For Sports Gambling To Be Legalised

Howzat? The clamour to legalise sports betting in India
bet9ja.com

Published


5 February 2016


Share


close panel


Share page


Copy link


About sharing


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 best hand.
bit.ly

He has made more than 10 employ the last thirty minutes - not to go over the match however to keep revising his bet.


Five minutes earlier his money was on Australia, today as the Indian batsman gets prepared to face the last over he's changed his mind.


"I think India is winning, make the change," he tells his bookie on the phone.


And a couple of minutes later on his forecast becomes a reality, 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 decades he's been banking on cricket matches. We can't expose his name as what he's doing is prohibited in India.


Aside from horse racing, sports betting of any kind is not permitted in India. Despite that, prohibited sports betting syndicates flourish in the country.


'Black money'


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.


Without any legal opportunity, punters put bets using 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.
bet9ja.com

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


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


And overseas wagering business are using this loophole to lure Indians. Even though there are no online wagering operators based out of India, a lot people have signed up accounts with overseas companies.


"Legally you can escape [with this], as the law is unclear for online gambling," states Mumbai- based lawyer HP Ranina.
bit.ly

But despite this, it is "offline gambling", done through call which control the marketplace.


Calls for legalisation


The clamour to legalise wagering in cricket has grown after a panel designated by India's Supreme Court proposed the idea, saying it would assist clamp down on corruption in the country's preferred sport.


The Justice RM Lodha Commission was set up to recommend 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 came to light.


Two franchises have been banned for two years after some gamers and team authorities were condemned of repairing parts of the match at the behest of bookmakers.


The panel likewise argues that legalised sports betting will generate tax earnings for the exchequer that might total up to $2bn a year.


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


"I do not mind paying some money out my earnings, as long as I can gamble openly," says our cricket gambler.


It would also open a substantial business opportunity for certified bookies and international online sports betting companies to establish operations in India.


And it would assist limit match repairing in cricket and other sports betting, argue many, by helping make deals included in gambling more transparent.
bet9ja.com

"If you work alongside sports betting companies, you will have a very effective method of stamping out match fixing," states George Oborne, who runs a mock sports betting site, India Bet.
bet9ja.com

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


However, there are restrictions.


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


He adds that people who utilize unaccounted cash to place huge bets will never bet lawfully.


Approval question


For sports betting gambling to be legalised, will be needed to produce a new law, and politically this will be a tough concept to offer.


"Although numerous individuals are included in some sort of gambling - it's still a questionable concern for lots of," says our unnamed punter.


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


"The procedure is so long and challenging that it will take years," states Mr Ranina."That's why, we are negative about this ending up being a reality anytime soon."


Yet with the idea having been backed by a main panel for the very first time, a minimum of a dispute has actually sparked around a subject - which until now was thought about a taboo.