However, the online gaming industry and casinos predicted a revision of the 28% GST rate but did not discuss it on that date. She announced many agendas, and legal advisory still remained due to lack of time. Also, she told reporters that the next meeting will be on a post-budget. 

The union finance ministers are also expected to seek input from state finance ministers on issues such as fertilizer tax exemption, pre-deposit of appeal under the GST tribunal, and others. However, she said there will be another meeting, hopefully in mid- or end-August.  

What Is The Rule Of GST On Real Money Gaming? 

The GST meeting last year implemented 28% on online real-money gaming and casinos, which is equal to the wager amount. However, this decision faced strong criticism from stakeholders in the gaming industry, including investors, developers, and gaming representatives. 

The communication was in writing, and they requested reconsideration of the tax rate’s implementation. They explained that the 50th GST council meeting, held on 11 July 2023, implemented the 28% GST on the online gaming industry, which came into force by October 1. 

With the new guidelines, a flat 28% GST is levied on the total value of bets placed on online games and casinos. The values are said to be applied to games of skill or chance. According to previous data, a total of 18% GST was levied on the specific amount that the platforms charged for skill-based games. 

Several online gaming startups implemented a new tax structure. These include Gameskraft and Dela Corp, where notices regarding tax payments were made in the amount of Rs. 1.12 lakh crore in GST. 

Hopefully, the next meeting will feature a discussion on the provisions of GST law that may require any amendments, and the next can be passed along with the Finance Act. Also, big ban reforms may be taken later, and GST demands on Retrospective claims may be discussed for better GST compliance.

• Keep following TheGamingNewz for the latest game news!
• Instagram: https://www.instagram.com/thegamingnewz_official
• Facebook: https://www.facebook.com/thegamingnewzfb
• X: https://twitter.com/thegaming_newz
• LinkedIn: https://www.linkedin.com/company/the-gaming-newz

The post GST Council Meeting Concludes With No Relief For Online Gaming Industry first appeared on The Gaming Newz.

Recently, a serviceman named Petrechenko filed a petition, pointing out the dangers of troops. He mentioned in that petition that troops are spending long hours and a significant amount of their wages on gambling platforms on their mobile phones. This petition was filed in March 2024, and it received around 25,000 signatures. It mainly cited the risks of Russians using ads to get military personnel’s personal information.

Unfortunately, Petrychenko died on the frontline on 15th April and was buried last week in Kyiv. in late March, Ukrainian MP Aleksey Goncharenko mentioned that nine out of ten military professionals have issues related to online betting and gambling. He also mentioned that it’s a grave issue destroying the Military’s morale.

Newly Developed Measures By Ukraine

The freshly developed measures from the Ukrainian National Defense and Security Council, SNBO, include banning multiple accounts and limiting time and money spent on these sites. A new monitoring system has been introduced to block all illegal activities and access to personal information.

Ukraine cabinet plans to restrict advertising and ask Apple Inc. and Alphabet Inc.’s Google to block gambling sites on their stores without any appropriate licenses, reported Bloomberg.

The government is planning to elaborate on the restrictions for all kinds of gambling advertising. Moreover, the National Bank of Ukraine will make recommendations to all the banks for blocking online payments.

Ukrainian forces are tackling morale issues related to shortages of ammunition and manpower as the momentum of the war. Kremlin forces are also changing positions in Ukraine’s east and preparing for potentially broader offensive tactics.

Keep following TheGamingNewz for the latest updates and news from the gaming arena.

The post Ukraine’s President Zelensky Takes Action to Combat Gambling in Military Ranks. first appeared on The Gaming Newz.

The Enforcement Directorate (ED) has summoned big Bollywood actors such as Ranbir Kapoor, Shraddha Kapoor, Kapil Sharma, Sunny Leone, and Huma Quersi regarding their connection with the Mahadev Online Book app. As the actors promoted the Mahadev Online Book app.

FairPlay came under the radar of ED after Viacom18 filed an FIR against FairPlay for live broadcasting IPL 2023. In the complaint, Viacom18 stated that they owned the exclusive streaming rights of IPL 2023, despite this the betting app FairPlay allegedly displayed hoarding across Mumbai on broadcasting IPL. 

