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Howzat? The clamour to legalise sports betting in India

Published

5 February 2016

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By Sameer Hashmi

Mumbai Business reporter

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

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

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

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

"I believe India is winning, make the change," he tells his bookie on the phone.

And a few minutes later on his prediction becomes a reality, 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 wagering 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 allowed in India. Despite that, unlawful sports betting distributes prosper in the nation.

'Black cash'

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

Without any legal avenue, punters put bets using their phones by making calls to bookies. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest specific run scorer.

The majority of these transactions include so-called "black money", which is money not stated to the taxman.

The 1867 Public Gambling Act bars any sort of gaming in India, however unlike in the US which has a law forbiding internet gaming, there is absolutely nothing comparable here.

And overseas wagering business are using this loophole to lure 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 get away [with this], as the law is uncertain for online sports betting," says Mumbai- based lawyer HP Ranina.

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

Calls for legalisation

The clamour to legalise sports betting in cricket has actually grown after a panel appointed by India's Supreme Court proposed the idea, stating it would help clamp down on corruption in the country's favourite sport.

The Justice RM Lodha Commission was set up to suggest modifications in the functioning of India's cricket regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League sports betting scandal emerged.

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

The panel also argues that legalised sports betting will bring in tax profits for the exchequer that might total up to $2bn a year.

Even gamblers feel that legalising sports betting is a move in the ideal direction.

"I do not mind paying some money out my profits, as long as I can gamble openly," states our cricket gambler.

It would also open a huge company chance for licensed bookmakers and worldwide online wagering companies to establish operations in India.

And it would assist restrict match repairing in cricket and other sports betting, argue lots of, by helping make transactions associated with gambling more transparent.

"If you work together with wagering companies, you will have a really reliable approach of stamping out match fixing," says George Oborne, who runs a mock sports betting site, India Bet.

But numerous also believe, that the taxes levied on the gambler and the bookmaker will have to be affordable to make it appealing enough for them to bet lawfully.

However, there are constraints.

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

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

Approval concern

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

"Although lots of people are associated with some sort of sports betting - it's still a controversial issue for lots of," states our unnamed punter.

And considered that India has a federal structural - each state will have to also pass a different law to legalise sports betting in their area.

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

Yet with the idea having actually been endorsed by a main panel for the very first time, at least a debate has fired up around a subject - which till now was considered a taboo.
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