Tag: Online Gaming

India’s iGaming: Taxed to extinction, or a catalyst for change?

If the Supreme Court denies the requested relief, the consequences for the online gaming industry could be severe. The industry may be driven underground, with more businesses operating in gray areas, writes Aruna Sharma, Development Economist and retd Secretary GoI.

This tax is contentious because the total wagered amount includes both entry fees and prize money, which do not fit neatly into the definitions of goods and services, writes Aruna Sharma, Development Economist and retd Secretary GoI.

Pre-GST boom, post-GST gloom: Online gaming stumbles in India

Inspired by Mahatma Gandhi’s wisdom, “Be the change you wish to see,” Growth Ka Chashma invites investors to “Spot the growth you want in your portfolio.” It simplifies financial literacy with a gamified approach, combining advanced AI with market analysis to make stock market learning more accessible.

For a sector which has created 100,000 jobs and was expected to create around three times more jobs in coming years, such job erosion is an alarming concern that reflects the adverse business impact of the GST amendment, the report points out.

PokerBaazi unveils Baazi Millions tournament

The tournament will begin on 1st June and will conclude on 9th June. It offers a guaranteed payout of Rs 10 lac each to the top 25 rank holders.

The poker platform in its first edition of Baazi Millions will initiate a fixed pay-out structure for the top 200 rank holders. The top 25 rankers will bag a million each.

Online gaming industry faces potential 50 percent revenue drop after 6 months of 28 percent GST implementation

In addition to the basic rate of 30 percent, a health and education cess at the rate of 4 percent of the amount of tax is levied. Thus the effective tax rate on lottery winnings comes up to 31.2 percent. (Image sourced via Unsplash)

To weather the storm of a significant revenue drop in the financials for the last six months, among other cost cutting measures, online gaming companies are slashing marketing expenses by over half.

Central Consumer Protection Authority issues advisory on prohibition of endorsement of online gambling platforms

Such sites pose significant financial and socio-economic risks for consumers, especially youth and children and the Ministry of Information and Broadcasting (MIB) has previously issued multiple advisories asking television channels, digital news publishers and OTT platforms to refrain from showing advertisements for online gambling sites and surrogate advertisements. (Representative Image: Jack Hamilton via Unsplash)

The advisory has been issued in the context of proliferation of advertisements promoting anti-national illegal online gambling platforms, which are increasingly been endorsed by sportspersons and actors from the Indian film industry.