Shri Ajay Bhatt additionally took cost as Minister of State within the Ministry of Tourism
For First Time Most Useful Minoxidil In India for Individuals Experiencing Hair Thinning – Adonsidil Finstrong 2.5X
#JITENDRA EV TECH starts its newest EV 2021-JET 320 full of Finest in category features #LocalBol, a neighborhood program helping communities at that period of distress #Specialized Zoom-like Smart Hybrid Fitness Platform enabling Gyms & Trainers #Acclaimed artist & composer Tubby, creates a Drive Home using’Keh Rahan’ #Cotton Cottage celebrates 16 years – sharing the Dramatic procedure of making their services and products #Spirituality — a training course About The Science Of Living #Aaddress.in- The Digital Workplace Firm, Saving Tens of millions of Rupees of Entrepreneurs Throughout India, that’s Unknowingly invested on workplace infrastructure #SPDS 10th Annual Global Seminar on Dissolution Science and Software to Become Held on the Web in Collaboration With AAPS, USA & Running the Big Event Jointly
#MA Murtoza, Guinness World record holder, also a crusader on the mission to produce India fit #Sandeep Maheshwari, typically the very common Indian inspirational speaker starts SMtv #Sat Reserves Order On “Independence” Of Independent Director #Dr. Rama Arora, both the faculty members and students to produce yoga an essential component of our everyday life with Yogacharya Amit Dev #Inspired by Ministry of Tourism, Dr. Mitra Finishes her Drive Through the bylanes of Incredible India!
#MONETAS: a brand fresh Definition to Gambling Power and Utility Services #COVID SOS INDIA — A combined platform for several COVID-19 Resource contributes around India #Apparel Brand Thinking Tees Announces Launch of its ECommerce Site #O3 AIR WAVE devices every Indian should have, to destroy bacteria and viruses in the air we breathe! #Satmya – Wholesome Holistic Nourishment #Electrum Fintech, YES BANK, and NPCI launch ‘ZRO Prepaid Card’ powered by RuPay #What is the GMAT? – Target Test Prep #The Helping Hand Initiative Is Leading the Charge Against COVID #Book your Health & Wellness with Equator’s Allergen feature #Libra Ecosystem (Libra) Launched In India; Exchange & E-commerce Coming Soon! #Hitachi Increases Market Reach with The Launch of Premium Products #People around the globe are coming together to pray for peace and well-being during this pandemic – 24hrs Online Mahamantra Kirtan Mahayajna by JKYog #Top Anthology Publication House | Spectrum Of Thoughts Publication | FanatiXx #Dogecoin Is Now Bigger Than Infosys, Hindustan Unilever, ICICI & Airtel #Kaamastra.com released its BDSM Market Report for India for 2021 With lockdowns and work from home, this year has been kinkier than ever in India! #XProEM and ZIPTRAX CLEANTECH Enter Strategic Partnership to Recycle India’s Growing Lithium-Ion Battery Waste #CovidTweet: A faster way to find Covid-19 medical resources in India #“Nojoto: India’s Largest Storytelling Platform” launches Virtual Gifts to enable 8,00,000+ Storytellers to earn directly from their content #Naya11 to catch the market in this IPL season: Popular Gamers introduced their fantasy cricket game #FreeConferenceCall.com Offers Free Video and Collaboration Tools in India to Support Coronavirus Response #Kisanrao Dhavaji Rathod aka KD Rathod – A Successful Businessman and a Happy Family Man #F K Awaaz Production Launches a New Era of Cinema! #How Mumbai’s Basilica Art House is Pioneering the Digital Art Revolution with Technology & Esotericism #GrowthBeats organized Global Growth Accelerator Awards 2021 #Vertex Global Services Expands Its Operations into Nepal #Speech and Debate India students advance Globally! #योग योगेश्वर महाप्रभु रामलाल जी भगवान का 133 वां जन्मोत्सव – दो दिवसीय आध्यात्मिक