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 reporter

It is the last over of the cricket match, with India requiring 17 runs to win versus Australia.

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

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

Five minutes earlier his money was on Australia, however now as the Indian batsman gets ready to deal with the last over he's changed his mind.

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

And a couple of minutes later on his forecast comes to life, as India wins the match in a nail-biting surface.

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

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

Besides horse racing, sports betting of any kind is not allowed India. Despite that, unlawful sports betting distributes prosper in the country.

'Black cash'

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.

With no legal avenue, 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 greatest individual run scorer.

The majority of these deals include so-called "black cash", 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 internet sports betting, there is nothing similar here.

And overseas wagering business 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 actually signed up accounts with overseas firms.

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

But regardless of this, it is "offline gaming", done through phone calls which dominate the market.

Calls for legalisation

The clamour to legalise wagering in cricket has actually grown after a panel selected by India's Supreme Court proposed the idea, stating it would assist secure down on corruption in the nation'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 been prohibited for two years after some gamers and team authorities were condemned of fixing parts of the match at the behest of bookmakers.

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

Even bettors feel that legalising sports betting is a move in the ideal direction.

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

It would likewise open a big service chance for licensed bookmakers and worldwide online wagering business to establish operations in India.

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

"If you work alongside wagering business, you will have a very efficient technique of marking out match fixing," says George Oborne, who runs a mock wagering site, India Bet.

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

However, there are constraints.

"Definitely there will be unlawful sports betting due to the fact that (some) people wouldn't desire to leave an audit path by going into the white market," states Mr Oborne.
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He adds that people who use unaccounted cash to put big bets will never ever bet legally.

Approval question

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

"Even though lots of people are associated with some sort of gambling - it's still a controversial problem for many," states our unnamed punter.

And provided that India has a federal structural - each state will have to likewise pass a separate law to legalise sports betting gambling in their area.
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"The process is so long and difficult that it will take years," states Mr Ranina."That's why, we are negative about this coming true anytime soon."

Yet with the concept having been backed by an official panel for the very first time, at least an argument has ignited around a subject - which previously was considered a taboo.
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