#Mobile Premier League

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India approves 28% tax on online gaming, horse racing, and casinos; shares of gambling firms slide after decision

The Goods and Services Tax (GST) Council in India has passed a decision to levy a maximum 28% tax on the full face value of bets in online gaming, casinos, and horse racing. The decision was announced at the 50th Council meeting by Union Finance Minister Nirmala Sitharaman. Online gaming companies will now be required to pay a 28% tax on the entire…
Law
India approves 28% tax on online gaming, horse racing, and casinos; shares of gambling firms slide after decision
infotechlead.com

Shares of Indian casino and online gaming cos plummet

The imposition of a 28 percent tax on the money collected from customers by Indian gaming companies, including online gaming firms and casino operators, has had a significant impact on the industry. This move, announced by India's Goods and Services Tax (GST) Council, has resulted in a substantial decline in the value of shares for companies such…
Industry
Shares of Indian casino and online gaming cos plummet
Super Slots
CNA

India's gaming, casino firms slide on tax blow

BENGALURU:Shares of Indian casino operator Delta Corp lost over a fifth of their value on Wednesday, while online gaming firms also dropped after the country's tax authorities imposed a 28 per cent tax on the money such companies collect from customers. These companies will now have to pay a 28 per cent tax on the entire amount collected from…
Finance
India's gaming, casino firms slide on tax blow
VentureBeat

Skill gaming and the future of real money gaming

Missed the GamesBeat Summit excitement? Don't worry! Tune in now to catch all of the live and virtual sessions here. Nancy MacIntyre, CEO of Game Taco, gave a quick rundown of the skill-gaming market and the future of real-money games at our recent GamesBeat Summit 2023 event. MacIntyre became the CEO of Game Taco in May. Game Taco bought the…
Industry
Skill gaming and the future of real money gaming
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Gambling News

India Introduces Online Gambling Legislation

Image Source: Shutterstock.com On Monday, the Indian government proposed the rules, which will be part of the Indian Intermediary Guidelines and Digital Media Ethics Code, due to concerns over the rising number of complaints of gambling addiction, especially among minors. For the first time, these regulations will oversee aspects of online gambling…
Law
India Introduces Online Gambling Legislation
Brand Equity

online gaming regulations: Government plans complete oversight of all real-money online games: sources

Indian government's planned regulation of online gaming will apply to all real-money games after the prime minister's office overruled a proposal to only regulate games of skill and leave out games of chance, according to a government document and three sources. The much-awaited regulations are seen shaping the future of India's gaming sector which…
Law
online gaming regulations: Government plans complete oversight of all real-money online games: sources
The News Minute

Is online gaming with real money legal or illegal in India?

The online gaming industry in India is a strange beast. On the one hand, it is one of the country's fastest-growing sectors; on the other hand, real money games involving money are banned in most Indian states. Despite the legal ambiguity surrounding the industry, a KPMG report predicted that online gaming would reach 29000 Crores in revenue by…
Law
Is online gaming with real money legal or illegal in India?
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US Sports

Indian group calls for cap on online gambling entry fees amid regulatory pressure

The growing popularity of real-money gambling, fueled by support from major cricketing figures, a sub-continental craze, has prompted regulatory efforts to tackle the risk of addiction, and reports of financial loss and suicides among young people. These games could represent up to 53% of a games market that is expected to reach $7 billion by 2026,…
Sports
US Sports

Skill or chance: Indian panel calls for regulator and new law for online gambling

Prime Minister Narendra Modi's panel of senior officials has been drafting regulations for the country's online gaming sector for months, where foreign investors such as Tiger Global and Sequoia Capital have backed gambling startups Dream11 and Mobile Premier League, very popular for fantasy cricket. The highly anticipated report is seen as key to…
Law
Asia Financial

India Calls for Online Gaming Crackdown

An Indian government panel said the country should create a regulatory body for online gaming to crack down on gambling and addiction. The confidential draft report calls for the creation of a new regulatory body under India's IT ministry to determine which online games qualify as games of skill and which are closer to chance-based gambling. India…
Industry
India Calls for Online Gaming Crackdown
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Brand Equity

gst rates: GST on gaming and gambling: Don’t ‘game over’ before it has even begun

The group of ministers (GoM) meeting today to finalise modalities on taxing casinos, online gaming and horse racing have proposed a GST tax rate hike to 28% from the current 18% on the use of chips bought in a casino and real money online skill gaming. This may seem consistent with leveling the'playing' field with the legacy lottery industry, or…
Religion
gst rates: GST on gaming and gambling: Don’t ‘game over’ before it has even begun
Analytics India Magazine

What can SEBI learn from casinos?