आयोजन #Now it’s very easy for Ecommerce store & business owner to build Mobile App and Website with Intelikart #India’s new J-Pop mantra? “ARIA OF LIFE” by Wagakki Band from the anime MARS RED #TiEcon 2021: From Startup to IPO – Founders, Funders, Public Lister, and Storytellers Will Engage a Global Audience #Shri Prahlad Singh Patel addresses webinar ‘India’s Heritage: Powering Tourism’ on occasion of World Heritage Day 2021 #Mega tourism advertising occasion “Tapping the Potential of Kashmir: Another Day in Paradise” coordinated recently at Srinagar emphasizes tourism possibility of Jammu & Kashmir at a major manner #Global India Business Forum – National Awards for Business Excellence 2021 #IIBM Institute of Business Management Edtech company, Awarded as “Emerging Data Science Institute of the Year” by the National Excellence Awards 2021 #Was Columbus Familiar With Malayalam? #Shri Manoj Sinha and Shri Prahlad Singh Patel inaugurate the mega tourism advertising occasion “Tapping the Potential of Kashmir: Another Day in Paradise” being hauled in Srinagar #‘Souza: The Enfant Terrible’, Bid & Hammer’s auction from 14th-17th April 2021 #Rajaram Sundaramurthy, a social worker serving people of Mysore #World’s Largest Virtual Gathering of Technology Entrepreneurs Happening at TiEcon 2021 #Dragonfleet Games Pvt. Ltd. launches Fantasy cricket app OnField11 #LPFLEX bags another mega signage, graphics & wayfinding project from Mumbai Metropolitan Region Development Authority – Mumbai Metro #उच्चकोटि के ग्रहस्थ योगी सद्गुरुदेव योग योगेश्वर देवीदयाल जी महाराज का 101वाँ जन्मोत्सव #Influencer Marketing Platform Launches Indian Instagram Influencer Services #Building D2C ECommerce platforms, Infoscalez Tech Pvt Ltd catalyses growth for brands #“How COSSUE is Revolutionizing Online Luxury Shopping in India” #Suresh Pannu, an Indian Artist and YouTube personality #Learn Music Online With Music Pandit For Free #Jaro Education & IIM Nagpur Announces a Series of Programmes to Escalate the Future of Education #The World’s First Image Scientist Dr. Kuiljeit Uppaal Honoured With Bharat Gaurav Award For Exemplary Work In Global Society #Brief of MICE Roadshow ‘Meet in India’ to be organized at Chhatrasal Convention Centre, Khajuraho during March 25-27, 2021 #Smart City Visakhapatnam gets the ‘World’s First Mobile Water from Air Kiosk and Water Knowledge Centre’ #This Oxford Awardee Indian Law Educator is breaking records & transforming how Legal Education is seen in India #युवा लोगों और बच्चों में गेमिंग की लत पर विशेषज्ञ की सलाह #Kimaya Healthcare Takes Care of the Creators in the Best Way! #Digital Transformation in Business Communication #Celebrated the spirit of being a woman at the UN designated 14Th Edition of the International Women’s Day Awards #New book ‘THE DECODE’ by Parul Jain reveals how the universe works to unleash true human potential at work and life #Lyftly India Launches Groundbreaking Digital Solution for Wellness Care in India #Expert advice on gaming addiction in young people and children #Nayan Kambli Founded Money 2 Me Shares Indian Gold Market Analysis Data and The Role of NBFCs in It #IIT BHU & Ballistic Expert Jeetendra Kochar join hand to develop technology for key government defence Projects #Gita Enthusiasts across the globe participating in the Grand JKYog International Gita Festival #‘One Last Kiss’ by Hikaru Utada, directed by Hideaki Anno from Evangelion fame, is a hit among fans!! #Dinesh Shahra Foundation reiterates commitment to the cause of Tree Conservation by celebrating Green Gold Day #Delhi Flying Club marks Biju Patnaik’s Birthday as “Legendary Indian Pilots Day” #Banka BioLoo Limited gets R&D Recognition and Certification from DSIR, GOI #Industry-first practice 1 year