Foreign investments

Increased foreign investment in the Indian gaming market.

From: John Braham

There has been an increase in gambling activities in India since 2016. This has resulted in the growth of the gambling industry in India. This growth is the result of many factors including the fact that there are many internet users in India and the widespread adoption of digital payment methods in India. There is speculation that the Indian gaming industry is expected to reach $1 billion by 2021 due to the growth seen so far.

Examples of Foreign Investment in India’s Gambling Markets

Many companies are investing in games in India as the gaming industry is becoming a gold mine. These investors include top companies from around the world. One of them is RockStar Game, a US-based game company. Rockstar recently acquired an Indian video game development company in Bengaluru, Dhruva Interactive in 2019. Another US company, Sequoia Capital, has made various investments with Indian game companies like Octro and Moonfrog La among others.

Investors also include top Chinese companies. Alibaba Groups, a Tech Holdings AG in Hong Kong, partnered with PayTM, an e-commerce and payment company in 2018 to launch a joint venture in 2018 named Gamepind. Gamepind is a platform that hosts popular sports games. Earlier in 2017, another Chinese company, YouZu Interactive, entered the Indian gaming market by partnering with game studios to develop local games.

French game company Ubisoft also has game development studios in India. The first Ubisoft Studio is located in Pune while the other is in Mumbai.

Fantasy sports companies are no exception. About $4 million has been invested by a Singapore-based organization in Indian online fantasy company, Ballebaaz. Dream II also secured a $60 million investment from Steadview Capital. Molale Premier League has seen many investors like Go Venture, Sequoia Capital, Times Internet and many more.

Location is key

While the gaming industry remains booming, game companies and studios are beginning to see the need to make games responsive to local needs. They do this by developing games that show special events that coincide with major Indian festivals like Delhi, Eid al-Fitr, Onam, Pongal, Holi, and many more. They have also created options to play games in Indian dialects such as Telugu, Marathi, Gujarati, Bangla and many more. Popular games like .

Also, Teen Patti, one of the most popular games in India, has seen many foreign companies expand to meet the needs of gamers. You can find many casinos where you can even in Hindi. A very good number of these casinos are controlled by foreign companies but the games are developed by Indians.

New online gambling regulations should be drafted

At a recent hearing, while taking into account the views of all stakeholders. Before that, many stakeholders started deliberating whether online games, especially games of skill, should be properly regulated by law.

This is not the first time that a court has called for regulation of online gambling. And it further indicates the need to consider the pros and cons of online games that are conducted in an unregulated, non-judgmental manner with emotions.

There will surely be many benefits in providing regulations for online gambling. These include tax revenues for state governments, more foreign investment and job opportunities. The introduction of regulation for online gambling could also help India become a global authority in the world of gambling.

Possible adverse effects should also be considered. For example, the possibility of addiction, loss of interest in other productive or social activities, and loss of unnecessary money could be adverse effects of online gambling.

However, if the settlement is done well, it could include time limits and mandatory monetary limits. This will protect vulnerable players like students and minors while ensuring the country receives the benefits of regulation.

According to the Federation of Indian Chambers of Commerce and Industry (FICCI), online gaming in India is expected to grow faster than the global online gaming industry. If this speculation is to materialize, online gambling needs to be legalized quickly. This will even help induce more investment in the gaming markets and hence increase the revenue of the Indian state.

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