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 runs to win against Australia.
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In his two-bedroom home located in main Mumbai, a middle-aged man is seeing the video game, nervously. He's sitting on the edge of his grey colour couch with his mobile phone glued to his right hand.

He has actually made more than 10 calls in the last thirty minutes - not to talk about the match however to keep revising his bet.

Five minutes previously his cash was on Australia, now as the Indian batsman gets prepared 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 on his forecast comes to life, as India wins the match in a nail-biting surface.

"I have actually 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 prohibited in India.

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

'Black money'

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 opportunity, punters place bets utilizing their phones by making calls to bookies. Gamblers can wager on anything associated to the cricket match, from who is winning to the highest specific run scorer.

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

The 1867 Public Gambling Act bars any sort of gaming in India, but unlike in the US which has a law forbiding web sports betting, there is nothing here.

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

"Legally you can escape [with this], as the law is unclear for online gaming," says Mumbai- based lawyer HP Ranina.

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

Calls for legalisation

The clamour to legalise wagering in cricket has actually grown after a panel selected by India's Supreme Court proposed the idea, stating it would assist secure down on corruption in the nation's favourite 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 sports betting scandal came to light.

Two franchises have actually been banned for 2 years after some players and group officials were found guilty of fixing parts of the match at the behest of bookmakers.

The panel likewise argues that legalised sports betting will generate tax revenues for the exchequer that could total up to $2bn a year.

Even bettors feel that legalising sports betting wagering is a move in the best direction.

"I don't mind paying some money out my revenues, as long as I can bet publicly," states our cricket gambler.
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It would also open a huge service opportunity for certified bookmakers and international online wagering business to set up operations in India.

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

"If you work along with sports betting business, you will have a really effective method of stamping out match fixing," states George Oborne, who runs a mock sports betting website, India Bet.

But lots of also believe, that the taxes imposed on the gambler and the bookmaker will have to be reasonable to make it attractive enough for them to gamble legally.

However, there are constraints.

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

He includes that individuals who utilize unaccounted cash to put big bets will never bet lawfully.

Approval concern

For sports betting gambling to be legalised, parliamentary approval will be needed to produce a new law, and politically this will be a difficult idea to sell.

"Despite the fact that lots of people are included in some sort of gaming - it's still a controversial problem for numerous," says 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 territory.

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

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