Howzat? The clamour to legalise sports betting wagering in India
bet9ja.com
Published

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 situated in central 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 right-hand man.

He has actually made more than 10 calls in the last 30 minutes - not to go over the match however to keep modifying his bet.

Five minutes earlier his money was on Australia, and now as the Indian batsman prepares yourself to face the last over he's changed his mind.

"I believe India is winning, make the modification," he tells his bookie on the phone.

And a couple of minutes later his prediction becomes a reality, as India wins the match in a nail-biting finish.

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

For more than 3 decades he's been banking on cricket matches. We can't reveal his name as what he's doing is illegal in India.

Besides horse racing, sports betting wagering of any kind is not allowed India. Despite that, unlawful wagering syndicates prosper in the nation.

'Black cash'

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

With no legal opportunity, punters place bets using their phones by making calls to bookies. Gamblers can bet on anything associated to the cricket match, from who is winning to the highest individual run scorer.
bit.ly
The majority 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 gambling in India, but unlike in the US which has a law forbiding internet gambling, there is absolutely nothing similar here.

And offshore sports betting 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 people have signed up accounts with offshore companies.

"Legally you can get away [with this], as the law is uncertain for online gambling," states Mumbai- based lawyer HP Ranina.

But in spite of this, it is "offline sports betting", done through call which dominate the market.

Require legalisation

The clamour to legalise wagering in cricket has grown after a panel appointed by India's Supreme Court proposed the idea, saying it would help clamp down on corruption in the country's favourite sport.

The Justice RM Lodha Commission was established to recommend changes in the functioning of India's cricket regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal came to light.

Two franchises have been prohibited for two years after some players and team officials were found guilty of repairing parts of the match at the request of bookies.

The panel also argues that legalised sports betting will generate tax earnings for the exchequer that might total up to $2bn a year.

Even gamblers feel that legalising sports betting is a move in the ideal direction.

"I don't mind paying some cash out my revenues, as long as I can gamble publicly," says our cricket bettor.

It would also open a huge organization chance for licensed bookies and international online wagering companies to set up operations in India.

And it would help restrict match repairing in cricket and other sports betting, argue many, by helping make transactions associated with sports betting more transparent.

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

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

However, there are limitations.

"Definitely there will be unlawful wagering since (some) people would not wish to leave an audit path by going into the white market," states Mr Oborne.

He includes that individuals who use unaccounted cash to put huge bets will never ever bet lawfully.

Approval concern

For sports betting gambling to be legalised, parliamentary approval will be needed to develop a brand-new law, and politically this will be a tough idea to offer.

"Despite the fact that lots of people are involved in some sort of gaming - it's still a controversial concern for many," states our .
bet9ja.com
And provided that India has a federal structural - each state will need to likewise pass a different law to legalise sports betting in their area.

"The procedure is so long and challenging that it will take years," says Mr Ranina."That's why, we are cynical about this coming true anytime soon."

Yet with the idea having actually been backed by a main panel for the very first time, at least a debate has ignited around a subject - which previously was considered a taboo.
bet9ja.com