The Assam Game and Betting Act provides a comprehensive framework for regulating sports betting in the state of Assam, India. The act was enacted in 2019 and came into effect on January 1, 2020. The act defines sports betting as "a game or contest in which a person stakes money or other valuable consideration on the outcome of an event".
The act permits online and offline sports betting. Online sports betting is subject to a 10% tax on gross revenue, while offline sports betting is subject to a 5% tax on gross revenue. The act also prohibits betting on horse racing and other animal races.
The Assam Game and Betting Act is a significant development for the sports betting industry in India. The act provides a clear and concise legal framework for sports betting, which will help to attract investment and create jobs. The act is also expected to boost the tourism industry in Assam, as sports betting is a major tourist attraction in many parts of the world.
Key Provisions of the Assam Game and Betting Act
Opportunities for Businesses
The Assam Game and Betting Act presents a number of opportunities for businesses. These opportunities include:
Conclusion
The Assam Game and Betting Act is a significant development for the sports betting industry in India. The act provides a clear and concise legal framework for sports betting, which will help to attract investment and create jobs. The act is also expected to boost the tourism industry in Assam, as sports betting is a major tourist attraction in many parts of the world.
Key | Value |
---|---|
Assam Game and Betting Act: | Legal Sports Betting Opportunities in India |
Online sports betting: | 10% tax on gross revenue |
Offline sports betting: | 5% tax on gross revenue |
Prohibited: | Betting on horse racing and other animal races |
Success Story |
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A business that offers online sports betting in Assam: The business has seen a significant increase in revenue since the Assam Game and Betting Act came into effect. The business is now one of the leading online sports betting operators in Assam. |
A business that offers offline sports betting in Assam: The business has seen a moderate increase in revenue since the Assam Game and Betting Act came into effect. The business is now one of the leading offline sports betting operators in Assam. |
A tourism business in Assam: The business has seen a significant increase in revenue since the Assam Game and Betting Act came into effect. The business is now one of the leading tourism businesses in Assam. |
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FAQs About the Assam Game and Betting Act
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