bet9ja.com
Howzat? The clamour to legalise sports betting in India
bet9ja.com
Published
bit.ly
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 requiring 17 go to win against Australia.
In his two-bedroom house situated in main Mumbai, a middle-aged guy is enjoying the video game, nervously. He's resting on the edge of his grey colour sofa with his mobile phone glued to his best hand.
He has made more than 10 contact the last 30 minutes - not to go over the match however to keep revising his bet.
Five minutes earlier his cash was on Australia, and now as the Indian batsman prepares yourself to deal with the last over he's altered his mind.
bit.ly
"I believe India is winning, make the change," he tells 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 made $200 today," he says with a childlike glee.
For more than three decades he's been wagering on cricket matches. We can't reveal his name as what he's doing is prohibited in India.
Aside from horse racing, sports betting of any kind is not permitted in India. Despite that, unlawful wagering syndicates thrive in the country.
'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 opportunity, punters put bets using 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 deals include so-called "black money", which is money not stated to the taxman.
The 1867 Public Gambling Act bars any kind of sports betting in India, however unlike in the US which has a law forbiding web gaming, there is absolutely nothing comparable here.
And offshore wagering companies are utilizing this loophole to lure Indians. Despite the fact that there are no online wagering operators based out of India, a lot individuals have registered accounts with overseas firms.
"Legally you can escape [with this], as the law is unclear for online sports betting," states Mumbai- based lawyer HP Ranina.
But in spite of this, it is "offline sports betting", done through phone calls which control the marketplace.
Calls for legalisation
The clamour to legalise sports betting in cricket has actually grown after a panel designated 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 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 sports betting scandal .
Two franchises have been prohibited for two years after some players and team authorities were condemned of fixing parts of the match at the behest of bookmakers.
The panel likewise argues that legalised sports betting will bring in tax revenues for the exchequer that might amount to $2bn a year.
Even bettors feel that legalising sports betting is a relocation in the right instructions.
"I don't mind paying some money out my revenues, as long as I can bet publicly," says our cricket gambler.
It would also open a big company chance for licensed bookmakers and worldwide online wagering companies to set up operations in India.
And it would help restrict match repairing in cricket and other sports betting, argue numerous, by assisting make transactions associated with sports betting more transparent.
"If you work alongside sports betting business, you will have an extremely efficient technique of stamping out match fixing," says George Oborne, who runs a mock sports betting website, India Bet.
But many also believe, that the taxes imposed on the bettor and the bookmaker will need to be affordable to make it appealing enough for them to bet legally.
bet9ja.com
However, there are constraints.
"Definitely there will be prohibited sports betting since (some) individuals wouldn't desire to leave an audit path by going into the white market," states Mr Oborne.
He adds that people who use unaccounted cash to put big bets will never gamble legally.
Approval question
For sports betting to be legalised, parliamentary approval will be needed to create a brand-new law, and politically this will be a tough idea to sell.
"Even however lots of people are included in some sort of gambling - it's still a questionable concern for many," states our unnamed punter.
And provided that India has a federal structural - each state will need to also pass a separate law to legalise sports betting gambling in their territory.
bet9ja.com
"The procedure is so long and challenging that it will take years," says Mr Ranina."That's why, we are cynical about this becoming a reality anytime quickly."
Yet with the idea having been backed by a main panel for the first time, at least an argument has actually ignited around a topic - which up until now was thought about a taboo.
bit.ly
1
For Sports Gambling to Be Legalised
tomasbutts2010 edited this page 2024-12-17 23:39:39 +00:00