The online real money gaming industry has been in a state of turmoil with the recent changes recommended by the Goods and Services Tax (GST) Council recommending 28% GST on every deposit, that has been implemented by the central government from 1st October, 2023, despite fervent pleas by the industry to defer or reconsider the […]
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Fantasy sports platform Dream11 recently acquired Sixer, a fantasy stock trading platform founded back in 2018. The game uses players as stock and their performance as a determiner of their price. Thus, the players have to predict and build a team accordingly. The operator of Sixer, Oyster Soft India, has entered a business transfer agreement […]
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Gaming News
ED to interrogate Ranbir Kapoor, summon celebs for attending Mahadev Book owner’s wedding
Mahadev Book is undoubtedly the biggest illegal betting network in India with numerous platforms under its belt. Despite multiple arrest of Mahadev Book operatives in Chhattisgarh and some other states, the illegitimate operations remained active. This prompted the Enforcement Directorate (ED) to take over and further escalate the investigation. Later, ED arrested a few small […]
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Social gaming company WinZO Games is set to launch its platform in Brazil with an investment of $25 million as part of the company’s global expansion plans. Talking about the move, co-founder of WinZO Games, Saumya Singh Rathore, said, “Brazil is a very interesting market. Almost 98% of the local population actually consumes in Portuguese. […]
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In its latest move to boost international presence, gaming and esports media firm Nodwin Gaming’s Singapore division has acquired a 100% stake in game marketing agency Publishme from parent company Nazara Technologies and co-founder Ozgur Ozalp. The revelation was done via a recent stock market filing, indicating that Nodwin Gaming’s Singapore subsidiary is acquiring 82.81 […]
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The industry body for fantasy sports, Federation of Indian Fantasy Sports (FIFS), has requested the government not to impose 28% GST on the online gaming industry with retrospective effect as it is driving away potential investors. While the companies have accepted the 28% GST rate on full face value on initial deposits the bone of […]
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Gaming News
Karnataka GST authorities write to 161 online gaming firms asking them to comply with new rate
Within a week of notifying an ordinance to implement 28% GST on online gaming, casinos, horse racing, Karnataka GST authorities have written to 161 online gaming firms asking them to comply with the new GST policy and file returns accordingly. “We have done this to be doubly sure that they collect taxes as per the […]
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Gaming News
Australia: AUSTRAC restricts online sports betting firms to take wagers from unverified users
The Australian Transaction Reports and Analysis Centre (AUSTRAC) has now restricted online sports betting firms from taking wagers from unverified users. The decision has been taken under the latest drive to enhance anti-money laundering (AML) measures. As per the new rules, betting operators will now require pre-verification of all online gamblers. Non-complying customers will be […]
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The Enforcement Directorate (ED) has summoned Bollywood actor Ranbir Kapoor for promoting an illegal betting app. The app in question is Fairplay, which is one of the apps under Mahadev Book’s international betting network. Mahadev Book is considered as the biggest illegal betting network in India. The ED has been investigating the case since a […]
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Gaming News
Nagpur: Police make Sontu Jain’s brother co-accused in Rs 58 crore illegal betting app fraud case
Nagpur police have claimed involvement of illegal online betting operator Sontu Jain’s elder brother Dheeraj in the recent Rs 58 crore fraud case. Sontu, who is currently on the run from police, allegedly worked with Dheeraj who used to launder money on his behalf. The latter has been made co-accused in the case now. Dheeraj […]
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