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Howzat? The clamour to legalise sports betting wagering in India
bit.ly
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 needing 17 go to win against Australia.

In his two-bedroom house situated in central Mumbai, a middle-aged guy is seeing the video game, nervously. He's sitting on the edge of his grey colour sofa with his mobile phone glued to his right-hand man.

He has made more than 10 employ the last 30 minutes - not to discuss the match however to keep modifying his bet.

Five minutes earlier his money was on Australia, today as the Indian batsman prepares to face the last over he's changed 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 forecast comes to life, as India wins the match in a nail-biting finish.

"I have actually 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.

Besides horse racing, sports betting wagering of any kind is not permitted in India. Despite that, unlawful wagering distributes prosper in the nation.

'Black cash'

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

With no legal avenue, punters place bets using their phones by making calls to bookies. Gamblers can bet on anything associated to the cricket match, from who is winning to the highest specific run scorer.

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

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

And overseas sports betting companies are utilizing this loophole to entice Indians. Although there are no online sports betting operators based out of India, a lot people have signed up accounts with offshore companies.

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

But in spite of this, it is "offline gambling", done through call which dominate the marketplace.

Require legalisation

The clamour to legalise wagering in cricket has actually grown after a panel appointed by India's Supreme Court proposed the concept, saying it would help clamp down on corruption in the nation's favourite 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 wagering scandal came to light.

Two franchises have actually been banned for two years after some players and group officials were condemned of repairing parts of the match at the wish of bookies.

The panel also argues that legalised wagering will generate tax incomes 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 do not mind paying some cash out my revenues, as long as I can bet publicly," states our cricket gambler.

It would likewise open a huge business opportunity for licensed bookmakers and global online sports betting business to set up operations in India.

And it would help restrict match fixing in cricket and other sports betting, argue numerous, by helping make transactions associated with gambling more transparent.

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

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

However, there are restrictions.
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"Definitely there will be unlawful wagering because (some) people wouldn't want to leave an audit trail by entering the white market," says Mr Oborne.

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

Approval question

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

"Although many individuals are included in some sort of gambling - it's still a controversial concern for many," says our unnamed punter.

And given that India has a federal structural - each state will need to also pass a different law to legalise sports betting in their area.
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"The process is so long and challenging that it will take years," says Mr Ranina."That's why, we are negative about this ending up being a truth anytime soon."

Yet with the concept having been backed by a main panel for the very first time, a minimum of an argument has sparked around a topic - which until now was considered a taboo.
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