In the past few years, the Securities and Exchange Board of India (SEBI) has aggressively invested in upgrading its technology to boost its market surveillance, investigations, and policymaking capability. Recently, the regulatory body showed interest in a system that helps Las Vegas casinos in keeping away tricky gamblers. Casino AI technology…
Finance
What can SEBI learn from casinos?
Business Standard

GoM calls for 28% GST on online gaming, casinos; tax likely on face value

An empowered group of ministers (GoM) - set up to look into taxation of online gaming, casinos and races - has unanimously proposed a flat 28 per cent goods and services tax (GST) on these activities. The panel of ministers, which met on Wednesday, also decided that the tax will be levied on the entire "face value" or "bet amount" and not on the…
Finance
Money Control

Online gambling ban: Karnataka govt approaches Supreme Court against HC judgement

The Karnataka government on March 29 moved the Supreme Court challenging the Karnataka High Court judgement that recently struck down the contentious provisions of the state's online gambling law. It has filed a special leave petition, contending that the regulatory amendments were needed against online gambling to maintain public order as…
Law
Online gambling ban: Karnataka govt approaches Supreme Court against HC judgement
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Karnataka HC Strikes Down State s Online Gambling Law Gaming Industry Leaders Reacts

These petitions had challenged the constitutional legitimacy of revisions made to the Karnataka Police (Amendment) Act that had prohibited all types of internet gaming where the move of money is involved. Amid the months-long controversy, the Karnataka High Court, on Monday struck down the state's online gambling law as unconstitutional. On…
Law
Karnataka HC Strikes Down State s Online Gambling Law Gaming Industry Leaders Reacts
News18

Online Gambling Set to Make Comeback in Karnataka as HC Strikes Down Law as Unconstitutional

Online gambling was banned in Karnataka since last year The Karnataka High Court, on Monday February 14, quashed a recent law enacted by the state to ban online gambling, and stated that it was unconstitutional. This move comes as a huge relief to all the skill-based gaming platforms that had to close operations in Karnataka last year. The high…
Law
Online Gambling Set to Make Comeback in Karnataka as HC Strikes Down Law as Unconstitutional
Mint

What to keep in mind while playing real money games online

Will India cross 5 crore covid cases? Will bitcoin be priced at ₹31,00000 at midnight of 2 February 2021? Will U Mumbai beat the Patna Pirates at Kabaddi? These are some of the questions that Better Opinions, a 4-month old startup with around 1.5 lakh downloads allows people to trade on. Better Opinions is backed by Y Combinator and recently raised…
Sports
What to keep in mind while playing real money games online
MediaNama

Karnataka online gambling ban struck down on constitutional grounds

The Karnataka Police (Amendment) Act 2021 which banned online gaming (with stakes) and betting in the state, has been struck down by the Karnataka High Court (HC) as unconstitutional, according to a LiveLaw report. The verdict was pronounced by a division bench of Chief Justice Ritu Raj Awasthi and Justice Krishna S Dixit. The bench clarified that…
Law
Karnataka online gambling ban struck down on constitutional grounds
Money Control

Karnataka HC strikes down state's online gambling law as unconstitutional

February 14, 2022 / 11:32 AM IST The Karnataka High Court, on February 14, struck down the state's recent online gambling law as unconstitutional, providing a major relief to the skill-based gaming firms that had shut down operations in the state. This judgement will likely pave the way for fantasy sports and gaming fifirms such as Dream11, Mobile…
Law
Karnataka HC strikes down state's online gambling law as unconstitutional
South Florida Caribbean News

The Best Online Gaming Platform On Your iOS

Mobile Premier League (MPL) is an Indian-based unified gaming platform that has opened an office in New York to take the US gaming market by storm. Incepted in India, MPL quickly became one of the country's largest mobile gaming and esports platforms. Thanks to the platform's overwhelming support in India, they branched out to Indonesia and the…
Mobile
The Best Online Gaming Platform On Your iOS
Money Control

Karnataka HC Concludes Hearing, Reserves Judgement In Online Gambling Ban Case

December 22, 2021 / 08:43 PM IST The Karnataka High Court has reserved its judgement after concluding the hearings from a series of petitioners that included industry associations, gaming companies and individuals who had challenged the constitutional validity of the state's new online gambling law that came into effect on October 5. Skill gaming…
Sports
Karnataka HC Concludes Hearing, Reserves Judgement In Online Gambling Ban Case
Financial Express

