On September 2, 2022, the Ministry of Electronics and Information Technology (MeiTY) in India issued an order blocking 138 betting apps and 94 loan lending apps. This move was aimed at combating illegal betting and loan sharking activities that were rampant on these platforms.
The ban on 138 betting apps in India is a significant development in the country's efforts to regulate online gambling and protect consumers from financial harm. According to a study by the National Council of Applied Economic Research (NCAER), the online gambling market in India was worth around $1.9 billion in 2021 and is projected to grow to $6.2 billion by 2025. However, the lack of regulation has led to concerns about illegal activities, including money laundering, match-fixing, and tax evasion.
The ban on 138 betting apps in India is expected to have several benefits, including:
Businesses that offer online gambling services in India should consider the following strategies to comply with the ban on 138 betting apps:
Businesses should avoid the following mistakes when offering online gambling services in India:
Businesses that offer online gambling services in India can consider implementing the following advanced features to enhance their offering:
Several businesses have successfully navigated the regulatory landscape in India and offer legal and responsible online gambling services:
The ban on 138 betting apps in India is a major step towards regulating the online gambling industry in the country. Businesses that comply with the ban and offer legal and responsible gambling services will be well-positioned to thrive in this growing market.
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