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Howzat? The clamour to legalise sports betting in India

Published

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 against Australia.

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

He has made more than 10 hire the last 30 minutes - not to go over the match but to keep modifying his bet.

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

"I think India is winning, make the change," he informs his bookmaker on the phone.

And a couple of 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 childlike 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 prohibited in India.

Other than horse racing, sports betting wagering of any kind is not enabled in India. Despite that, unlawful sports betting distributes thrive in the country.

'Black money'

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

With no legal opportunity, punters put bets using their phones by making calls to bookies. Gamblers can bet on anything related to the cricket match, from who is winning to the greatest individual run scorer.

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

The 1867 Public Gambling Act bars any sort of sports betting in India, however unlike in the US which has a law prohibiting internet sports betting, there is absolutely nothing comparable here.

And offshore wagering companies are using this loophole to draw Indians. Despite the fact that there are no online wagering operators based out of India, a lot individuals have signed up accounts with overseas companies.

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

But in spite of this, it is "offline gambling", done through call which dominate the marketplace.

Calls for legalisation

The clamour to legalise sports betting in cricket has grown after a panel selected by India's Supreme Court proposed the concept, stating it would help clamp 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 emerged.

Two franchises have been prohibited for 2 years after some gamers and group officials were condemned of repairing parts of the match at the behest of bookmakers.

The panel likewise argues that legalised sports betting will generate tax incomes for the exchequer that could amount to $2bn a year.

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

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

It would also open a huge business opportunity for certified bookies and worldwide online sports betting companies to set up operations in India.

And it would assist restrict match fixing in cricket and other sports betting, argue many, by helping make transactions associated with gambling more transparent.

"If you work along with wagering companies, you will have a very efficient method of marking out match repairing," says George Oborne, who runs a mock sports betting site, India Bet.

But numerous also believe, that the taxes imposed on the gambler and the bookie will need to be affordable to make it attractive enough for them to bet lawfully.

However, there are constraints.

"Definitely there will be illegal wagering due to the fact that (some) individuals wouldn't wish to leave an audit trail by going into the white market," says Mr Oborne.

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

Approval question

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

"Despite the fact that lots of people are included in some sort of gaming - it's still a controversial issue for numerous," states our unnamed punter.

And offered that India has a federal structural - each state will need to also pass a different law to legalise sports betting in their territory.

"The procedure is so long and challenging that it will take years," says Mr Ranina."That's why, we are negative about this coming true anytime soon."

Yet with the idea having actually been backed by a main panel for the very first time, a minimum of an argument has actually fired up around a topic - which till now was considered a taboo.