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

5 February 2016

Share

close panel

Share page

Copy link

About sharing

By Sameer Hashmi

Mumbai Business reporter
bit.ly
It is the last over of the cricket match, with India needing 17 runs to win against Australia.

In his two-bedroom house located in central Mumbai, a middle-aged man is enjoying the video game, nervously. He's sitting 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 thirty minutes - not to talk about the match however to keep revising his bet.

Five minutes earlier his money was on Australia, now as the Indian batsman prepares to face 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 finish.
bet9ja.com
"I have made $200 today,” he says with a childlike glee.

For more than three years he's been sports betting on cricket matches. We can't expose his name as what he's doing is unlawful in India.

Aside from horse racing, sports betting wagering of any kind is not allowed India. Despite that, prohibited sports betting syndicates flourish in the country.

'Black money'

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

Without any legal avenue, punters position 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 individual run scorer.

The majority of these deals include so-called “black money”, which is money not stated to the taxman.

The 1867 Public Gambling Act bars any type of gambling in India, but unlike in the US which has a law prohibiting internet gambling, there is absolutely nothing comparable here.
bet9ja.com
And offshore sports betting business are utilizing this loophole to tempt Indians. Even though there are no online sports betting operators based out of India, a lot individuals have actually registered 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 despite this, it is “offline gambling”, done through call which control the market.

Require legalisation

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

The Justice RM Lodha Commission was set up 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 wagering scandal came to light.

Two franchises have actually been banned for two years after some gamers and group authorities were found guilty of repairing parts of the match at the behest of bookmakers.

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

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

"I do not mind paying some cash out my revenues, as long as I can bet openly,” states our cricket gambler.

It would likewise open a big organization opportunity for licensed bookmakers and worldwide online sports betting business to set up operations in India.

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

"If you work along with sports betting companies, you will have a very reliable technique of stamping out match repairing,” states George Oborne, who runs a mock wagering site, India Bet.

But many also believe, that the taxes imposed on the bettor and the bookmaker will need to be reasonable to make it appealing enough for them to bet legally.

However, there are limitations.

"Definitely there will be unlawful sports betting due to the fact that (some) people wouldn't wish to leave an audit path by getting in the white market,” states Mr Oborne.

He includes that people who utilize unaccounted money to place huge bets will never bet lawfully.

Approval question

For sports betting gambling to be legalised, parliamentary approval will be required to develop a new law, and this will be a hard idea to sell.
bet9ja.com
"Although many individuals are associated with some sort of sports betting - it's still a controversial concern for many,” says our unnamed punter.

And offered that India has a federal structural - each state will need to likewise pass a separate law to legalise sports betting in their area.

"The procedure is so long and difficult that it will take years,” says Mr Ranina.“That's why, we are cynical about this becoming a reality anytime soon.“

Yet with the concept having actually been backed by a main panel for the first time, a minimum of an argument has actually sparked around a topic - which until now was considered a taboo.