A division bench of the Supreme Court has dismissed GST evasion and gambling appeals filed against fantasy sports operator, Dream 11 – upholding a previous ruling from the Bombay High Court. The appeals were filed by lawyer Gurdeep Singh Sachar, Department of Revenue, Union of India and State of Maharashtra, who claimed in June this […]
South African internet conglomerate Naspers is looking to buy a $100 million stake in online fantasy start-up Dream 11, local media reports. Following bumper earnings from the Cricket World Cup and Indian Premier League, Dream11 is now seeking a valuation of $2.5 billion, which would make it one of the biggest online gaming companies worldwide. […]
The Bombay High Court has backed Dream 11 in arguing that fantasy sports are a game of skill and therefore not gambling, dismissing a public interest litigation attempt brought by an anti gambling activist.
India’s booming online gaming market is attracting a flood of investment from mainland China as Beijing steps up efforts to regulate video games at home.
When India played its old foe Pakistan in a World Cup cricket game in 2015, a staggering 1 billion people were estimated to have tuned in to watch, while the average viewership for its national side in a big game is about 400 million. The figures clearly illustrate the potential of the fantasy cricket market in India, while a recent regulatory breakthrough may have set a legal precedent giving a further boost to the market. The state of Nagaland recently issued its first skill-based licenses for online poker.