Howzat? The clamour to legalise sports betting wagering in India

Published

5 February 2016
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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 house located in main Mumbai, a middle-aged man is seeing the game, nervously. He's resting on the edge of his grey colour couch with his mobile phone glued to his right-hand man.

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

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

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

And a few minutes later his forecast comes real, 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 banking on cricket matches. We can't reveal 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, prohibited wagering distributes prosper in the nation.

'Black cash'
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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 sports betting cash is directed towards cricket.

Without any legal avenue, punters position bets utilizing their phones by making calls to bookies. Gamblers can bet on anything associated 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 cash not stated to the taxman.

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

And overseas wagering business are using this loophole to draw Indians. Even though there are no online wagering operators based out of India, a lot have signed up accounts with offshore firms.

"Legally you can escape [with this], as the law is uncertain for online sports betting," states Mumbai- based legal representative HP Ranina.

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

Calls for legalisation

The clamour to legalise wagering 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.
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The Justice RM Lodha Commission was set up to suggest modifications in the functioning 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 been prohibited for two years after some gamers and group officials were found guilty of fixing parts of the match at the request of bookmakers.

The panel also argues that legalised sports betting will bring in tax incomes 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 money out my profits, as long as I can bet publicly," says our cricket gambler.

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

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

"If you work alongside wagering companies, you will have a really effective approach of stamping out match repairing," states George Oborne, who runs a mock sports betting site, India Bet.

But numerous also believe, that the taxes imposed on the gambler and the bookie will have to be reasonable to make it attractive enough for them to gamble lawfully.
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However, there are restrictions.

"Definitely there will be illegal wagering due to the fact that (some) people would not wish to leave an audit path by going into the white market," states Mr Oborne.

He includes that people who utilize unaccounted money to position big bets will never gamble lawfully.

Approval question

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

"Despite the fact that numerous individuals are associated with some sort of sports betting - it's still a controversial concern for lots of," states our unnamed punter.

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

"The procedure is so long and challenging that it will take years," states Mr Ranina."That's why, we are negative about this becoming a truth anytime soon."

Yet with the idea having actually been endorsed by an official panel for the first time, a minimum of a debate has actually ignited around a topic - which until now was thought about a taboo.