1 For Sports Gambling to Be Legalised

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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 against Australia.

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

He has actually made more than 10 calls in the last thirty minutes - not to discuss the match but to keep revising his bet.

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

"I believe India is winning, make the change," he informs 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 states with a childish glee.

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

Other than horse racing, sports betting wagering of any kind is not allowed India. Despite that, illegal wagering syndicates prosper in the nation.

'Black money'

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 sports betting cash is directed towards cricket.

With no legal avenue, punters position bets utilizing 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.
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The majority of these deals include so-called "black money", which is money not declared to the taxman.

The 1867 Public Gambling Act bars any sort of gambling in India, but unlike in the US which has a law forbiding web sports betting, there is nothing similar here.

And offshore wagering business are using this loophole to draw 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 uncertain for online gambling," states Mumbai- based legal representative HP Ranina.

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

Calls for legalisation

The clamour to legalise sports betting in cricket has actually grown after a panel selected by India's Supreme Court proposed the idea, saying it would help clamp down on corruption in the nation's preferred 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 officials were condemned of fixing parts of the match at the wish of bookmakers.

The panel also argues that legalised sports betting will bring in tax profits for the exchequer that might amount to $2bn a year.

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

"I do not mind paying some money out my revenues, as long as I can gamble openly," states our cricket bettor.

It would likewise open a huge service opportunity for licensed bookmakers and international online sports betting companies to set up operations in India.

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

"If you work along with wagering companies, you will have an extremely reliable approach of marking out match fixing," says George Oborne, who runs a mock wagering site, India Bet.

But many likewise believe, that the taxes imposed on the bettor and the bookie will need to be affordable to make it attractive enough for them to gamble lawfully.

However, there are restrictions.

"Definitely there will be prohibited sports betting because (some) individuals wouldn't wish to leave an audit trail by going into the white market," states Mr Oborne.

He includes that people who use unaccounted cash to put huge bets will never ever bet lawfully.

Approval question

For sports betting gambling to be legalised, parliamentary approval will be required to produce a brand-new law, and politically this will be a tough idea to offer.

"Even though lots of people are associated with some sort of gambling - it's still a controversial concern 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 in their area.
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"The procedure is so long and challenging that it will take years," says 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, at least a dispute has actually ignited around a topic - which previously was thought about a taboo.