Online Gambling

After ED raids, Probo says it is cooperating with law enforcement authorities

ED had earlier conducted search operations at four premises in Gurugram and Jind, linked to Probo and its promoters. It had frozen fixed deposits and shares amounting to Rs 284.5 crore, along with three bank lockers.

Karnataka plans regulatory authority to license real-money gaming, ban online betting

Karnataka’s draft bill seeks to prohibit all forms of online betting, wagering, or gambling involving games of chance. The Congress-led government is likely to introduce it in the upcoming legislature session.

Taming the Wild West of illegal online gambling in India

These betting platforms flout existing regulations, clearly evading direct and indirect tax laws and multiple other applicable laws of the land. Vulnerable users have fallen into the web and are getting trapped in debts

India aims to collect $1.7 billion from online gambling tax in FY25

The government in October imposed a 28% tax on funds that online gaming companies collect from their customers for every bet, shocking a nascent $1.5 billion industry that is backed by global investors. The government had defended the move, citing concerns about addiction.

Madras HC sets aside Tamil Nadu govt's ban on online rummy, poker; firms welcome move

The Madras High Court has restricted Tamil Nadu's online gambling law to only games of chance. The state can however make rules to regulate the time spent or age limits for skill-based games

Nagpur businessman loses Rs 58 crore in online gambling

The accused, identified as Anant alias Sontu Navratan Jain, fled just before police raided his residence in Gondia, located 160 km away from Nagpur.

JP Morgan downgrades Zynga to neutral

JPMorgan Securities downgraded online game company Zynga Inc to 'neutral' from 'overweight'.