The Future of Real money gaming industry in India.

With the possibility of new sports betting restrictions emerging around the world, there will be a greater emphasis on risk management and responsibility as the industry seeks more growth and profitability

Sport betting market, which represents the gambling market driven by the outcomes of sporting events. Over the past few years, the sports betting industry has experienced a significant transformation, particularly in the United States. With rapid growth following the legalization of sports betting in many states, the industry is now facing new opportunities and challenges, from technological advancements to the rise of mobile betting and concerns about betting addiction.

First, let’s talk about the global expansion and regulatory changes in the sports betting market. With more markets opening up to licensed operators, increased competition has driven innovation and growth in the sector. The 2018 Supreme Court decision to strike down the Professional and Amateur Sports Protection Act (PASPA) has allowed states to legalize sports betting individually, leading to a rapid increase in popularity and tax revenue.

Now, let’s discuss the rise of online and mobile betting in regards to the sports betting market. With the growth of the internet and smartphones, sports wagering has become more accessible than ever. Innovations like in-play betting and cash-out functions have transformed the sports betting experience, making it more dynamic and interactive.

As sports betting becomes more mainstream, we’re also seeing a growing convergence between the worlds of sports betting and media. This has led to partnerships between betting operators and sports leagues, teams, and media organizations, such as DraftKings’ agreement with the Chicago Cubs and FanDuel’s partnership with the New York Yankees. But it’s not just traditional sports betting that’s getting attention. The rise of NFTs and blockchain technology has opened up new possibilities for sports fans and investors alike.

At the Same time when Betting industry in booming in western countries, India government decided to impose and additional 10% Tax from 18% to 28% tax on funds that online gaming companies collect from their customers for every bet, shocking the nascent $1.5 billion industry which is backed by global investors the implementation of a 28 per cent tax rate on Betting in India will bring significant challenges to the gaming industry. This higher tax burden will impact companies' cash flows, limiting their ability to invest in innovation, research, and business expansion".

The government bodies need to understand that skill-based games and apps engaged in betting or casinos should not be treated in the same manner.

Gaming and gambling are chalk and cheese at every level; regulatory, legal, structural, psychological, and sociological.

According to the E-Gaming Federation (EGF), a tax burden where taxes exceed revenues will make the online gaming industry unviable and boost black market operators at the expense of legitimate tax-paying players.

Despite repeated recognition of its legal validity, the gaming sector continues to be looked down upon with scepticism. This perception is largely built around the belief that it does not create any value for society or the nation. However, a factual analysis indicates the opposite. The gaming sector is a stepping stone for futuristic technologies like Web3, AR, VR and other emerging trends. Which needs to change as many of these emerging technologies are likely to find their first use cases in gaming.

On the exchequer front, the sector employs 50,000 people, of which 30% are programmers and developers. It has grown from being worth Rs 7,037 crore in FY 2019 to Rs 14,300 crore in FY 2022 (projected at Rs 38,097 crore in FY 2026).