bit.ly
Howzat? The clamour to legalise sports betting in India

Published
bet9ja.com
5 February 2016

Share

close panel

Share page

Copy link

About sharing

By Sameer Hashmi

Mumbai Business press reporter

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

In his two-bedroom home located in main Mumbai, a middle-aged guy is watching the game, nervously. He's resting on the edge of his grey colour couch with his smart phone glued to his best hand.

He has actually made more than 10 employ the last 30 minutes - not to talk about the match however to keep revising his bet.

Five minutes earlier his money was on Australia, and now as the Indian batsman gets all set to deal with the last over he's changed his mind.

"I think India is winning, make the modification," he tells his bookmaker on the phone.

And a couple of minutes later on his forecast comes real, as India wins the match in a nail-biting finish.

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

For more than three years he's been banking 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, illegal sports betting syndicates prosper in the country.

'Black money'

According to the Doha-based International Centre for sports betting Security, India's illegal sports betting market deserves some $150bn a year. And much of that gambling money is directed towards cricket.

With no legal opportunity, punters put bets utilizing their phones by making calls to bookies. Gamblers can wager on anything related to the cricket match, from who is winning to the greatest private run scorer.

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

The 1867 Public Gambling Act bars any kind of gambling in India, however unlike in the US which has a law forbiding internet sports betting, there is absolutely nothing similar here.

And overseas wagering business are utilizing this loophole to tempt Indians. Despite the fact that there are no online sports betting operators based out of India, a lot individuals have registered accounts with overseas companies.

"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 call which dominate the marketplace.

Require legalisation

The clamour to legalise wagering in cricket has actually grown after a panel designated by India's Supreme Court proposed the idea, stating it would assist secure down on corruption in the country's favourite sport.

The Justice RM Lodha Commission was set up to suggest modifications 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 came to light.

Two franchises have been prohibited for two years after some gamers and team authorities were found guilty of fixing parts of the match at the wish of bookies.

The panel likewise argues that legalised sports betting will bring in tax earnings for the exchequer that could total up to $2bn a year.

Even gamblers feel that legalising sports betting wagering is a relocation in the ideal instructions.

"I do not mind paying some cash out my earnings, as long as I can gamble openly," says our cricket gambler.

It would likewise open a big service opportunity for licensed bookmakers and international companies to set up operations in India.

And it would help restrict match fixing in cricket and other sports betting, argue many, by helping make deals involved in sports betting more transparent.

"If you work together with wagering business, you will have an extremely effective method of stamping out match fixing," says George Oborne, who runs a mock sports betting site, India Bet.

But numerous also believe, that the taxes levied on the gambler and the bookmaker will have to be sensible to make it appealing enough for them to gamble lawfully.

However, there are limitations.

"Definitely there will be illegal sports betting due to the fact that (some) individuals wouldn't wish to leave an audit trail by getting in the white market," says Mr Oborne.

He adds that people who use unaccounted money to put huge bets will never ever bet legally.

Approval concern

For sports betting gambling to be legalised, parliamentary approval will be required to produce a new law, and politically this will be a tough idea to sell.

"Despite the fact that numerous individuals are involved in some sort of gambling - it's still a questionable issue for lots of," states our unnamed punter.

And considered that India has a federal structural - each state will need to likewise pass a different law to legalise sports betting in their territory.
bet9ja.com
"The procedure is so long and challenging that it will take years," states Mr Ranina."That's why, we are negative about this becoming a truth anytime soon."

Yet with the idea having been endorsed by a main panel for the very first time, at least a dispute has actually sparked around a topic - which up until now was thought about a taboo.