The recent Indian Premier League (IPL) season saw record-breaking viewership numbers, with millions tuning in to watch matches on TV and streaming platforms. However, besides the on-field action, there is another game at play – online betting and gaming. The popularity of the IPL has led to a surge in revenue for fantasy gaming companies, with celebrities like Ravi Shastri, Dale Steyn, Shikhar Dhawan, and Emraan Hashmi promoting illegal betting sites. This blurring of lines between legitimate gaming and illegal betting poses a threat to consumer interests and the economy, with an estimated loss of potential tax revenue exceeding $24 billion annually.
To tackle this issue, the government has taken steps to crack down on online betting and gambling sites, issuing blocking directions against such platforms. In a bid to regulate the online gaming industry, the Advertising Standards Council of India (ASCI) has signed an MoU with key gaming bodies to ensure transparency and protect consumers. Legitimate gaming companies play a crucial role in supporting sports events like the IPL through sponsorships and financial contributions, enhancing the fan experience and contributing to the sports economy.
Despite its challenges, the symbiotic relationship between gaming and cricket continues to thrive, with the IPL fueling the growth of the online gaming industry and engaging millions of Indian fans. By fostering a regulated and transparent environment, both industries can coexist harmoniously, benefiting not only the stakeholders but also the broader economy.
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