The Telangana government is dealing with a bunch of new guidelines for online and fantasy gaming which will support self-regulation and development of the online gaming sector in the state, a senior state government official said on Wednesday.

Jayesh Ranjan, head secretary of the Industries and Commerce (I&C) and Information Technology (IT), Government of Telangana admitted that there are regulatory issues in fantasy sports. He was tending to the fourth version of fantasy gaming occasion – GamePlan 2021 organized by the self-regulatory industry body Federation of Indian Fantasy Sports (FIFS).

“I realize that there are court decisions, there are various orders, and the situation is a bit muddied and complicated now. I admit that there has been a resistance in Telangana in the past about certain types of games, especially games of skill, fantasy sports, and more that must be empowered,” he said.

Telangana was the principal state to boycott online and fantasy gaming asserting that it resorts to gambling.

Ranjan informed that there is a draft regulation that has been arranged which is to be presented in the state. “I have assumed the liability to present an exceptionally basic and industry-friendly piece of regulation instead of what as of now exists. I have consulted every individual who is associated with this domain, including delegates from the FIFS,” he said.

“I can guarantee you that we will see a piece of regulation where self-regulation, as well as development, will be empowered. We need to stay patient with what comes up from Telangana. I’m exceptionally certain that this will be some sort of a good example for any remaining states likewise,” he further added.

There have been numerous court decisions that have offered authenticity to online gaming designs including fantasy sports, however, in specific states, for example, Telangana, Assam, Tamil Nadu, Odisha, Andhra Pradesh, Sikkim, and Nagaland such online formats are not permitted if they include any cash.

In his address at the occasion, retired IAS official and Financial Services Regulatory Authority (FSRA) chairman Bimal Jhulka said that fantasy sports are a dawn area in India and it has effectively surpassed the United States (US) with 12 crores users and contributed ₹3,000 crores to the exchequer.

He said that the fantasy sports sector can contribute ₹13,500 crores to the exchequer through taxes, make 12,000 extra jobs and draw ₹10,000 crores in foreign direct investments.

Credits: LiveMint