The government has advised print, electronic and digital media to stop advertising online betting platforms. Online gambling platforms are not registered under the Central Goods and Services Tax Act, 2017 and do not pay applicable direct and indirect taxes. Betting and gambling is illegal in most parts of India. Elara Capital believes e-commerce contributes 13% of ad spends for traditional media. Online betting platform component would be higher towards 30%. ecommerce vertical grew 100% year-on-year in CY21. Dream11 and My11 circle were both featured in the top 15 advertiser list as per Madison.