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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 press 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 central Mumbai, a middle-aged guy is seeing the video game, nervously. He's sitting on the edge of his grey colour couch with his mobile phone glued to his right-hand man.

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

Five minutes previously his cash was on Australia, and now as the Indian batsman gets prepared 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 his forecast comes true, as India wins the match in a nail-biting finish.

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

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

Other than horse racing, sports betting wagering of any kind is not . Despite that, unlawful wagering syndicates flourish in the nation.

'Black cash'

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.

With no legal avenue, punters position bets using their phones by making calls to bookies. Gamblers can wager on anything related to the cricket match, from who is winning to the highest individual run scorer.

Most of these transactions involve so-called "black cash", 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 restricting internet gambling, there is nothing similar here.

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

"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 gaming", done through phone calls which dominate the marketplace.

Require legalisation

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

The Justice RM Lodha Commission was set up to suggest modifications 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 been banned for 2 years after some gamers and team officials were found guilty of fixing parts of the match at the request of bookmakers.

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

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

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

It would likewise open a huge business opportunity for certified bookies and worldwide online wagering companies to establish operations in India.

And it would help restrict match fixing in cricket and other sports betting, argue lots of, by assisting make deals included in sports betting more transparent.

"If you work alongside sports betting companies, you will have an extremely reliable approach of stamping out match fixing," states George Oborne, who runs a mock wagering website, India Bet.

But many also believe, that the taxes imposed on the bettor and the bookmaker will need to be reasonable to make it appealing enough for them to gamble lawfully.

However, there are limitations.

"Definitely there will be illegal wagering since (some) people wouldn't wish to leave an audit trail by getting in the white market," says Mr Oborne.

He adds that people who utilize unaccounted money to position huge bets will never ever gamble legally.

Approval concern
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For sports betting to be legalised, parliamentary approval will be needed to create a brand-new law, and politically this will be a tough idea to sell.

"Although many people are associated with some sort of gaming - it's still a controversial concern for numerous," says our unnamed punter.

And considered that India has a federal structural - each state will need to also pass a different law to legalise sports betting gambling 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 coming true anytime soon."

Yet with the concept having actually been backed by a main panel for the very first time, at least a dispute has actually fired up around a subject - which previously was considered a taboo.
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