bet9ja.com
Howzat? The clamour to legalise sports betting in India
bit.ly
Published
bit.ly
5 February 2016

Share

close panel

Share page
bit.ly
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 against Australia.

In his two-bedroom home situated in central Mumbai, a middle-aged male is watching the game, nervously. He's resting on the edge of his grey colour sofa with his mobile phone glued to his right hand.

He has actually made more than 10 contact the last 30 minutes - not to talk about the match however to keep modifying his bet.

Five minutes earlier his money was on Australia, now as the Indian batsman gets ready to deal with the last over he's changed his mind.

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

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

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

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

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

'Black cash'

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

Without any legal opportunity, punters put bets utilizing their phones by making calls to bookies. Gamblers can wager on anything related to the cricket match, from who is winning to the greatest specific run scorer.

Most of these deals involve so-called "black money", which is cash not stated to the taxman.
bet9ja.com
The 1867 Public Gambling Act bars any type of gambling in India, however unlike in the US which has a law prohibiting internet sports betting, there is nothing comparable here.

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

"Legally you can get away [with this], as the law is uncertain for online gaming," states Mumbai- based lawyer HP Ranina.
bit.ly
But despite this, it is "offline gaming", done through call 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 suggest modifications 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 emerged.

Two franchises have actually been banned for two years after some gamers and team officials were condemned of fixing parts of the match at the wish of bookies.

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

Even gamblers feel that legalising sports betting is a move in the best instructions.

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

It would also open a big business chance for licensed bookmakers and global online wagering business to establish operations in India.

And it would assist limit match fixing in cricket and other sports betting, argue many, by helping make deals included in sports betting more transparent.

"If you work along with sports betting companies, you will have an extremely efficient technique of marking out match repairing," states George Oborne, who runs a mock sports betting site, India Bet.

But many also think, that the taxes levied on the bettor and the bookmaker will need to be reasonable to make it attractive enough for them to gamble lawfully.

However, there are restrictions.

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

He adds that individuals who utilize unaccounted money to position big bets will never ever bet lawfully.

Approval concern

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

"Despite the fact that lots of people are associated with some sort of sports betting - it's still a questionable problem for numerous," says our unnamed punter.

And considered that India has a federal structural - each state will need to likewise pass a different law to legalise sports betting in their territory.
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 coming true anytime soon."

Yet with the concept having been backed by an official panel for the first time, a minimum of a dispute has actually ignited around a subject - which until now was thought about a taboo.