fuel free by JITENDRA EV TECH #Prolifics Teams with IBM to Help Enterprises Manage Hybrid Cloud Workloads #Enormous Brands create #Womentum a song for Reliance GI, to celebrate World Women’s day #Indian Youth Leader Parvati Jangid Wins Republic of Women Presidency (World’s First Borderless Digital State, representatives in 120+ Countries, 10K members) #Blown officially launches BlownBox, a unique opportunity to discover and indulge in beauty like never before #Asian DeepTech Startup ENHEROES builds a Super AI Console for Intellectual Sustainability #Dr. Prakash Bhosale received a Doctorate in “Business Journalism” for his remarkable work in Entrepreneurship & Business Writing #Innovative Equator presents Venting/Ventless Dry in Washing machine #AmberFlux named as one of the Edge computing companies to watch in 2021 #Donor Crew: The Best Donation Aggregation Platform In India #Creative Business Labs makes a strategic choice for the Thinkwise Low-Code Platform #“Ayurvedic Cannabis Rolls for the 1st Time in the World” #Deep Jandu Is Not Slowing Down ! #Jhanwi Creative Studio – The Best Studio For Pregnant Moms And Newborns Photoshoots #After a successful launch of #CodeAtHome in Europe, it would now make its journey towards India #Biziverse announces mega online tradeshow ElectroB2B Expo for Electronics manufacturing #Doctors at Cloudnine successfully perform a rare fetal procedure for the first time in Gurgaon #HouseholdPackers: How this logistics company can help you save loads of money #Tourism Minister Sh. Prahlad Singh Patel inaugurates 3 days Incredible India Mega Homestay Development & Training Workshop in Darjeeling #TPConnects certified as Emirates’ technology partner #First Time Ever: 100{8c657c652d9ccb8e023b76ec6e855c4f67e3d8310835fa7f7c0b431851e0a23b} Natural Stain Free Turmeric Skincare #NARUTO/BORUTO fans rejoice! New single “BAKU” (Opening song from BORUTO: NARUTO NEXT GENERATIONS” by Ikimonogakari goes on sale today! #MyShubhLife (earlier“Shubh Loans”) raises USD 4 million from Singapore-based Patamar Capital and existing investors #BIBS Launches Its First Winter MBA Batch in Feb 2021 #Hewa urged Hon’ble PM‘s Intervention for continuation of (WTO Compliant) RoSCTL scheme till RoDTEP rate notification for achieving targeted goals of employment generation #Singing Cosplayer Hikari, popular among Indian audiences, released a new video “Senbonzakura” by KurousaP Feat. Hatsune Miku at Ryuukouji Temple on Youtube #Shree Rajput Karni Sena warns the makers of the movie Prithviraj to stop playing with Hindu Sentiments #Clinic Dermatech Celebrates The Power Of Womanhood Offering its Services at Flat 51{8c657c652d9ccb8e023b76ec6e855c4f67e3d8310835fa7f7c0b431851e0a23b} Off! #Blue Eye Entertainments announces the launch of Movie Pooja in a star-studded event #Roshan Energy Signs MOU With US Firm for Lithium Battery Production and R&D in India and North America #Click and Hire Proclaims the Launch of Their Service Website #Youth Seminar on Goal achievement and Resolutions for the year 2021 by Life Transformation Coach Jitendra Khimlani #Singing Cosplayer Hikari has uploaded a cover song of HoneyWorks feat. GUMI/Confession Rehearsal (Kokuhaku Yokou Renshuu) for the Valentine’s Day! #The emphasis on infrastructure creation in the budget will help to boost tourism sector: Shri Arvind Singh #Meet Animesh Kumar Who is Ready to Give Free Counselling regarding Digital Marketing & Public Relations #Cricket-Betting.com secures £500K funding round to launch brand globally #RANIGA is all set to Launch ‘Vitamin C’ Face Wash on 12th February 2021 #Clinic Dermatech’s World Class Facility for Advanced Hair & Skincare Aesthetic Treatments is Now Open in Lucknow! #XProEM Ltd. eyes the Indian Market with launch