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High taxes, selective bans drive 30% growth in illegal online gambling in India, says study
Economic Times
·
1y ago
Medial
A new study by the Centre for Knowledge Sovereignty (CKS) reveals that inadequate regulations, selective bans, and high taxation are fueling illegal betting and gambling in India. Despite regulatory restrictions, the illegal betting market in India receives an estimated $100 billion in annual deposits, and it is projected to grow at a rate of 30% per year. The legal framework for online gaming is considered inadequate, providing a favorable environment for illicit gambling operators. CKS suggests the government establish a dedicated task force and create a whitelist of legitimate operators to address the issue.
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Domestic online gaming industry seeks GST adjustment to help it thrive
YourStory
·
1y ago
Medial
The Indian online gaming industry is calling on the government to reconsider the 28% Goods and Services Tax (GST) on Contest Entry Amount (CEA) as it is hindering the industry's growth and providing an advantage to foreign companies. The Skill Online Games Institute (SOGI) argues that the high tax rate is pushing domestic companies out of business and inadvertently promoting illegal offshore gambling. SOGI is collaborating with the University of Oxford to study global regulations and suggests considering taxation models of other countries. With the right regulatory framework, the industry has the potential to grow significantly.
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ED takes action against illegal online gambling
Startup News FYI
·
1y ago
Medial
The Enforcement Directorate (ED) has seized INR 5.87 crore from various individuals and entities under the Prevention of Money Laundering Act as part of its ongoing effort to combat illegal online gambling platforms. The investigation, stemming from a complaint filed by the Directorate General of Goods and Services Tax Intelligence, revealed a scheme orchestrated by Shyamala N and Umar Farooq. They registered multiple companies using forged documents and set up a network of 14 entities to deceive the public into online gambling. Indian authorities have taken comprehensive measures to curb illegal online gambling, including banning offshore platforms and blocking apps connected to China.
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Consumer watchdog CCPA cautions celebrities, influencers against promotion of gambling
Economic Times
·
1y ago
Medial
The Central Consumer Protection Authority (CCPA) has issued an advisory warning celebrities and influencers against promoting betting and gambling. The advisory emphasizes the Ministry of Information and Broadcasting's efforts to caution media platforms and online advertisements against promoting such activities. Violators of the guidelines may face strict measures under the Consumer Protection Act, 2019. Online gaming companies have sought government intervention in curbing endorsement of illegal activities, and the advisory aims to differentiate legitimate Indian skill gaming operators from illegal gambling platforms that cause consumer harm. Despite earlier advisories, online betting and gambling portals have continued to advertise on social media platforms.
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CCPA Warns Celebrities And Influencers To Refrain From Promoting Betting, Gambling
Inc42
·
1y ago
Medial
The Central Consumer Protection Authority (CCPA) in India has issued an advisory warning celebrities and influencers to refrain from promoting illegal activities such as betting and gambling. The advisory emphasizes that betting and gambling are illegal under the Public Gambling Act, 1867, and efforts are being made to prohibit the promotion of such activities on media platforms. The guidelines also apply to online advertisement intermediaries, and violators will face strict consequences under the Consumer Protection Act of 2019. The Ministry of Information and Broadcasting has previously issued advisories to prevent outdoor advertisements of betting and gambling platforms.
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Online gaming companies say only illegal platforms will gain from 28% GST
Economic Times
·
2y ago
Medial
The government's decision to impose a 28% GST on the full face value of online gaming could result in users migrating to illegal gambling and betting platforms, industry executives said.
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Centre Warns Influencers Against Endorsing Offshore Online Betting And Gambling Platforms
Inc42
·
1y ago
Medial
The Ministry of Information and Broadcasting in India has advised endorsers and influencers on social media to avoid promoting offshore online betting and gambling platforms, including surrogate advertisements. The ministry has also cautioned online advertisement intermediaries against targeting Indian audiences with such promotional content. Failure to comply with this advisory may result in penalties, including the removal of social media posts or accounts and potential legal action. Online gambling and betting are illegal in most parts of India under the Public Gambling Act. The Central Consumer Protection Authority has also expressed concerns about endorsements of betting platforms by celebrities and influencers.
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Indonesia bans search engine DuckDuckGo on gambling, pornography concerns
Economic Times
·
11m ago
Medial
Indonesia has announced the ban of DuckDuckGo, a privacy-focused search engine, citing concerns over its potential use to access illegal websites hosting pornography and online gambling. The country has strict regulations prohibiting the sharing of obscene content online, with platforms like Reddit and Vimeo already blocked. Indonesian officials claimed that DuckDuckGo was blocked due to numerous complaints about its search results containing explicit and gambling-related content. The Pennsylvania-based search engine has not responded to the ban yet, and the government did not specify how DuckDuckGo differs from other search engines. Indonesia has been actively cracking down on online gambling despite its popularity in the country.
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UK-based betting company Entain warns on online gaming revenue
Economic Times
·
1y ago
Medial
Entain, the owner of Ladbrokes, has issued a warning about its online net gaming revenues for Q3 and the full year due to ongoing gambling industry regulations in the UK and slower growth in Australia and Italy. The company anticipates a high single-digit percentage decline in Q3 online net gaming revenue and a low single-digit percentage decrease in full-year group online gaming revenue. This comes as the UK government introduces measures to tackle problem gambling, including stake limits and affordability checks.
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Online gaming: Karnataka hopes to have new law in place in two months
Economic Times
·
3m ago
Medial
The Karnataka government is developing a new law to regulate the online gaming sector, aiming to address issues related to online gambling, betting, and consumer protection while supporting the growth of skill-based gaming. A committee of officials and industry representatives will draft the bill, expected within a month. The law aims to curb illegal activities and promote innovation. The state hopes to have the legislation in place in about two months, with industry support for regulations and licensing.
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Govt issues orders to ban 22 illegal betting apps
Economic Times
·
1y ago
Medial
The Indian government has banned 22 illegal betting and gambling apps and websites, including the controversial app Mahadev Book Online. The Ministry of Electronics and Information Technology (MeitY) issued the order to block these apps and websites following investigations conducted by the Enforcement Directorate (ED) against Mahadev Book's unlawful operations. The ED had seized assets worth INR 417 crore in connection with the app in September and alleged that it made INR 450 crore per month by offering illegal bets through various online applications.
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