With fantastic online gaming platforms increasingly in demand due to bans by various state governments, the (central) government of India seems to be stepping in to clear up the confusion. Niti Aayog, the Indian government's policy think tank, has recommended the establishment of a single self-regulatory body for online fantasy sports in India. In a draft report titled "Guiding Principles for Nationwide Uniform Regulation of Online Fantasy Sports Platforms in India," Niti Aayog said the new regulator should be approved by the government. The draft report is being seen as a shot in the arm for fantastic online sports platforms now facing the heat in multiple states. In India, online gambling is a matter of state, and what is legal in one part of the country may not be in another. The draft report seems to suggest uniformity in terms of operating standards.
What does the draft report say about great online games?
The draft report states that the supervisory board should be responsible for implementing uniform rules and advice and for fantasy sports platforms (OFSPs) to adhere to them. "NITI Aayog initiated this discussion to examine the structure of the fantasy sports industry and consider evolving guiding principles that can help the industry grow by adhering to consistent guidelines based on well-recognized principles." indicates the report. "All FOPHs who are members of the self-regulatory organization should benefit from the safe harbor exemption, subject to their compliance with established standards and procedures," she added. Inconsistent rules in various states across the country "may even deprive sports fans in some states of their right to actively participate in these OFSPs," the draft report says. “Formal recognition of the fantasy sports industry and establishment of principled governance would allow FOPH operators in India to focus on innovation, achieve scale and expand their operations. in a clear and principled regulatory environment,” the report adds.
Niti Aayog also called on fantasy sports providers to adhere to the standards prescribed by the Advertising Standards Council of India (ASCI) and be fair and truthful in presenting gambling only as a means of entertainment and not as a source. subsistence or subsistence. While online fantasy sports in India have attracted more than Rs 1500 crore in investment from foreign investors in recent years. Fantasy league games have mushroomed in recent times thanks to the IPL and cricket fever. The recently concluded IPL title sponsor was itself a fantastic league platform. India's online gambling industry is expected to grow to be a billion dollar industry by 2021. According to a recent study (conducted by the Indian Federation of Fantasy Sports (FIFS) in collaboration with KPMG), today today there are around 100 million fantasy sports users in India. India's online fantasy sports (OFS) industry has been growing rapidly, recording a CAGR of 212% in user base between 2016-19. Approximately 74% of users play fantasy leagues one to three times a week. According to the report, almost 20% of active users on OFS platforms are paid users, while 30-40% of users play OFS on multiple platforms. Gross revenue for operators in the online fantasy business stood at over Rs 2.400 crore in FY20, compared to Rs 920 crore in FY2019. The sector also saw a 160% increase in revenue, from CR 920 INR in FY19 to Rs 2.400 crore in FY20. Since India is a mobile friendly country, more than 90% of online gamers play games on their phones. In 2019, around 5.600 billion mobile game apps were downloaded in India, the highest in the world and accounts for almost 13% of the game apps globally. Despite all this, the legality of fantasy sports in India depends on whether the game qualifies as a "game of skill" or a "game of chance." Gambling is part of gambling and therefore limited by state gambling laws. However, games that involve a considerable and substantial degree of skill (mathematically, more than 50%) do not fall within the scope of gambling laws and are therefore legal in India. Niti Aayog's draft of the document hopes to resolve the ambiguity of the laws in the states. Via: Niti Aayog