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Yogonet

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 ・ 13 July 2023

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 ・ 13 July 2023

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 ・ 12 July 2023

Dazeinfo

Indian Online Gaming Market in Doldrums: 28% GST Could Be Disasterous

The latest announcement of a tax increase by the GST council on the online real money gaming industry has sent shockwaves through businesses like Dream11, MPL, Crickpe, Games24x7, and players in the industry. In fact, the move has apparently jeopardised their future growth plans and their existence. The GST council, led by the formidable Union…

Industry ・ 12 July 2023

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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 ・ 03 July 2023

knownews.in

E-Gaming Federation announces to challenge Tamil Nadu regulation to ban online gaming

E-gaming Federation will challenge a regulation issued by the Tamil Nadu government to ban online gaming as it categorizes rummy and poker as games of chance, the industry association said on Wednesday. E-gaming Federation (EGF), whose members include Games24x7, MPL and Junglee Games, cited a Supreme Court ruling that, according to the industry…

Industry ・ 02 February 2023

rediff.com

Online Gaming: Age Verification Coming!

Gaming platforms will also be required to display a warning after a certain time of usage to reduce the risk of addiction. The ministry of electronics and information technology (MeitY) is close to finalising a policy to regulate online gaming and is likely to mandate an age verification mechanism and know-your-customer (KYC) norms for all…

Industry ・ 26 December 2022

Brand Equity

online gaming ban: Ban promotion of online gambling, Karnataka BJP MLA implores Centre

Former Karnataka law & education minister S Suresh Kumar has written to Union Ministers Amit Shah and Nirmala Sitharaman urging them to ban the promotion of online games involving monetary bets through advertisements, text messages, mobile calls and other forms of marketing. In separate letters, he said he was aware of the court rulings allowing…

Law ・ 18 December 2022

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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 ・ 01 December 2022

Money Control

Tamil Nadu gambling law: Online rummy, poker firms block users from playing real money games

October 10, 2022 / 04:52 PM IST Online rummy and poker platforms such as Adda52, RummyCircle, Junglee Rummy, and PokerBaazi have started blocking access to people in Tamil Nadu after the state governor approved an ordinance on October 10 to ban online gambling. Puneet Singh, co-founder and COO of Baazi Games, which runs the online poker platform…

Rummy Games ・ 10 October 2022

European Gaming

“MPL launches India’s first multi-game Loss Protection initiative for a risk-free gaming experience”

MPL, one of the world's largest mobile and skill gaming platforms, has announced India's first ever multi-game Loss Protection policy that is aimed at safeguarding the interest of the players. With this policy, gamers can claim a refund of up to 100% of the net loss that they may have incurred after playing 10 gameplay sessions with specified…

Trust and Safety ・ 01 October 2022

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 ・ 21 September 2022

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Mint

I-T dept's idea of gross winnings can kill online gaming

Recent reports indicate the Department of Income Tax is taking a look at the online gaming industry, and trying to assess possible tax evasion. Nitin Gupta, Chairman CBDT, has said a single online platform had ₹58000 crore in "gross winnings" over the last three years and the IT Dept is contacting winners to ask them to pay up tax dues. The…

Winnings ・ 07 September 2022

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 ・ 27 June 2022

Outlook

28 Percent GST On Online Gaming? Industry Reckons May 18 Could Be 'Doomsday'

May 18 could be D-Day for the online gaming sector. More specifically, for the real money gaming domain that operates in India in various "skill-based" forms like fantasy cricket, rummy, poker, roulette, ludo, and even snakes and ladders! () For years, the Centre has deflected the issue of gambling/betting to the states under whom the matter lies…

Industry ・ 17 May 2022

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 ・ 30 March 2022

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BW Businessworld

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 ・ 09 March 2022

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 ・ 17 February 2022

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 ・ 15 February 2022

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 ・ 14 February 2022

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There is no proposal to include online gaming with gambling: MeitY in response to a parliamentary question

The Indian government has no proposal to include online gaming under the category of gambling, Minister of State for Electronics and Information Technology Rajeev Chandrasekhar said in response to a question in the Rajya Sabha. The ministry said that "the government is aware of the growing number of online games available in India and also the…

Politics ・ 14 February 2022

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 ・ 14 February 2022

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 ・ 23 January 2022

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 ・ 23 December 2021

The Jerusalem Post

Despite ban in Karnatak, India online casinos expect 3x growth in 2022

Recently Karnataka, a state in the southwestern region of India, has banned online gambling and related activities in the state. Although the state was a hub of online gamers and gaming startups, the ban may have only a slight impact on the online gaming market in India. Different state governments in India have different perspectives towards…

Rummy Games ・ 15 December 2021

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 ・ 28 November 2021

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 ・ 03 November 2021

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 ・ 27 October 2021

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 ・ 26 October 2021

Hindustan Times

Karnataka HC to hear plea against arrests in online gambling ban on October 27

The Karnataka high court on Friday formally observed that the government can accede to requests that no arrests be made under the new law that bans online gambling. However, there was no order to this effect, people aware of the developments said. "There is no order or any direction. The case has been posted for Wednesday (October 27) for…

Incidents ・ 22 October 2021

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 ・ 22 October 2021

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 ・ 18 October 2021

Money Control

Karnataka Gambling Ban: No Significant Impact On Delta Corp's Online Skill Gaming Business

October 13, 2021 / 05:07 PM IST Ace investor Rakesh Jhunjhunwala-backed casino and hospitality firm Delta Corp doesn't expect Karnataka's recent gambling ban to have an impact on its online skill gaming operations. Delta Corp currently operates an online poker site Adda52 and rummy platform Adda52Rummy through its subsidiary Gaussian Networks.…