According to the report of Free Press Journal after the F. I.R of Viacom18, ED started an investigation on the app. They are now examining the contracts with Bollywood celebrities for FairPlay promotion and endorsement, payment modes, transactions, hawala, and company-related details involving several Bollywood actors.

ED will soon summon Bollywood actors who promoted FairPlay during IPL 2023, actors such as Jacqueline Fernandez, Sanjay Dutt, Tamanna Bhatia, and the singer Badshah are on the list of ED. 

As per the investigation, FairPlay promoters are linked with the Mahadev betting app. They allegedly used funds from various shell companies to pay Bollywood celebrities. The Maharashtra Cyber Cell already recorded statements from Badsha, the manager of Sanjay Dutt and Jacqueline. The Maharashtra Cyber Cell later shared the statements with ED.

Actors Received Whooping Sums From Shell Companies 

Sanjay Dutt received a whopping sum of 25 Lakhs from a Singapore-based gaming company “Play Venture.” The payment was for promoting and endorsing the FairPlay app. 

Sanjay Dutt’s manager revealed that producer Bunty Walia approached him for Sanjay Dutt promoting the FairPlay betting app. After the statement, Cyber Cell recorded the statement of the producer. 

Jacqueline Fernandez received a huge amount of money from a Dubai-based company Trim General Trading LLC for promoting FairPlay. The company is involved in the Import-export business, so it was very shady for them to pay celebrities. Cyber Cell suspects that Trim General Trading LLC is involved in Money Laundering activities related to FairPlay. 

Badshah also received money from an Australian-based company Lyukos Group FZF. The agency recorded Badshah’s statements, where he showed them transaction details and contracts. During the investigation, ED finds out that this company is based in Dubai, and the Australian company is a shell. 

Other celebrities like Tamanna Bhatia, and Amarya Dastur provided the contract agreement to the Cyber Cell. 

In a supplementary chargesheet filed by ED, the ED alleged that Mahadev Book App and its subsidiary apps FairPlay, Reddy Annam, Lotus 365, and many more have an earning of Rs 450 crore. 

Keep following TheGamingNewz for the latest updates and news about gaming industry!

The post ED to investigate Bollywood Celebrities, Who promoted the betting app FairPlay first appeared on The Gaming Newz.

Brazil is the seventh-largest country by population. Their gaming regulations are strict for teenagers, especially under the age of 18 teenagers. Under the Brazilian civil code, bets are classified as contracts restricting legal gambling activities to individuals under the age of 18. Brazilian child and Adolescent protection act prohibits children and teenagers from entering venues where bets are made. 

1 – Unique Legal Regulation for Poker, Social gaming, and Skill Based Game

In Brazil, private entities can operate Poker, Skill games, and social gaming without needing formal licensing. This provides flexibility to recreational gambling outside of state-owned lotteries. 

Through the regulations, private businesses have the freedom to organize and conduct Poker games, skill-based gaming events without worrying about licensing.

2 – Horse-race wagering Regulation

Unlike Poker and social gaming, Brazil has different regulations for Horse-race wagering. In Brazil, horse race wagering is limited to non-profit organizations with authorized race tracks for racing. These entities have the leverage of hiring private suppliers and agents without the need for specific licensing or regulatory oversight. 

3 – Lotteries Monopoly of Government 

In Brazil, Lotteries are exclusively owned by states. The government takes control of Lotteries through Caixa, a state-owned financial services company. Caixa gained control over the federal lottery in 1961, which resulted in the cancellation of all private lottery licenses. Lottery entities existing before 1967 are allowed to operate independently. SECAP, an entity under the Ministry of Economy, regulates lottery activities in the country. 

While over 13,000 lottery points of sale are privately operated with the permission of Caixa, these operators must obey the rules set by the secretariat. Additionally, these private operators are not allowed to create new gaming products, they can only distribute and sell existing lottery points. 

Furthermore, Brazil has introduced the Fixed-odds betting lottery law different from the traditional lotteries. 

4 – Lotteries Venturing into New Products 

In 1993, several Brazilian provinces took steps to diversify their gaming offerings by introducing new gaming products such as slot machines, bingo venues, and online gaming. 

However, in 2007, the Supreme Court of Brazil ruled that municipal legislation regarding gambling was unconstitutional.

