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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 runs to win versus Australia.

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

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

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

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

And a couple of minutes later on his prediction becomes a reality, 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 years he's been banking on cricket matches. We can't reveal his name as what he's doing is unlawful in India.

Aside from horse racing, sports betting wagering of any kind is not enabled in India. Despite that, illegal wagering syndicates prosper in the nation.

'Black money'

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

Without any legal opportunity, punters put bets using their phones by making calls to bookmakers. Gamblers can bet on anything associated to the cricket match, from who is winning to the highest individual run scorer.
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Most of these deals involve so-called "black cash", which is money not stated to the taxman.

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

And overseas wagering business are utilizing this loophole to tempt Indians. Although there are no online wagering operators based out of India, a lot people have signed up accounts with overseas firms.

"Legally you can get away [with this], as the law is ambiguous for online sports betting," says Mumbai- based legal representative HP Ranina.

But regardless of this, it is "offline gaming", done through call which control the market.

Require legalisation

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

The Justice RM Lodha Commission was established to suggest 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 emerged.

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

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

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

"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 company opportunity for licensed bookmakers and worldwide online sports betting business to set up operations in India.

And it would help limit match fixing in cricket and other sports betting, argue lots of, by helping make transactions included in sports betting more .

"If you work alongside sports betting business, you will have a very effective approach of marking out match fixing," says George Oborne, who runs a mock sports betting website, India Bet.

But numerous also think, that the taxes imposed on the gambler and the bookie will have to be affordable to make it appealing enough for them to gamble legally.

However, there are limitations.

"Definitely there will be prohibited sports betting because (some) people wouldn't desire to leave an audit path by getting in the white market," states Mr Oborne.

He includes that people who use unaccounted money to place huge bets will never ever bet legally.
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Approval question

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

"Despite the fact that lots of individuals are associated with some sort of gaming - 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 likewise pass a separate law to legalise sports betting gambling in their territory.
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"The process is so long and challenging that it will take years," states Mr Ranina."That's why, we are cynical about this coming true anytime soon."

Yet with the idea having been endorsed by a main panel for the very first time, at least a debate has actually sparked around a subject - which until now was thought about a taboo.
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