Online gaming opening new doors for players

The online gaming industry-one of the few sectors to remain afloat amid the Covid-19 crisis-has opened new dimensions for players as well as platforms offering the games. With most people still preferring to stay indoors and entertainment options remaining few and far between, the space is also witnessing a secular growth Online gaming, as we all…
Industry
Inc 42

Everything You Need To Know About Karnataka's Ban On Online Gaming

The online gaming industry has the potential to generate $2 Bn in revenues by 2023 and is currently valued at $1 Bn+ Despite the boom, Indian states are undecided on the legalisation of online gaming due to the indecisiveness of what comprises a game of skill or a game of chance While the governments of Karnataka, Kerala, Tamil Nadu, Odisha and…
Strategy Guide
Everything You Need To Know About Karnataka's Ban On Online Gaming
The Hindu BusinessLine

No interim relief for petitioners challenging Karnataka’s online gambling law

Karnataka High Court has not given any interim order in the ongoing hearing of six petitions challenging the State's new anti-gambling law. The next hearing on these petitions will now take place after Diwali in November 2021. Six petitions have been filed by gaming companies and industry bodies including the All Indian Gaming Federation (AIGF),…
Law
No interim relief for petitioners challenging Karnataka’s online gambling law
Inc 42

Exclusive: MPL Moves Office To Delhi Post Online Gambling Ban

MPL's shareholders have approved the shifting of the company's registered office in Bengaluru's Hobli to Delhi's Barakhamba Road Following the ban, MPL was one of the first fantasy sports platform to have pulled the plug on its operations Last month MPL entered the unicorn club after raising $150 Mn in its Series E round from Legatum Capital,…
Sports
Exclusive: MPL Moves Office To Delhi Post Online Gambling Ban
MediaNama

Karnataka online gambling ban: Dream11 moves court to quash FIR

Weeks after an FIR led to Dream11 stopping its services in Karnataka, the fantasy sports app's founders Bhavit Sheth and Harsh Jain have moved the Karnataka High Court seeking to quash the FIR. According to a report by The News Minute, the two founders filed a writ petition before the court on October 22. The FIR prompting Dream11 to exit the state…
Sports
Karnataka online gambling ban: Dream11 moves court to quash FIR
Money Control

No Arrests To Be Made Under New Gambling Law, Says Karnataka High Court

October 22, 2021 / 02:25 PM IST The Karnataka High Court on October 22 told the Advocate General appearing on behalf of the state government not to make arrests under the new online gambling law that faces legal challenges from several gaming firms. Appearing for All India Gaming Federation, a skill gaming industry body that has challenged the law,…
Law
No Arrests To Be Made Under New Gambling Law, Says Karnataka High Court
Money Control

Junglee Games Files Petition In Karnataka HC Against Gambling Ban

October 18, 2021 / 07:16 PM IST Junglee Games, which operates Junglee Rummy, Junglee Teen Patti, and fantasy gaming platform Howzat, is the latest firm to approach the Karnataka High Court appealing against the state's online gambling law that came into effect on October 5. Online betting giant Flutter Entertainment, which was created by the merger…
Law
Junglee Games Files Petition In Karnataka HC Against Gambling Ban
Business Standard

Skill gaming startups caught in Karnataka's online gambling ban

For sectors like'online gaming' and'cryptocurrency', one word that best describes the present regulatory scenario is'ambiguous'. Both sectors are booming in India, but governments have their concerns related to user safety. This dilemma played out again recently, with Karnataka notifying a law to ban and betting. The law provides for up to three…
Sports
Skill gaming startups caught in Karnataka's online gambling ban
MediaNama

Karnataka online gambling ban: Dream11 shuts down operations in state

Dream11 has decided to suspend its operations in Karnataka to ensure the safety of users following the ban on online gambling in Karnataka, the company said in a statement to the press. The move comes days after an FIR was filed against the founders of the company for flouting the state's ban. The Karnataka government passed an amendment to its…
Sports
Karnataka online gambling ban: Dream11 shuts down operations in state
ABP News Live

Karnataka: AIGF, Gaming Companies Move High Court Challenging Online Gambling Law

Chennai: The All India Gaming Federation (AIGF), a skill gaming industry body, along with four other real-money gaming companies have moved the Karnataka High Court challenging the state government's online gambling law that came into effect on October 5. According to a report in Moneycontrol, the firms, Mobile Premier League (MPL), Games24X7, A23…
Law
Karnataka: AIGF, Gaming Companies Move High Court Challenging Online Gambling Law
The Indian Express

