Page 3 - Online Gambling

Fantasy sports platforms clock Rs 2,800 cr in gross revenue during IPL

Fantasy Sports platforms clocked a gross gaming revenue of Rs 2,800 crore during the IPL 2023 season, market research and analysis firm Redseer Strategy Consultants said on Tuesday. According to Redseer's analysis, Fantasy sports gross gaming revenue grew by 24 per cent from Rs 2,250 crore in IPL 2022, and the market has grown at a compounded annual growth rate (CAGR) of 30 per cent since IPL season 2019. "IPL 2023 witnessed revenue of Rs 2,800 crore with about 61 million users participating on Fantasy Gaming Platforms," the report said. Redseer said the top three Platforms captured about 96 per cent of the market share during the IPL 2023 season. "Platforms had an Average Revenue Per User (ARPU) of about Rs 458 during IPL 2023," the report said. The Redseer's analysis shows that the IPL 2023 had a strong user acquisition engine, with 35 per cent of new users playing for the first time on the platforms. The influx of new users led to an 11 per cent increase in cash users during t

Centre asks states to take action on outdoor ads of betting, gambling sites

The Centre on Tuesday asked state governments to crack down on outdoor advertisements of gambling and betting platforms. In a letter to chief secretaries of states and Union territories, Information and Broadcasting secretary Apurva Chandra asked them to take "appropriate action" to curb outdoor advertisements of gambling betting platforms that are found on hoardings, banners and auto-rickshaws. The Ministry of Information and Broadcasting had issued advisories to private television channels, digital news publishers and OTT platforms to refrain from publishing and broadcasting advertisements of such platforms. Advertisements of gambling and betting platforms had appeared in a section of the media -- print, digital and television -- which prompted the government to issue advisories.

Flouting govt directions, betting, gambling platforms continue to advertise

These advertisements involve high-profile celebrities apart from popular social-media influencers who have millions of followers

Rules of the game

Online gaming regulations need clarity

TN notifies ban on online gaming; carries a fine of Rs 5,000, 3-month jail

This comes a day after the Bill passed by the Legislative Assembly was given the go ahead by the state Governor, R.N. Ravi

Tamil Nadu governor clears online gambling Bill, industry to fight ban

This was the second time the bill was placed before the governor. In the first on March 8, he had returned it, asserting that the state had no 'legislative competence' to frame the bill

Government releases new rules for online gaming, prohibits betting

The government on Thursday released new rules for online gaming which prohibit any game that involves betting and wagering, and entail a framework of multiple self-regulatory organisations (SROs). Online games involved in wagering or betting will fall foul of new online gaming rules, Minister of State for IT Rajeev Chandrasekhar told reporters here. There will be multiple SROs, and these SROs will have participation from all the stakeholders including but not limited to the industry. "We are dealing with a framework which allows for all online gaming to be determined as permissible or not, by an SRO and there will be multiple SROs," Chandrasekhar said. Permissibility will be determined with the simple principle of whether wagering is involved and "if wagering is involved, the SRO will be in a position to say that those online games are not permissible.

Tamil Nadu Governor returns bill on prohibition of online gambling

On October 7 Governor Ravi promulgated an ordinance to prohibit online gambling and to regulate online gaming in the state

Country needs a strict federal law for online gaming: IT Minister Vaishnaw

"We should have a central law and the regulation has to be very strict because society is impacted by addiction to online games, especially by online gambling," he said

Indian gaming industry seeks clear tax regime, duty credit scrips in Budget

Budget 2023: They also suggested that the Centre can also consider levying separate tax slabs for each game category, like casual games, fantasy games and esports

UP emerges top gaming destination; tier 2-3 towns outpacing metros: Report

Uttar Pradesh has emerged as the top destination for mobile gamers, followed by Maharashtra, Rajasthan, Bihar and West Bengal, according to India Mobile Gaming Report 2022 by gaming platform Mobile Premier League released on Sunday. Odisha, Punjab, Tamil Nadu, Puducherry and Himachal Pradesh have seen the highest increase in mobile gamers in 2022 compared to 2021. In terms of games, Ludo Dice, Snakes and Ladders, Carrom, Fruit Dart, Block Puzzle and Poker were some of the top games played by gamers across different Indian cities. In Uttar Pradesh, Lucknow, Kanpur, Varanasi, Ghaziabad and Allahabad have the highest share of gamers. "Thirty-six per cent of the total gamers in UP hail from these cities. This is the second year in a row that Lucknow has earned recognition for its gaming prowess -- last year's IMGR revealed that growth in Lucknow outpaced all metros," the report said. Last year, India became the largest consumer of mobile games in the world, recording over 15 billion .

Google says not allowing ads promoting online gambling in India

After the Centre directed Google to stop showing betting companies ads for Indian users, the tech giant on Wednesday said it does not allow any advertisements that promote online gambling

How is game of skill different from game of chance?

A debate around the game of skill, where people with experience have a better chance of winning and making money than the rookies and game of chance has been raging for a while now. Here's more

What are the differences between a game of skill and a game of chance?

The winnings from games of skill attract 18 per cent of Goods and Services Tax (GST), while winnings from games of chance mandate paying 28 per cent GST

E-Gaming Federation to challenge Tamil Nadu ordinance banning online gaming

Regarding rummy and poker as games of chance violates Supreme Court and Madras High Court judgments which overturned the law banning online games

Why India needs a central regulatory framework for online gaming?

In September, the I-T department issued show cause notices to seven online gaming firms and about three dozen high-value players for a possible evasion of Rs 28,000 crore

TN governor approves ordinance banning online gambling, no clarity on ads

The state is likely to pass a bill in this regard to make it a permanent act in the upcoming assembly session starting on October 17

Top Headlines: PSBs to hire on monthly basis, Sebi goes to SC, and more

The Securities and Exchange Board of India (SEBI) has moved the Supreme Court against New Delhi Television (NDTV), the media company said

India's $2-billion online gaming industry jolted by taxing times

The $2 billion online gaming industry in India, while grappling with these issues, the online gaming industry should be treated as entertainment and not gambling, as it comes under the games of skill

Tamil Nadu Cabinet gives assent to ordinance to regulate online gambling

The Tamil Nadu Cabinet on Monday gave its nod to promulgate an ordinance to regulate online gambling. The Cabinet meeting, chaired by Chief Minister M K Stalin here, took the decision after final touches were given to the draft ordinance. It would be promulgated once the Governor R N Ravi gives his assent, the government said. In June this year, the Chief Minister announced a new law to curb online gambling, and the State government constituted a panel under retired judge of the Madras High Court Justice K Chandru to recommend on the promulgation of an ordinance to regulate online gambling in the State. Accordingly, the recommendation was submitted to the Chief Minister on June 27, 2022, and it was placed before the Cabinet the same day for consideration. The Cabinet took up the draft ordinance for discussion today after obtaining the requisite information from the School Education Department on the impact of online gaming on students, said an official release. "The School ...