bet9ja-promo-code-yohaig

Howzat? The clamour to legalise sports betting in India

Published

5 February 2016

Share

close panel

Share page

Copy link

About sharing

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 located in main Mumbai, a middle-aged guy is viewing the game, nervously. He's resting on the edge of his grey colour sofa with his cellphone glued to his right-hand man.

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

Five minutes earlier his money was on Australia, but now as the Indian batsman prepares to face the last over he's changed his mind.

"I think India is winning, make the modification," he his bookmaker on the phone.

And a few minutes later his prediction comes true, as India wins the match in a nail-biting finish.

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

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

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

'Black money'

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 sports betting money is directed towards cricket.

With no legal avenue, punters put bets utilizing their phones by making calls to bookmakers. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest private run scorer.

The majority of these transactions include so-called "black money", which is money not declared to the taxman.

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

And offshore sports betting companies are utilizing this loophole to lure Indians. Even though there are no online sports betting 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 ambiguous for online gaming," states Mumbai- based attorney HP Ranina.

But despite this, it is "offline gaming", done through telephone call which control the market.
bet9ja.com
Calls for legalisation

The clamour to legalise wagering in cricket has actually grown after a panel appointed by India's Supreme Court proposed the concept, saying it would help secure down on corruption in the country'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 emerged.

Two franchises have been prohibited for two years after some players and team officials were found guilty of repairing parts of the match at the behest of bookmakers.
bit.ly
The panel also argues that legalised sports betting will generate tax revenues for the exchequer that could total up to $2bn a year.

Even bettors feel that legalising sports betting wagering is a relocation in the ideal instructions.

"I don't mind paying some money out my earnings, as long as I can bet openly," says our cricket bettor.
bet9ja.com
It would likewise open a substantial company chance for licensed bookies and global online wagering business to establish operations in India.

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

"If you work alongside sports betting companies, you will have an extremely efficient technique of marking out match fixing," says George Oborne, who runs a mock sports betting website, India Bet.

But numerous likewise believe, that the taxes imposed on the gambler and the bookie will need to be affordable to make it appealing enough for them to bet lawfully.

However, there are limitations.
bit.ly
"Definitely there will be illegal wagering due to the fact that (some) individuals wouldn't want to leave an audit path by entering the white market," says Mr Oborne.

He includes that individuals who use unaccounted cash to put big bets will never bet lawfully.

Approval question

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

"Even however numerous individuals are associated with some sort of gaming - it's still a controversial problem for many," says our unnamed punter.

And considered that India has a federal structural - each state will need to also pass a separate law to legalise sports betting in their area.

"The procedure is so long and difficult that it will take years," states Mr Ranina."That's why, we are cynical about this ending up being a truth anytime quickly."

Yet with the idea having actually been backed by an official panel for the very first time, at least a debate has actually ignited around a subject - which previously was thought about a taboo.
bet9ja.com