Online gaming platforms are not allowed to deduct tax at source on withdrawals made by players, as long as the withdrawal amounts are less than Rs.100 per month and meet certain criteria, according to the Central Board of Direct Taxes (CBDT) said in a set of guidelines issued on Monday.
According ... Read More
23
May2023
23
May2023
PokerStars India, a country-specific subsidiary of the world-renowned poker giant, achieved a milestone of five years of operation in April. During this time, the company has successfully built a loyal fan base among tournament and cash-game players through a variety of attractive promotional initiatives.
PokerStars India offers ₹2.5 crores worth of ... Read More
22
May2023
India's gaming scene is catching the world by storm, and this digital revolution is unstoppable.
First and foremost, India's esports industry is exploding, with revenues predicted to reach $40 million in 2022 and $140 million by 2027. That's a staggering 32% CAGR, women gamers outnumber males by 11.2 hours per ... Read More
17
May2023
According to a recent report, the Indian Premier League (IPL) is one of the world's largest sporting events, and its economy is predicted to rise significantly this year.
As per the “IPL analysis, 2023” analysis from consultancy firm Redseer, gross gaming revenue from fantasy sports during the IPL is also predicted ... Read More
17
May2023
MPL has officially unveiled its mobile application in Nigeria, its first entry into the continent of Africa. This expansion brings the total number of MPL locations to four continents: Asia, North America, Europe, and Africa.
The MPL application provides a platform for gamers, both in Nigeria and abroad, to monetise their ... Read More
17
May2023
Nazara Technologies, a diversified gaming and esports company, has joined the AIGF (All India Gaming Federation) as a principal member in the skill gaming industry, showing the growing ambition of the company in the fast-growing pay-to-play space.
Nitish Mittersain, founder of Nazara Technologies, will join the executive committee of AIGF, while ... Read More
15
May2023
Vivson Games Pvt. Ltd., a leading online gaming company, was felicitated as the “Top Emerging Brand of Online Gaming” at the prestigious Global Excellence Awards 2023. The award recognizes the company’s efforts and contributions in the field of online gaming as well as its commitment to excellence and innovation. The ... Read More
15
May2023
The Karnataka High Court, on May 11 held that a game of skill, whether played with stakes or not, was not gambling.
The main question or issue that arose for consideration in a batch of petitions was whether offline or online games like Rummy, which were primarily, predominantly, or substantially based ... Read More
15
May2023
Societe Generale (SocGen), a France-based investment company, has acquired 5.9 lakh shares in online skill gaming and tech firm Nazara Tech for Rs 33.83 crore, which roughly amounts to a 0.9% stake in the company.
The acquisition was done through bulk deals on Friday along with a few other firms on ... Read More
12
May2023
According to the latest report by MoEngage, in collaboration with AppsFlyer and AppsTweak, mobile gaming in India is expected to reach $8.6 billion by the end of 2027, owing to increased smartphone penetration, the availability of smartphones at a reasonable price, and the availability of more affordable data plans.
The paper, ... Read More