This article was published in the latest issue of the @International Masters of Gaming Law magazine.
Summary
2022 has heralded a new era for India’s online gaming industry. Historically, real money gaming has been plagued with social and ethical concerns. However recently, the Indian Government has begun to recognize the gaming industry as a pillar of the Indian economy. Indian courts have also reiterated that offering online games of skill is a protected business activity. Indian gaming companies have achieved unicorn status and have been listed on the stock exchange.
On the flipside, there has also been greater scrutiny of the industry. There has been scrutiny of offshore gambling platforms offered remotely in India, and unlawful gambling advertisements, potential tax evasion and foreign exchange and money-laundering violations by gaming operators.
As the industry is poised towards central regulations, we recap some of the significant developments and enforcement actions driving the change in India’s online gaming industry today.
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– Tanisha Khanna & Gowree Gokhale
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