Online Casino Market is huge in India

And it's only going to get better from here…

In this case study, I am going to be talking about how we helped a client in the Online Casino Space.

Now this is a space that's HEAVILY REGULATED.

So legal help is required.

In this case, our Client wanted to dive into the entrepreneur space.

And they were eyeing different sectors - specifically on the gambling side.

Running a physical casino was difficult, so they opted for online casinos, which had their own share of legal challenges.

That's where they needed our help!

Problems:

1) Understanding Legal Challenges:

He wanted to know what legal challenges are involved in establishing an online casino business.

2) Lawful Operating Practices:

He wanted to know the practices that the law mandates for companies operating.

3) Taxation and Future Prospects:

He wanted to know if the current landscape, including ongoing tax disputes, allows a flourishing future for this industry.

Solutions:

1) Mapping the Legal Landscape:

We provided an outline of the applicable legal landscape for the online casino and gaming industry.

Basically, the focus was on advising on different categories in the online gaming industry in India.

We differentiated between online gaming and online gambling - Game of Chance V. Game of Skill.

We also provided an outlook on different state regulations applicable to gambling, and in some cases, online gaming such as fantasy sports.

And lastly, advised on the requirements for a license for operating online gambling in certain states.

2) Compliance Essentials:

We advised him on the latest IT Rules applicable to the online gaming industry, and the applicability of “IT (Intermediaries) Rules”

We also guided him through the additional set of compliances applicable to them as Intermediaries operating “Online Real Money Games”.

For example, having a physical office in India, certification from Self-Regulatory Body, Privacy Policy, and Terms and Conditions.

3) Taxation and Funding Insights:

We informed him about India's current taxation policy, clarifying that GST applies upon deposit, not on each bet.

Also, advised on the possibility of seeking foreign funding in this space.

Basically, foreign direct investment is prohibited in the gambling/betting space in India.

With this, the person was equipped with the knowledge of the next steps they had to take.

They knew the risks and challenges of the space.

But also the possibilities of targeting a profitable market.

Gambling is a challenging space in the end.

But it's definitely profitable.

Remember, foreign direct investment is not allowed in India when it comes to Gambling.

See you on Wednesday!

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