bit.ly
Howzat? The clamour to legalise sports betting 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 17 runs to win versus Australia.

In his two-bedroom house situated in main Mumbai, a middle-aged man is watching the game, nervously. He's resting on the edge of his grey colour couch with his cellphone glued to his ideal hand.

He has made more than 10 hire the last thirty minutes - not to talk about the match but to keep revising his bet.

Five minutes earlier his cash was on Australia, today as the Indian batsman prepares to face the last over he's altered his mind.

"I believe India is winning, make the change," he informs his bookie on the phone.

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

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

For more than 3 decades he's been sports betting on cricket matches. We can't expose his name as what he's doing is unlawful in India.

Other than horse racing, sports betting of any kind is not allowed India. Despite that, unlawful wagering distributes thrive in the nation.

'Black money'

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

Without any legal opportunity, punters put bets using their phones by making calls to bookmakers. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest specific run scorer.

Most of these transactions include so-called "black money", which is cash not declared to the taxman.

The 1867 Public Gambling Act bars any type of gaming in India, however unlike in the US which has a law prohibiting web sports betting, there is absolutely nothing similar here.

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

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

But in spite of this, it is "offline gaming", done through phone calls which control the market.

Require 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 help secure down on corruption in the nation's preferred sport.

The Justice RM Lodha Commission was established to recommend changes in the functioning 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 2 years after some gamers and team officials were condemned of fixing parts of the match at the behest of bookmakers.

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

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

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

It would also open a huge service chance for licensed bookmakers and worldwide online wagering companies to establish operations in India.

And it would assist limit match fixing in cricket and other sports betting, argue lots of, by assisting make transactions associated with sports betting more transparent.

"If you work together with sports betting business, you will have a very efficient approach of marking out match fixing," states George Oborne, who runs a mock sports betting website, India Bet.

But many likewise think, that the taxes imposed on the bettor and the bookie will need to be sensible to make it appealing enough for them to bet lawfully.

However, there are constraints.

"Definitely there will be unlawful wagering because (some) people wouldn't want to leave an audit path by going into the white market," states Mr Oborne.

He adds that people who use unaccounted cash to position big bets will never ever bet lawfully.

Approval concern

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

"Even however many individuals are involved in some sort of sports betting - it's still a controversial issue for many," states our unnamed punter.

And offered that India has a federal structural - each state will need to also pass a separate law to legalise sports betting in their area.
bit.ly
"The procedure is so long and difficult that it will take years," states Mr Ranina."That's why, we are cynical about this coming true anytime soon."

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 thought about a taboo.
bet9ja.com