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

5 February 2016

Share
bit.ly
close panel

Share page

Copy link

About sharing

By Sameer Hashmi

Mumbai Business reporter

It is the last over of the cricket match, with India requiring 17 runs to win versus Australia.

In his two-bedroom home situated in main Mumbai, a middle-aged man is viewing the game, nervously. He's sitting on the edge of his grey colour sofa with his smart phone glued to his best hand.

He has actually made more than 10 calls in the last thirty minutes - not to go over the match but to keep modifying his bet.

Five minutes previously his money was on Australia, but now as the Indian batsman gets all set to face the last over he's altered his mind.

"I believe India is winning, make the modification," he informs his bookmaker on the phone.

And a couple of minutes later on his prediction comes real, as India wins the match in a nail-biting surface.

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

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

Other than horse racing, sports betting wagering of any kind is not permitted in India. Despite that, unlawful sports betting syndicates flourish in the nation.
bet9ja.com
'Black cash'

According to the Centre for sports betting Security, India's unlawful sports betting 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 bookies. Gamblers can bank on anything related to the cricket match, from who is winning to the greatest individual run scorer.

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

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

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

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

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

Require legalisation

The clamour to legalise wagering in cricket has grown after a panel selected by India's Supreme Court proposed the concept, saying it would assist clamp down on corruption in the nation's favourite sport.

The Justice RM Lodha Commission was set up to recommend 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 came to light.

Two franchises have been prohibited for 2 years after some players and team authorities were found guilty of repairing parts of the match at the wish of bookmakers.

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

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

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

It would likewise open a substantial service chance for licensed bookies and international online wagering business to establish operations in India.

And it would assist restrict match repairing in cricket and other sports betting, argue lots of, by assisting make deals associated with gambling more transparent.
bit.ly
"If you work alongside wagering companies, you will have a very efficient approach of marking out match fixing," says George Oborne, who runs a mock sports betting site, India Bet.

But lots of also think, that the taxes levied on the bettor and the bookie will need to be affordable to make it attractive enough for them to bet lawfully.

However, there are restrictions.

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

He includes that individuals who use unaccounted cash to put big bets will never ever gamble lawfully.

Approval question

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

"Even though lots of people are associated with some sort of sports betting - it's still a questionable problem for numerous," states our unnamed punter.

And considered that India has a federal structural - each state will have to also pass a separate law to legalise sports betting in their area.
bet9ja.com
"The procedure is so long and tricky 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 actually been endorsed by an official panel for the very first time, at least a debate has sparked around a topic - which till now was thought about a taboo.
bet9ja.com