bet9ja-promotion-code-yohaig

Howzat? The clamour to legalise sports betting wagering in India

Published

5 February 2016
bet9ja.com
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 against Australia.

In his two-bedroom home situated in main Mumbai, a middle-aged man is seeing the game, nervously. He's sitting on the edge of his grey colour couch with his cellphone glued to his right-hand man.

He has actually made more than 10 calls in the last 30 minutes - not to go over the match but to keep modifying his bet.

Five minutes earlier his money was on Australia, now as the Indian batsman prepares to face the last over he's changed his mind.
bit.ly
"I believe India is winning, make the change," he informs his bookie on the phone.

And a couple of minutes later his prediction becomes a reality, as India wins the match in a nail-biting finish.
bet9ja.com
"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 reveal his name as what he's doing is unlawful in India.

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

'Black cash'

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

With no legal avenue, punters place bets using their phones by making calls to bookmakers. Gamblers can bank on anything related to the cricket match, from who is winning to the greatest specific run scorer.

Most of these transactions include so-called "black money", which is cash not to the taxman.

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

And overseas wagering business are utilizing this loophole to entice Indians. Even though there are no online wagering operators based out of India, a lot individuals have actually signed up accounts with overseas companies.
bet9ja.com
"Legally you can get away [with this], as the law is ambiguous for online sports betting," states Mumbai- based attorney HP Ranina.

But in spite of this, it is "offline gaming", done through phone calls which control the marketplace.

Calls for legalisation

The clamour to legalise sports betting in cricket has grown after a panel selected by India's Supreme Court proposed the idea, stating it would help clamp down on corruption in the nation's preferred sport.

The Justice RM Lodha Commission was set up to recommend 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 emerged.

Two franchises have actually been banned for two years after some gamers and group authorities were discovered guilty of repairing parts of the match at the request of bookies.

The panel likewise argues that legalised wagering will bring in tax incomes for the exchequer that could total up to $2bn a year.

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

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

It would likewise open a substantial service opportunity for certified bookmakers and global online wagering companies to establish operations in India.

And it would help restrict match fixing in cricket and other sports betting, argue many, by assisting make transactions involved in sports betting more transparent.

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

But numerous likewise think, that the taxes imposed on the bettor and the bookmaker will have to be affordable to make it attractive enough for them to bet lawfully.

However, there are limitations.

"Definitely there will be unlawful sports betting due to the fact that (some) individuals would not desire to leave an audit path by getting in the white market," states Mr Oborne.

He adds that people who utilize unaccounted money to place huge bets will never ever gamble legally.

Approval concern
bit.ly
For sports betting to be legalised, parliamentary approval will be needed to create a new law, and politically this will be a hard concept to sell.

"Although many people are involved in some sort of sports betting - it's still a controversial concern for many," states our unnamed punter.

And given that India has a federal structural - each state will have to also pass a separate law to legalise sports betting in their territory.
bit.ly
"The procedure is so long and challenging that it will take years," says Mr Ranina."That's why, we are negative about this coming true anytime soon."

Yet with the idea having actually been endorsed by an official panel for the first time, a minimum of an argument has actually sparked around a topic - which till now was considered a taboo.
bit.ly