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Howzat? The clamour to legalise sports betting wagering 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 17 runs to win against Australia.
In his two-bedroom home located in central Mumbai, a middle-aged guy is watching the video game, nervously. He's resting on the edge of his grey colour sofa with his cellphone glued to his right hand.
He has made more than 10 calls in 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 yourself to face the last over he's altered his mind.
"I believe India is winning, make the change," he informs his bookmaker on the phone.
And a couple of minutes later on his prediction becomes a reality, as India wins the match in a nail-biting finish.
"I have made $200 today," he says with a childish glee.
For more than 3 decades he's been sports betting on cricket matches. We can't expose his name as what he's doing is unlawful in India.
Besides horse racing, sports betting of any kind is not allowed in India. Despite that, unlawful sports betting distributes flourish 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 sports betting money is directed towards cricket.
Without any legal avenue, punters put bets utilizing their phones by making calls to bookies. Gamblers can bet on anything related to the cricket match, from who is winning to the highest private run scorer.
Most of these transactions involve so-called "black cash", which is money not declared to the taxman.
The 1867 Public Gambling Act bars any kind of sports betting in India, however unlike in the US which has a law forbiding internet gambling, there is absolutely nothing similar here.
And overseas wagering companies are using this loophole to draw Indians. Although there are no online sports betting operators based out of India, a lot people have actually signed up accounts with offshore firms.
"Legally you can get away [with this], as the law is unclear for online sports betting," says Mumbai- based attorney HP Ranina.
But in spite of this, it is "offline sports betting", done through telephone call which dominate the market.
Require legalisation
The clamour to legalise sports betting in cricket has grown after a panel selected by India's Supreme Court proposed the idea, saying it would assist clamp down on corruption in the country's favourite sport.
The Justice RM Lodha Commission was set up to recommend modifications in the functioning of India's cricket regulatory body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal emerged.
Two franchises have actually been banned for two years after some gamers and group officials were found guilty of repairing parts of the match at the behest of bookmakers.
The panel also argues that legalised wagering will generate tax profits for the exchequer that could total up to $2bn a year.
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Even bettors feel that legalising sports betting is a relocation in the ideal direction.
"I don't mind paying some cash out my earnings, as long as I can bet publicly," states our cricket gambler.
It would also open a substantial company opportunity for licensed bookies and worldwide online sports betting business to set up operations in India.
And it would help limit match fixing in cricket and other sports betting, argue lots of, by assisting make transactions associated with sports betting more transparent.
"If you work alongside sports betting companies, you will have an extremely efficient approach of marking 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 bookmaker will need to be sensible to make it appealing enough for them to bet legally.
However, there are constraints.
"Definitely there will be unlawful sports betting because (some) individuals wouldn't wish to leave an audit path by getting in the white market," states Mr Oborne.
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He includes that individuals who use unaccounted money to put huge bets will never bet lawfully.
Approval concern
For sports betting gambling to be legalised, parliamentary approval will be required to produce a brand-new law, and politically this will be a tough idea to offer.
"Despite the fact that numerous individuals are involved in some sort of sports betting - it's still a controversial concern for lots of," says our unnamed punter.
And considered that India has a federal structural - each state will have to likewise pass a separate law to legalise sports betting gambling in their territory.
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"The process is so long and difficult that it will take years," states Mr Ranina."That's why, we are negative about this becoming a reality anytime soon."
Yet with the concept having actually been endorsed by an official panel for the very first time, a minimum of a debate has actually fired up around a subject - which previously was considered a taboo.
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이것은 페이지 For Sports Gambling to Be Legalised
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