bit.ly
Howzat? The clamour to legalise sports betting in India
Published
bet9ja.com
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 needing 17 go to win against Australia.
In his two-bedroom house situated in main Mumbai, a middle-aged male is seeing the game, nervously. He's sitting on the edge of his grey colour sofa with his to his right-hand man.
He has made more than 10 calls in the last 30 minutes - not to talk about the match however to keep modifying his bet.
Five minutes earlier his cash was on Australia, today as the Indian batsman gets all set to face the last over he's altered his mind.
"I think India is winning, make the modification," he tells his bookmaker on the phone.
And a couple of minutes later his forecast becomes a reality, as India wins the match in a nail-biting surface.
"I have actually made $200 today," he says with a childlike glee.
For more than three years he's been banking on cricket matches. We can't reveal his name as what he's doing is unlawful in India.
Other than horse racing, sports betting of any kind is not allowed in India. Despite that, unlawful wagering syndicates grow 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 gambling money is directed towards cricket.
With no legal opportunity, punters put bets using their phones by making calls to bookmakers. Gamblers can wager on anything associated to the cricket match, from who is winning to the highest individual run scorer.
The majority of these deals involve so-called "black money", which is cash not stated to the taxman.
The 1867 Public Gambling Act bars any type of gambling in India, but unlike in the US which has a law prohibiting web gaming, there is absolutely nothing comparable here.
And offshore wagering business are using this loophole to entice Indians. Despite the fact that there are no online wagering operators based out of India, a lot people have actually signed up accounts with overseas companies.
"Legally you can escape [with this], as the law is unclear for online sports betting," says Mumbai- based attorney HP Ranina.
But regardless of this, it is "offline gaming", done through phone calls which control the marketplace.
Calls for legalisation
The clamour to legalise wagering in cricket has grown after a panel selected by India's Supreme Court proposed the concept, saying it would assist secure down on corruption in the country's favourite sport.
The Justice RM Lodha Commission was established to suggest changes in the functioning of India's cricket regulative body, the Board of Control for Cricket in India (BCCI), after the 2013 Indian Premier League wagering scandal emerged.
Two franchises have been prohibited for 2 years after some gamers and team officials were discovered guilty of repairing parts of the match at the request of bookmakers.
The panel likewise argues that legalised wagering will bring in tax earnings for the exchequer that might amount to $2bn a year.
Even bettors feel that legalising sports betting wagering is a move in the best instructions.
"I do not mind paying some money out my revenues, as long as I can bet openly," says our cricket gambler.
It would also open a huge service opportunity for licensed bookmakers and global online wagering business to establish operations in India.
And it would assist limit match fixing in cricket and other sports betting, argue many, by assisting make deals involved in sports betting more transparent.
"If you work along with wagering business, you will have a really reliable technique of stamping out match fixing," states George Oborne, who runs a mock wagering site, India Bet.
But many also think, that the taxes levied on the gambler and the bookie will need to be sensible to make it appealing enough for them to gamble legally.
However, there are limitations.
"Definitely there will be illegal wagering since (some) individuals would not wish to leave an audit path by entering the white market," states Mr Oborne.
He includes that people who use unaccounted money to position huge bets will never ever gamble legally.
Approval concern
For sports betting gambling to be legalised, parliamentary approval will be required to create a brand-new law, and politically this will be a tough concept to offer.
"Although many individuals are associated with some sort of sports betting - it's still a questionable issue for lots of," states 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 procedure is so long and difficult that it will take years," says Mr Ranina."That's why, we are negative about this coming true anytime quickly."
Yet with the idea having been endorsed by a main panel for the very first time, at least a dispute has fired up around a subject - which until now was considered a taboo.
bet9ja.com
1
For Sports Gambling to Be Legalised
hollywhyte9831 edited this page 2024-12-30 19:01:29 +01:00