Howzat? The clamour to legalise sports betting in India
5 February 2016
By Sameer Hashmi
Mumbai Business reporter
It is the last over of the cricket match, with India requiring 17 go to win versus Australia.
In his two-bedroom home situated in main Mumbai, a middle-aged male is watching the game, nervously. He's sitting on the edge of his grey colour couch with his mobile phone glued to his best hand.
He has actually made more than 10 employ the last 30 minutes - not to go over the match however to keep modifying his bet.
Five minutes previously his money was on Australia, today as the Indian batsman prepares to face 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 his forecast becomes a reality, as India wins the match in a nail-biting finish.
"I have made $200 today," he says with a childish glee.
For more than three decades 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 of any kind is not enabled in India. Despite that, illegal wagering syndicates flourish in the country.
'Black money'
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 bookmakers. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest specific run scorer.
Most of these deals involve so-called "black money", which is money not declared to the taxman.
The 1867 Public Gambling Act bars any type of gaming in India, however unlike in the US which has a law restricting web gaming, there is absolutely nothing comparable here.
And overseas wagering companies are utilizing this to entice Indians. Despite the fact that there are no online sports betting operators based out of India, a lot people have registered accounts with overseas companies.
"Legally you can get away [with this], as the law is ambiguous for online gaming," says Mumbai- based attorney HP Ranina.
But in spite of this, it is "offline gambling", done through call which dominate the market.
Require 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 help 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 regulatory body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal came to light.
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Two franchises have actually been banned for two years after some gamers and team authorities were condemned of repairing parts of the match at the request of bookies.
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The panel likewise argues that legalised wagering will generate tax earnings for the exchequer that could amount to $2bn a year.
Even bettors feel that legalising sports betting wagering is a move in the best instructions.
"I do not mind paying some money out my earnings, as long as I can gamble publicly," states our cricket bettor.
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It would also open a substantial organization opportunity for licensed bookmakers and international online wagering companies to set up operations in India.
And it would assist restrict match repairing in cricket and other sports betting, argue many, by assisting make transactions associated with sports betting more transparent.
"If you work along with sports betting business, you will have a very efficient approach of stamping out match fixing," states George Oborne, who runs a mock wagering site, India Bet.
But numerous also think, that the taxes levied on the gambler and the bookie will have to be affordable to make it appealing enough for them to gamble lawfully.
However, there are constraints.
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"Definitely there will be prohibited wagering because (some) people wouldn't desire to leave an audit path by getting in the white market," says Mr Oborne.
He includes that individuals who use unaccounted cash to position huge bets will never bet lawfully.
Approval concern
For sports betting gambling to be legalised, parliamentary approval will be required to develop a brand-new law, and politically this will be a hard idea to sell.
"Despite the fact that lots of people are associated with some sort of sports betting - it's still a controversial concern for many," states our unnamed punter.
And offered that India has a federal structural - each state will have to also pass a different law to legalise sports betting in their area.
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"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 idea having been endorsed by a main panel for the very first time, a minimum of a dispute has actually sparked around a topic - which until now was considered a taboo.
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For Sports Gambling to Be Legalised
Jonathon Cosby edited this page 2025-01-16 05:35:46 +08:00