For Sports Gambling To Be Legalised

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Howzat? The clamour to legalise sports betting wagering in India


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5 February 2016


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By Sameer Hashmi


Mumbai Business reporter


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


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


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


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


"I believe 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 finish.


"I have made $200 today," he says with a childish 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 India. Despite that, prohibited sports betting 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 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.


The majority of these deals include so-called "black money", which is cash not declared to the taxman.


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


And overseas sports betting companies are using this loophole to lure Indians. Even though there are no online wagering operators based out of India, a lot people have signed up accounts with offshore firms.


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


But despite this, it is "offline sports betting", done through telephone call which control the market.


Calls for legalisation


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


The Justice RM Lodha Commission was set up to suggest changes in the performance of India's cricket regulative 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 prohibited for two years after some players and group authorities were condemned of repairing parts of the match at the wish of .


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


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


"I don't mind paying some money out my earnings, as long as I can gamble openly," states our cricket bettor.


It would likewise open a big business chance for certified bookies and global online sports betting business to set up operations in India.


And it would help restrict match repairing in cricket and other sports betting, argue many, by assisting make transactions included in sports betting more transparent.


"If you work together with wagering companies, you will have a very effective method of stamping out match repairing," says George Oborne, who runs a mock sports betting website, India Bet.


But numerous likewise believe, that the taxes imposed on the bettor and the bookmaker will need to be affordable to make it attractive enough for them to gamble lawfully.


However, there are constraints.


"Definitely there will be illegal wagering because (some) individuals would not wish to leave an audit path by getting in the white market," says Mr Oborne.


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


Approval question
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For sports betting gambling to be legalised, parliamentary approval will be required to create a new law, and politically this will be a hard idea to sell.


"Although lots of people are involved in some sort of gaming - it's still a questionable problem for many," 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 area.


"The procedure is so long and difficult 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 been backed by a main panel for the very first time, at least an argument has sparked around a subject - which till now was thought about a taboo.