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Howzat? The clamour to legalise sports betting 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 needing 17 go to win versus Australia.

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

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

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

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

And a couple of minutes later on his prediction comes real, as India wins the match in a nail-biting finish.

"I have actually made $200 today," he says with a childlike glee.

For more than 3 decades he's been banking on cricket matches. We can't reveal his name as what he's doing is prohibited in India.

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

'Black cash'

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

With no legal opportunity, punters place bets utilizing their phones by making calls to bookies. Gamblers can bank 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 cash not declared to the taxman.

The 1867 Public Gambling Act bars any kind of sports betting in India, but unlike in the US which has a law restricting web gambling, there is absolutely nothing comparable here.

And offshore sports betting companies are utilizing this loophole to tempt Indians. Even though there are no online wagering operators based out of India, a lot individuals have actually registered accounts with overseas firms.

"Legally you can get away [with this], as the law is uncertain for online gambling," states Mumbai- based legal representative HP Ranina.

But regardless of this, it is "offline sports betting", done through phone calls which dominate the marketplace.
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Calls for legalisation

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

The Justice RM Lodha Commission was established to suggest modifications 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 prohibited for 2 years after some players and team authorities were condemned of fixing parts of the match at the behest of bookies.

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

Even gamblers feel that legalising sports betting is a relocation in the right direction.

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

It would likewise open a big organization opportunity for licensed bookmakers and worldwide online sports betting companies to establish operations in India.

And it would assist restrict match fixing in cricket and other sports betting, argue numerous, by assisting make transactions involved in sports betting more transparent.

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

But lots of also believe, that the taxes imposed on the gambler and the bookmaker will need to be reasonable to make it appealing enough for them to bet legally.

However, there are restrictions.

"Definitely there will be unlawful sports betting due to the fact that (some) people would not wish to leave an audit path by going into the white market," says Mr Oborne.

He adds that individuals who use unaccounted money to position big bets will never bet legally.

Approval question

For sports betting gambling to be legalised, parliamentary approval will be required to produce a new law, and politically this will be a difficult idea to sell.

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

And offered that India has a - each state will have to likewise pass a different law to legalise sports betting gambling in their territory.

"The procedure 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 concept having actually been endorsed by a main panel for the very first time, a minimum of an argument has ignited around a topic - which previously was considered a taboo.
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