Keywords
Fantasy gaming; India; games of skill; self-regulation; sports leagues; regulatory framework
Disciplines
Gaming and Casino Operations Management | Gaming Law
Document Type
Original Review Article (Essays, Opinion Pieces, and/or Book Reviews)
Abstract
The fantasy gaming industry in India has moved forward at an unprecedented pace with limited oversight primarily based on 'self-regulation'. The absence of a clear regulatory mechanism for this industry has been highlighted in previous work, but no clear determination has been provided on how to deal with this issue. The current contribution seeks to provide a path ahead by suggesting that the government regulate the industry directly instead of an industry-operated self-regulatory framework which has had limited effectiveness till now. This suggestion has been made considering the significant size of the industry and the target demographic of the fantasy gaming sector, which consists of young individuals who may need considerable handholding in terms of financial prudence and gaming addiction. Data regarding the industry, demographics of the financial gaming sector and the current state of regulation has been obtained from secondary sources. This has been supplemented with judicial decisions, and government reports to identify critical problems and suggest potential solutions. The contribution makes a comparative analysis of Union (federal), state and self-regulation for the fantasy gaming industry in India to prescribe a regulatory path ahead. Considering the potential for growth of the fantasy gaming industry in India and the size of the market, regulatory developments in the country may be of interest globally to investors, fantasy gaming operators, researchers, and other governments willing to learn from the Indian efforts at regulation.
Funding Sources
No funding
Competing Interests
None