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Howzat? The clamour to legalise sports betting wagering 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 home situated in central Mumbai, a middle-aged man is enjoying the game, nervously. He's resting on the edge of his grey colour sofa with his mobile phone glued to his right-hand man.

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

Five minutes previously his cash was on Australia, now as the Indian batsman gets all set to deal with the last over he's changed his mind.

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

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

"I have actually made $200 today," he states with a childlike glee.

For more than 3 years he's been wagering on cricket matches. We can't reveal his name as what he's doing is illegal in India.

Other than horse racing, sports betting of any kind is not allowed India. Despite that, prohibited sports betting distributes thrive in the nation.

'Black cash'

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

Without any legal opportunity, punters put bets utilizing their phones by making calls to bookmakers. Gamblers can bet on anything associated to the cricket match, from who is winning to the greatest specific run scorer.
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The majority of these transactions involve so-called "black cash", which is cash not declared to the taxman.

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

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

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

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 actually grown after a panel selected by India's Supreme Court proposed the concept, saying it would help clamp down on corruption in the country's preferred sport.

The Justice RM Lodha Commission was set up to suggest 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 wagering scandal emerged.

Two franchises have been banned for 2 years after some players and team officials were condemned of fixing parts of the match at the behest of bookies.

The panel also argues that legalised sports betting will bring in tax incomes for the exchequer that could amount to $2bn a year.
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Even gamblers feel that legalising sports betting wagering is a relocation in the ideal direction.

"I don't mind paying some money out my earnings, as long as I can gamble openly," states our cricket bettor.

It would also open a big business chance for licensed bookmakers and international online sports betting business to establish operations in India.

And it would help limit match repairing in cricket and other sports betting, argue numerous, by helping make deals included in sports betting more transparent.

"If you work together with sports betting companies, you will have a really effective technique of stamping out match repairing," states George Oborne, who runs a mock wagering site, India Bet.

But many likewise think, that the taxes imposed on the bettor and the bookie will have to be affordable to make it appealing enough for them to gamble legally.

However, there are constraints.

"Definitely there will be illegal wagering because (some) people would not desire to leave an audit trail by getting in the white market," says Mr Oborne.

He adds that individuals who use unaccounted cash to position huge bets will never bet legally.

Approval concern

For sports betting to be legalised, parliamentary approval will be required to produce a 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 gaming - it's still a controversial issue for numerous," states our unnamed punter.

And provided that India has a federal structural - each state will have to likewise pass a different law to legalise sports betting gambling in their territory.

"The process is so long and tricky that it will take years," says Mr Ranina."That's why, we are negative about this ending up being a reality anytime quickly."

Yet with the idea having been endorsed by a main panel for the very first time, at least a debate has ignited around a subject - which previously was considered a taboo.
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