bet9ja.com
Howzat? The clamour to legalise sports betting wagering in India
bit.ly
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 man is viewing the 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 made more than 10 calls in the last 30 minutes - not to talk about the match however to keep modifying his bet.

Five minutes earlier his cash was on Australia, now as the Indian batsman prepares to deal with 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 forecast becomes a reality, as India wins the match in a nail-biting surface.

"I have made $200 today," he states with a childish glee.

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

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

'Black money'

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

With no legal avenue, punters put bets using their phones by making calls to bookies. Gamblers can bet on anything related to the cricket match, from who is winning to the greatest private run scorer.
bet9ja.com
The majority of these deals include so-called "black money", which is cash 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 forbiding web gaming, there is absolutely nothing similar here.

And overseas sports betting business are using this loophole to lure Indians. Although there are no online wagering operators based out of India, a lot people have registered accounts with offshore companies.

"Legally you can escape [with this], as the law is ambiguous for online gaming," says Mumbai- based lawyer HP Ranina.
bit.ly
But in spite of this, it is "offline sports betting", done through phone calls which control the market.

Calls for 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 nation's favourite sport.

The Justice RM Lodha Commission was set up to suggest changes in the functioning of India's cricket body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal emerged.

Two franchises have been banned for 2 years after some players and team authorities were condemned of fixing parts of the match at the wish of bookies.

The panel likewise argues that legalised wagering will bring in tax incomes for the exchequer that might total up to $2bn a year.

Even bettors feel that legalising sports betting wagering is a move in the ideal instructions.

"I do not mind paying some money out my profits, as long as I can bet openly," states our cricket bettor.

It would also open a huge organization opportunity for licensed bookmakers and international online sports betting companies to set up operations in India.

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

"If you work along with sports betting companies, you will have an extremely efficient method of marking out match fixing," says George Oborne, who runs a mock sports betting website, India Bet.

But lots of also believe, that the taxes levied on the gambler and the bookmaker will need to be affordable to make it appealing enough for them to bet lawfully.

However, there are restrictions.

"Definitely there will be prohibited wagering since (some) people wouldn't wish to leave an audit trail by getting in the white market," states Mr Oborne.

He includes that individuals who utilize unaccounted money to put big bets will never gamble lawfully.

Approval concern

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

"Despite the fact that lots of people are associated with some sort of gambling - it's still a controversial concern for many," states our unnamed punter.

And considered that India has a federal structural - each state will have to likewise pass a different law to legalise sports betting in their area.
bet9ja.com
"The procedure is so long and difficult that it will take years," states Mr Ranina."That's why, we are negative about this ending up being a reality anytime quickly."

Yet with the concept having actually been endorsed by a main panel for the very first time, at least an argument has actually sparked around a topic - which previously was considered a taboo.
bet9ja.com