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Gambling Industry
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Topic starter
04/11/2023 7:45 am
With a 19% rise in income from FY22 to FY23, the Indian gaming business is booming. In FY23, the sector brought in $3.1 billion. This increase in earnings occurs even though the real-money gaming industry has been hit hard by recent shifts in taxation legislation. Stakeholders in the business are worried about the possibility of retrospective taxes owing to implementing a Goods and Services Tax (GST) regime at 28%.
The newest report from India's first gaming and interactive media-oriented venture fund, Lumikai, includes an updated revenue prediction for the gaming sector. The research predicts that the Indian gaming industry will bring in $7.5 billion in revenue in FY28, down from the $8.6 billion predicted for FY27. The analysis shows that the Indian gambling business is resilient and has great potential, despite the lowered prediction.
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05/11/2023 2:05 am
Lower than estimated but its still a $7 Billion Dollar Industry. Other fields would struggle to make that in a year.
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Topic starter
03/08/2024 5:58 pm
Quick gambling growth in a nation with deep-seated social and economic problems has left the government and the people with many issues to overcome. An estimated 7.4 percent of Indian gamers suffer from compulsive gambling, according to studies. There are indications of addiction in 0.6% to 1% of these people.
Government interference is among the main factors limiting the sector's expansion. In response to the adverse societal effects and growing anxiety over internet gambling, some states have passed legislation to restrict access to the industry.
I wish someday there will be land-based Casinos in Georgia. Maybe someday it will come true.
