Howzat? The clamour to legalise sports betting wagering in India
bet9ja.com
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 house situated in central Mumbai, a middle-aged guy is seeing the game, nervously. He's resting on the edge of his grey colour couch with his smart phone glued to his right-hand man.

He has made more than 10 hire the last 30 minutes - not to go over the match however to keep revising his bet.

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

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

And a few minutes later his prediction comes to life, as India wins the match in a nail-biting finish.

"I have made $200 today," he states 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 illegal in India.

Other than horse racing, sports betting wagering of any kind is not enabled in India. Despite that, illegal sports betting syndicates grow in the country.

'Black cash'

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

With no legal avenue, punters place bets using their phones by making calls to bookies. Gamblers can bank on anything related to the cricket match, from who is winning to the highest private run scorer.

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 type of sports betting in India, however unlike in the US which has a law restricting web gaming, there is nothing similar here.

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

"Legally you can get away [with this], as the law is uncertain for online sports betting," says Mumbai- based attorney HP Ranina.

But despite this, it is "offline sports betting", done through telephone call which control the marketplace.

Require legalisation

The clamour to legalise sports betting in cricket has actually grown after a panel designated by India's Supreme Court proposed the concept, stating it would help clamp down on corruption in the sport.

The Justice RM Lodha Commission was established 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 sports betting scandal emerged.

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

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

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

"I don't mind paying some money out my revenues, as long as I can bet openly," states our cricket gambler.

It would likewise open a huge business chance for licensed bookmakers and international online wagering business to establish operations in India.

And it would assist restrict match fixing in cricket and other sports betting, argue numerous, by assisting make transactions involved in gambling more transparent.

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

But many likewise believe, that the taxes levied on the gambler and the bookie will have to be reasonable to make it appealing enough for them to bet legally.

However, there are constraints.

"Definitely there will be prohibited sports betting because (some) individuals would not want to leave an audit trail by going into the white market," states Mr Oborne.

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

Approval concern

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

"Even though lots of people are included in some sort of gambling - it's still a controversial problem for many," says our unnamed punter.

And given that India has a federal structural - each state will need to also pass a different law to legalise sports betting in their area.

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

Yet with the idea having been backed by an official panel for the very first time, at least a debate has actually ignited around a topic - which till now was considered a taboo.
bet9ja.com