of new disruptive technology for Lithium Ion Battery Recycling and Cathode Restoration #UK-based Contec Global inks over USD 200 million deal with Maithri Aquatech for propagating sale of its Air-to-Water sustainable water solutions across Africa and Middle East #SBF Healthcare: Providing the Healing Touch #‘World Cancer day-2021’, was observed by India tourism North East on 4th February, 2021 by visiting the cancer patients of the State Cancer Institute, GMCH, Guwahati #GIFLIF DriveIn Music Festival: India’s First Ever #Announcing the launch of Oceantrade Media Private Limited #“EXPANSE- Range of Liquid Reactive Dyestuff for Textiles” Salt Free, sustainable liquid Reactive dyes Replaces Indigo from Denim processing & Sodium Alginate from Reactive printing application #Dr. Jyotsna Joshi regarded as the Icon of Health at the prestigious Times Group Awards #Indiagift launches romantic Valentine Gift store to surprise your Sweetheart #India’s proud moment! 22- year old Indian Gujarati Man has dedicated India’s first private search engine “QMAMU” to the nation on Republic day #A Rising Eagle – The Story Of A Middle Eastern Indian Woman Who Overcame Obstacles To Become A Globally Influential World Changer #India’s Top Emerging Boxers to fight for honors at Pro Boxing Event in Mumbai on 30th January, 2021 #Indian company Earthyboon focuses on supplying health-improving natural remedies #Priyanka Upadhyay Debut in Bollywood with “Pune to Goa” #Ministry of Tourism, Government of India organises Bharat Parv 2021 virtually from 26th – 31st Jan’21 #Progressive Artists Group members M F Husain & K H Ara lead Bid & Hammer’s auction #Poet Prashant Bebaar’s debut book ‘Dareeche’ launched by music maestro Anup Jalota #PERSONAL FITNESS TRAINING #WHAT IS PROPER RUNNING AND WHY SHOULD YOU CARE #Fitness: Are you fit enough for the army? #LUCK IN THE GAME, HAPPINESS HORMONES IN THE BRAIN #What is happiness and what makes us happy? #Stylish sports fashion for yoga, fitness & an active lifestyle #Lava to bring new smartphones, curtain will rise on January 7 #5 WINTER SUPERFOODS THAT WILL KEEP YOU HEALTHY AND ENERGETIC #Five basic yoga stretches to start the day #ISRO launches RISAT-2BR1 satellite, will keep an eye on borders #fitness tips for students #MUSCLE HYPERTROPHY WITHOUT WEIGHTS- IS THAT POSSIBLE? #MEDITATION AND SPORT – A FRUITFUL SYMBIOSIS #Have always wanted to have a neigh just like youTax Tsunami Sweeps Betting Giants Off Indian Shores: 7Cric Steadfast Amid Turmoil
- 66 Views
- FIL2023MANIA
- October 13, 2023
- Game
Online Gambling Stricture: A Prelude
The recent tax increase in India from 18% to 28% on Gross Gaming Revenue (GGR) has led to significant challenges for online gaming companies operating in the country. This tax hike was announced by the Indian government, aiming to impose a 28% tax on the funds that online gaming companies collect from their customers. This move is viewed as a considerable setback to the $1.5 billion industry, which had been gaining popularity and attracting foreign investments.
The increased tax rate has been met with disapproval from industry representatives, who foresee a detrimental impact on their earnings, with the likelihood of extra charges being passed on to customers. The new tax regime poses substantial challenges to the gaming industry’s cash flow and has been termed as “unconstitutional” and “irrational” by some stakeholders like Roland Landers, CEO of The All India Gaming Federation. Before this amendment, companies were taxed a smaller amount on the fees they charged for offering real money games. The new tax structure now imposes a 28% tax on the entire amount collected from players in every game, which is a significant jump from the previous tax regime.
