• 목록
• 답변
• 글쓰기
• 게시판 리스트 옵션
  • 수정
  • 삭제

• 페이스북 공유
• 트위터 공유
• 

Howzat? The clamour to legalise sports betting wagering 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 go to win against Australia.

In his two-bedroom home located in central Mumbai, a middle-aged man is watching the game, nervously. He's resting on the edge of his grey colour couch with his mobile phone glued to his right-hand man.

He has made more than 10 employ the last 30 minutes - not to talk about the match but to keep modifying his bet.

Five minutes earlier his money was on Australia, however now as the Indian batsman gets ready to face the last over he's altered his mind.

"I believe India is winning, make the change," he informs his bookie on the phone.

And a few minutes later his prediction becomes a reality, 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 years he's been banking on cricket matches. We can't expose his name as what he's doing is illegal in India.

Besides horse racing, sports betting wagering of any kind is not allowed India. Despite that, unlawful wagering syndicates grow in the country.

'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.

Without any legal opportunity, punters put bets using their phones by making calls to bookies. Gamblers can bank on anything associated to the cricket match, from who is winning to the highest private run scorer.

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

The 1867 Public Gambling Act bars any sort of gambling in India, however unlike in the US which has a law prohibiting gaming, there is nothing comparable here.

And overseas sports betting business are using this loophole to lure Indians. Even though there are no online sports betting operators based out of India, a lot individuals have actually signed up accounts with offshore firms.

"Legally you can escape [with this], as the law is uncertain for online gambling," states Mumbai- based lawyer HP Ranina.

But in spite of this, it is "offline sports betting", done through telephone call which control the marketplace.

Calls for legalisation

The clamour to legalise sports betting in cricket has actually grown after a panel appointed by India's Supreme Court proposed the idea, 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 performance 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 actually been banned for two years after some players and group authorities were found guilty of repairing parts of the match at the wish of bookies.

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

Even gamblers feel that legalising sports betting is a relocation in the best direction.

"I do not mind paying some cash out my revenues, as long as I can gamble publicly," says our cricket gambler.

It would likewise open a big company opportunity for certified bookies and global online sports betting companies to set up operations in India.

And it would assist restrict match fixing in cricket and other sports betting, argue lots of, by assisting make deals associated with gambling more transparent.

"If you work alongside wagering companies, you will have a very efficient method of stamping out match repairing," says George Oborne, who runs a mock sports betting website, India Bet.

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

However, there are restrictions.

"Definitely there will be unlawful wagering due to the fact that (some) people would not want to leave an audit trail by going into the white market," says Mr Oborne.

He includes that individuals who utilize unaccounted money to put big bets will never ever bet legally.

Approval concern

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

"Even however lots of people are associated with some sort of gambling - it's still a questionable issue for numerous," states our unnamed punter.

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

"The process is so long and challenging that it will take years," states Mr Ranina."That's why, we are negative about this coming true anytime soon."

Yet with the concept having been backed by a main panel for the very first time, at least a dispute has actually ignited around a subject - which until now was thought about a taboo.