5 – Legal loophole in Gambling Regulation

Foreign gambling companies find a legal loophole in Brazilian gambling regulations, which enables them to offer gambling products in Brazil. In the loophole, if the company’s website is hosted in a jurisdiction that authorizes gambling, then the companies won’t face any legal action from the government. The Brazilian government hasn’t taken any action against the Foreign companies.

Keep following TheGamingNewz for the latest news on the gaming laws across various countries in the world.

The post An Overview Of Brazil’s Gaming Regulations first appeared on The Gaming Newz.

The meeting was advocated by the additional general inspector of police and head of the Criminal Investigation Department (CID), Mohammad Ali Miah. This high-level meeting also included ministers and senior officials from various ministers. The whole gathering focused on the legislative push to tackle the growing challenges caused by online gambling by updating their current law.

Tackling The Loopholes In The Public Gambling Act Of 1867

In this digital age, traditional gambling activities have transitioned to online platforms, which makes them difficult to track. Due to such digitalization, these platforms have run their propaganda on social media platforms, which has a detrimental impact on individuals, various institutions, and the nation as a whole. In this regard, Bangladesh’s Telecommunication and Information Technology minister, Zunaid Ahmed Palak, urged the authorities to implement stringent measures to eliminate online gambling apps.

The sad reality is that the existing law does not have enough provisions to tackle this digital shift. Therefore, police officials put forth a comprehensive set of demands to empower the operational efficiency of the force. These demands include the upgrade of the police training institute, improvement in the living conditions of senior officers, and adjustment of spending limits for the Inspector General of Police (IGP).

At the administrative level, the Bangladesh police also urged for the inclusion of the police chief as a member of the technocrat of the Superior Selection Board. All these reforms are initiated to streamline the officers’ promotion to empower law enforcement agencies.

According to the higher officials of the Bangladesh police department, the amendment in The Public Gambling Act 1867 will empower law enforcement agencies. The initiatives will help tackle the emerging cyber threats in the online gambling industry. Additionally, the amendment will enhance the police’s ability and ensure the safety and security of the public.

Keep following The Gaming Newz for the latest updates and news from the gaming world!

The post Bangladesh Police Urged Amendment To The Public Gambling Act Of 1867 first appeared on The Gaming Newz.

A recent example is Mumbai Indians, a highly successful IPL team, which featured a surrogate betting brand, 1xBAT, in a full-page advertisement. The ad was published in the Times of India on 19th February to celebrate MI Emirates’ win in the ILT20 championship, in which 1xBAT was shown as a principal partner of MI.

Unfortunately, this trend is not limited to cricket only but also other sports leagues such as the Premier Volleyball League, Indian Super League, Pro-Kabaddi League, and Ultimate Tennis League. Surrogate brand Dafa News is connected with Prime Volleyball League (as an associate sponsor), and PariMatch News is advertised by FC Goa (as the principal sponsor),

Eight out of twelve teams in the ISL and ten out of twelve teams in the Pro-Kabaddi League are promoting surrogate betting brands like MelBet, Stake News, and 1xBAT. Interestingly, Dafanews and Parimatch Sports sponsored a domestic T20 cricket tournament in Karnataka last year. This involvement is a serious concern about the influence of these platforms in sports events.

What’s surprising is that these surrogate betting brands are promoted alongside reputed sponsors like Indian Oil and State Bank Of India. Also, they get a platform to attract audiences with other brands like PayTm, Kingfisher, and Bisleri. The strategy of these illegal betting portals is to appear legitimately by featuring alongside reputed Indian brands and to create trust among the audiences.

The government of India had advised advertising agencies in 2022 not to allow surrogate betting brands to attract Indian audiences. However, it is unfortunate that some reputable Indian brands contribute to the promotion of betting by featuring alongside these surrogate betting brands. 

Also, India’s leading media houses continue to accept advertisements from offshore betting companies despite being aware of the government’s guidelines against such promotions. This raises questions as to why reputable brands and leading media houses are compromising their ethical standards.

Keep following The Gaming Newz for the latest news from the gaming world!

The post Government Warnings Ignored: Surrogate Betting Brands Still Dominate Sponsorship In Indian Sports Leagues first appeared on The Gaming Newz.