Howzat? The clamour to legalise sports betting wagering 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 go to win versus Australia.
In his two-bedroom home located in main Mumbai, a middle-aged male is enjoying the 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 made more than 10 calls in the last thirty minutes - not to talk about the match however to keep revising his bet.
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Five minutes earlier his cash was on Australia, today as the Indian batsman gets ready to face the last over he's altered his mind.
"I think India is winning, make the modification," he tells his bookie on the phone.
And a couple of minutes later on his prediction comes true, 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 three decades he's been wagering on cricket matches. We can't expose his name as what he's doing is unlawful in India.
Aside from horse racing, sports betting of any kind is not allowed India. Despite that, prohibited wagering distributes flourish in the nation.
'Black cash'
According to the Doha-based International Centre for sports betting Security, India's unlawful sports betting market is worth some $150bn a year. And much of that gambling money is directed towards cricket.
Without any legal opportunity, punters position bets utilizing their phones by making calls to bookies. can bank on anything related to the cricket match, from who is winning to the highest private 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 kind of gaming in India, however unlike in the US which has a law restricting web sports betting, there is absolutely nothing comparable here.
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And overseas sports betting business are using this loophole to draw Indians. Although there are no online wagering operators based out of India, a lot individuals have registered accounts with overseas companies.
"Legally you can get away [with this], as the law is ambiguous for online gaming," states Mumbai- based lawyer HP Ranina.
But despite this, it is "offline gambling", done through telephone call which dominate the market.
Calls for legalisation
The clamour to legalise wagering in cricket has actually grown after a panel designated by India's Supreme Court proposed the idea, saying it would help clamp down on corruption in the country's favourite sport.
The Justice RM Lodha Commission was established to recommend changes 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 emerged.
Two franchises have been banned for 2 years after some players and group officials were condemned of fixing parts of the match at the behest of bookies.
The panel also argues that legalised sports betting will generate tax revenues for the exchequer that could amount to $2bn a year.
Even bettors feel that legalising sports betting wagering is a move in the ideal direction.
"I do not mind paying some cash out my revenues, as long as I can gamble openly," says our cricket bettor.
It would likewise open a big business opportunity for licensed bookies and worldwide online sports betting companies to establish operations in India.
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And it would assist limit match fixing in cricket and other sports betting, argue many, by helping make transactions associated with sports betting more transparent.
"If you work along with sports betting business, you will have a very effective method of marking out match fixing," states George Oborne, who runs a mock sports betting site, India Bet.
But numerous also believe, that the taxes levied on the gambler and the bookie will have to be reasonable to make it attractive enough for them to gamble legally.
However, there are constraints.
"Definitely there will be unlawful wagering due to the fact that (some) individuals would not desire to leave an audit path by getting in the white market," says Mr Oborne.
He includes that people who use unaccounted money to place huge bets will never bet legally.
Approval concern
For sports betting to be legalised, parliamentary approval will be required to produce a brand-new law, and politically this will be a tough idea to offer.
"Although many individuals are included in some sort of sports betting - it's still a controversial issue for many," says our unnamed punter.
And considered that India has a federal structural - each state will have to also pass a different law to legalise sports betting gambling in their territory.
"The process is so long and challenging that it will take years," states Mr Ranina."That's why, we are cynical about this coming true anytime quickly."
Yet with the idea having actually been backed by a main panel for the very first time, a minimum of a debate has sparked around a topic - which up until now was considered a taboo.
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For Sports Gambling to Be Legalised
cyrusmancuso5 edited this page 2024-12-28 19:44:31 +08:00