NEW DELHI: The government has set up a committee to regulate online gaming and to identify a ministry to oversee it, according to documents HT has examined. The panel will include the chief executive officer of government think tank NITI Aayog and secretaries of the ministries of home, sports and youth affairs, information and broadcasting, electronics and information technology, etc. The committee has been mandated to study global best practices and recommend a regime for a uniform regulatory mechanism. It will take into account ease of doing business as well as compliance, a level playing field, and protection of gamers from user harms such as addiction. The panel will also develop a broad structure of the proposed central laws required, consult experts and submit a report in three months.A group of ministers has found merit in imposing 28 Goods and Services Tax GST on online gaming to bring it at par with levies on casinos, racecourses and gambling. It is, however, yet to formally submit its report to the GST Council, the final decision making bodyGlobal fantasy sports revenues were estimated to be around 20.36 billion in 2020. They are expected to reach 38.60 billion in 2025.
Almost all major sports across the globe have fantasy leagues attached to the dominant leagues.