Days after ban on online gambling in Karnataka, case lodged against Dream 11

Days after the Karnataka government notified amendments to the Karnataka Police Act, 1963, which seeks to ban online gaming and curtail online gambling, a case has been registered against Dream 11, an online fantasy sports platform in Bengaluru. This is probably the first case registered after modifying the law to curb online gaming. On October 7,…
Sports
Days after ban on online gambling in Karnataka, case lodged against Dream 11
The Hindu BusinessLine

Industry appeals Karnataka high court against online gambling law

All Indian Gaming Federation (AIGF), Mobile Premier League, Games24x7, Gameskraft and Head Digital Works Private Limited have filed writ petitions in the Karnataka High Court against the State's online gambling law. All five petitions were filed on Thursday, October 7. The Karnataka Police (Amendment) Compliance Act, 2021, which was notified on…
Law
Industry appeals Karnataka high court against online gambling law
Money Control

MPL, Games24x7, AIGF Approach Karnataka High Court Against Gambling Ban

Skill gaming industry body All India Gaming Federation along with real-money gaming firms Mobile Premier League (MPL), Games24x7, A23(Ace2Three), and Gameskraft have approached the Karnataka High Court appealing against the state's online gambling law that came into effect on October 5. These firms have filed writ petitions in the Karnataka High…
Law
MPL, Games24x7, AIGF Approach Karnataka High Court Against Gambling Ban
Money Control

Karnataka Gambling Law: MPL & Other Gaming Startups Block Users From Playing Real Money Games

October 06, 2021 / 08:36 AM IST Real-money gaming startups have started blocking access to residents in Karnataka after the state government notified the online gambling law with immediate effect on October 5. Gaming platform Mobile Premier League (MPL), which hosts online tournaments across more than 70 mobile games, has updated its terms and…
Law
Karnataka Gambling Law: MPL & Other Gaming Startups Block Users From Playing Real Money Games
TalkEsport

Karnataka Proposes Ban on Online Games Involving Betting and Gambling

The government of the Southern State of India - Karnataka, Home to India's Silicon Valley aka Banglore, has proposed a law to ban online games and gaming activities involving elements of wagering and gambling in an effort to curb the increasing gambling addiction among the rural youth population. The Karnataka government has moved a bill proposing…
Law
Karnataka Proposes Ban on Online Games Involving Betting and Gambling
MediaNama

Karnataka's bill banning online gambling makes industry stakeholders unhappy

The Karnataka legislative assembly's lower house on September 21 evening approved a bill banning all betting and gambling by passing the Karnataka Police (Amendment) Bill, 2021, which MediaNama obtained and summarised last week. The law drew rebukes from industry players and their associations, and legal experts cast doubt on whether the law would…
Industry
Karnataka's bill banning online gambling makes industry stakeholders unhappy
The Kashmir Monitor

Online Gaming Growth in India Shows Need for Regulation

Across the Subcontinent, consumers have flocked to online and mobile games, with real-money and casual gaming topping rankings. The Centre's hesitant stance on regulation has left most States with no guidance on a sensitive subject like online gambling. India has surpassed 750 million active internet users in the past year, almost all via mobile.…
Law
Online Gaming Growth in India Shows Need for Regulation
Nikkei Asia

India's online gambling problem spurs calls for regulation -Nikkei Asia

NINAD D SHETH, Contributing writer NEW DELHI -- The coronavirus pandemic has left many in India stuck at home during a series of total and partial lockdowns, and such isolation, combined with some of the world's cheapest internet rates, has made it both tempting and easy to gamble online. For Arindam Mukharjee, a media professional, playing poker…
Law
India's online gambling problem spurs calls for regulation -Nikkei Asia
MediaNama

Plea in Kerala HC seeks ban on online gambling, particularly rummy

There is a fresh plea, this time in the Kerala High Court, asking for online gambling and wagering platforms - or real-money gaming platforms depending on what state you are in - be regulated and monitored. Filed by one Pauly Vadakkan, a film director, the petition pleaded the Kerala HC to declare online betting and gambling, particularly online…
Rummy Games
Plea in Kerala HC seeks ban on online gambling, particularly rummy
European Gaming

Top 5 Online Gaming Apps to look for in 2021

The ongoing pandemic has increased the user base of the online gaming industry at an exponential rate. The digital revolution, especially during the time of COVID-19, has been a boon to various sectors, online gaming is one of them. Platforms such as Paytm First Games, Stick Pool Club, Mobile Premier League (MPL), etc. witnessed a huge spike in…
Top and Best
Top 5 Online Gaming Apps to look for in 2021