Industry ・ 13 October 2021

Pokerfuse

Indian Gaming Body, Operators Appeal Online Gambling Ban in Karnataka

Just days after Karnataka banned online gambling in the state, affected stakeholders have appealed the decision in the court hoping to revoke the ban. The All India Gaming Federation, a self-regulating gaming body, along with three other gaming operators, has filed a writ petition in the state's High Court challenging the legality of the amended…

Poker ・ 12 October 2021

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 ・ 11 October 2021

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 ・ 10 October 2021

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 ・ 09 October 2021

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 ・ 08 October 2021

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 ・ 06 October 2021

Trak.in

This State Bans All Forms Of Online Gambling: Pay Rs 1 Lakh Fine If You Gamble Online

The Karnataka government has banned all forms of gambling in the state. This includes online games which involve an entry fee or registration fee. The bill now makes gambling a cognisable and non-bailable offence. Those charged will face a three-year jail term (changed from 1 year) and a fine of up to Rs 1 lakh. Those found to be operating,…

Sports ・ 05 October 2021

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 ・ 04 October 2021

BW Businessworld

Karnataka Govt Bans Online Gaming To Stop Digital Gambling Causes Uproar

Chief Minister Basavaraj Bommai said the proposal is not valid for online games that strictly comply with the "game of skills". 1630347669_u3u7wF_Untitled_design_17_.jpg Amid all the controversy and flak from the gaming industry, the Karnataka Assembly has passed an amendment to the Karnataka Police Act, 1963, which seeks to ban online gaming and…

Industry ・ 24 September 2021

Money Control

How Karnataka's Online Gambling Bill Could Impact Skill-based Gaming Startups

Karnataka's proposed amendment to ban online gambling could have major implications on Indian skill-based gaming startups, since it brings them under the ambit of the regulation by removing the distinction between game of skill and game of chance, according to industry experts. Karnataka's legislative assembly had tabled the bill on Friday to amend…

Sports ・ 21 September 2021

The Hindu

Karnataka Bill banning online gaming will hurt Indian start-ups: CAIT

A file photo of video gamers at the Penny Arcade Expo, a fan-centric celebration of gaming in Seattle, US. | Photo Credit: AP Confederation of All India Traders (CAIT), which represents eight crore traders and over 40000 trade associations, said that the Karnataka Police (Amendment) Bill, 2021, tabled in the legislative Assembly to ban online…

Industry ・ 21 September 2021

Bangalore Mirror

karnataka: Traders miffed with online gaming ban

Confederation of All India Traders (CAIT), the powerful trade body that represents 8 crore traders and over 40000 trade associations, said that a proposed bill in the Karnataka assembly to ban online gaming will hurt the Indian startup sector, the Indian gaming and animation industry and millions of Indian gamers and e-sports players. The Karnataka…

Industry ・ 21 September 2021

The Hindu BusinessLine

Gaming industry optimistic about upcoming Karnataka Draft Bill on online gambling and betting

As Karnataka inches towards banning online gambling and betting, industry groups representing gaming start-ups are optimistic that the State Bill will make the distinction between the game of skills and game of chance, going by the definition of the online game shared by Law and Parliamentary Affairs Minister, JC Madhuswamy. The Karnataka Draft…

Industry ・ 09 September 2021

Money Control

Nazara Technologies Eyes Bigger Pie Of Online Skill Games With OpenPlay Acquisition

Industry ・ 31 August 2021

Technosports

EvenBet Gaming enters Indian market with new skill game ‘Call Break’

Thursday, 19 August, 2021 India: Leading online gaming software developer EvenBet Gaming has added the in-demand card game'Call Break' to its platform's extensive library of titles. The game was recently launched by such popular platforms as MPL and Faboom which is owned by Adda 52, a subsidiary of Delta Corp. This marks the 35 card game adapted by…

Mobile ・ 19 August 2021

European Gaming

EvenBet Gaming strengthens offering with new card game Call Break

Leading online gaming software developer EvenBet Gaming has added the in-demand card game Call Break to its poker platform's extensive library of titles. The skill-based strategy card game has seen a huge uptick in popularity across South Asia, particularly in India and Nepal. With relatively few vendors offering Call Break, EvenBet's new version…

Mobile ・ 14 July 2021

Inc 42

Blocking Online Gaming Sites In India Technically Infeasible, Says Centre

The centre said many states have already imposed laws allowing online gaming sites The Delhi HC petition alleged that online gaming sites were involved in money laundering and encouraged gambling The centre also said it would need to be determined whether sites were operating games of skill or games of chance Responding to a Delhi High Court order…

Industry ・ 19 June 2021

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Kerala High Court Issues Notice To Virat Kohli, Tamanna Bhatia, Aju Varghese On Plea To Ban Online Gambling

The Kerala High Court on Thursday issued notice to Indian cricket team captain Virat Kohli, actors Tamanna Bhatia and Aju Varghese, and the State Government on a plea seeking to ban online gambling. A division bench comprising Chief Justice S Manikumar and Anil K Narendran issued notice on a Public Interest Litigation(PIL) petition filed by film…

Law ・ 28 January 2021

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 ・ 19 January 2021

Pokerfuse

Another Indian State Bans Online Gambling

The future of real money gaming in India is once again under scrutiny as another state has banned online gambling and made it punishable by imprisonment and fines. On November 20, the Southern Indian state of Tamil Nadu, with a population of 72 million, promulgated an ordinance restricting online gambling in the state, including online rummy and…

Poker ・ 19 January 2021