even however lots of people are involved in some sort of gambling - it's still a controversial issue for lots of," states our unnamed punter.
And given that India has a federal structural - each state will need to likewise pass a separate law to legalise sports betting in their area.
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"The procedure is so long and tricky that it will take years," states Mr Ranina."That's why, we are cynical about this coming true anytime quickly."
Yet with the idea having been backed by an official panel for the first time, a minimum of a debate has sparked around a subject - which till now was considered a taboo.
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