The Exodus: Bet365 and Betway Bid Adieu
The exit of Bet365 and Betway from the Indian market has sent ripples through the gambling industry, underscoring the broader challenges operators face in the country. The core reason for their exit was the 28% GST implemented on offshore gambling companies, which is a significant jump from the previous 18% tax on gross gaming revenue. This tax increase is seen as a substantial burden for many betting companies, making the Indian market less attractive. Their exit might set a precedent for other operators eyeing the exit door, anticipating a ripple effect in the industry.
The companies cited the recent tax hike from 18% to 28% on gross gaming revenue as a pivotal factor in their decision, stating that it significantly impacted the viability of their operations in India. Here are the implications of their exit on the industry and users:
Legislative Ambiguity: Beyond taxation, the legislative environment in India also poses challenges. The amendment to the country’s Information and Technology Act 2000, which facilitated the tax hike, coupled with varying state laws on online betting, creates a murky regulatory landscape for operators3.
Loss of Major Players: Bet365 and Betway were notable entities in the Indian gambling scene. Their exit could lead to a vacuum, potentially affecting the market’s competitiveness and the options available to bettors.
Impact on Users: The exit of these major players could limit the options available to Indian bettors. Furthermore, if more companies follow suit, this could further reduce the choices available to local gamblers.
Potential Reduction in Innovation and Investment: With major players exiting, there could be a reduction in the level of innovation and investment in the Indian gambling market. These companies not only provided competition but also brought in new gaming technologies and marketing investments that benefited the industry.
Negative Signal to Other Operators: The exit of Bet365 and Betway might send a negative signal to other international gambling operators considering entering the Indian market. The high taxation and complex regulatory environment could deter them.
Increased Scrutiny on Remaining Operators: With the exit of these reputable operators, there might be increased scrutiny on the remaining operators, especially concerning adherence to regulatory requirements and tax obligations.
Looking Forward: An Uncertain Horizon
The exit of key players casts a long shadow on the future of online gambling in India. While some operators might find the Indian market high-risk, others might see an opportunity to fill the void, provided they can weather the tax storm.
What’s Next?
Despite the recent exit of Betway and Bet365 from the Indian market, the gaming landscape continues to thrive with a few reliable casino operators like Fun88, Dafabet, 7Cric , and Parimatch. These platforms are dedicated to consistently providing the best gaming entertainment to Indian players. They not only accept Indian rupees, making transactions hassle-free but also ensure a safe and reliable online gambling experience. While the future of online gambling in India appears uncertain and challenging due to regulatory hurdles, it is neither hopeless nor futile. The presence of these steadfast operators highlights a glimmer of hope and potential for the industry. As enthusiasts and stakeholders, we look forward to better online gambling regulations and development in the future, fostering a conducive environment for both players and operators.
Filmania – Best Press Release Distribution Services.
We Guarantee Maximum Media Pickups!
Filmania is one of India’s biggest Press Release Distribution Network. We are specializing in the delivery of press release content with multimedia to the media channels, individual investors, and the public.
- Innovation in Residential Development: A Conversation with CEO Pranav Rastogi
- India Welcomes Its First AI Desktop PC: RDP Unveils Groundbreaking Technology Powered by AMD Ryzen™ AI Processor
- Sanjar Creation: Preserving Tradition, Embracing Elegance
- Offrd Expands Operations in India to Enhance Local Engagement
- Course Dhundo: Your Personalized Guide to Navigating Your Educational Journey
- Arts & Entertainment
- Award
- Book
- Business
- Charity
- Crypto
- Cultural and Religious
- Education
- Entertainment
- Event
- Fashion
- Finance
- Fitness
- Food
- Game
- Gaming
- General News
- Health
- Health & Fitness
- Hindi News
- Human Resource
- Latest News
- Lifestyle
- Music
- News
- News From India
- NGO
- Non-Profit
- Science
- Social
- Sports
- Technology
- Technology News
- Tourism
- Travel