Skill or chance? The USD7 billion question that can make or break India’s online gaming industry.
Synopsis
Not many businesses in India have been at the centre of controversies like online gaming. From the question of whether a game is skill or chance based to varying interpretation of rules in different states, the online gaming industry is facing several challenges. To unlock the true potential of the segment, a common set of pan-India rules is necessary.
In mid-September, Mobile Premier League (MPL) became India’s second gaming unicorn, raising funds from investors led by Legatum Capital at a valuation of USD2.3 billion. A few weeks later, even as investors were celebrating the phenomenal growth of the three-year-old startup, Karnataka banned the country’s first gaming unicorn, Dream11, for ‘promoting gambling’.Clearly, a cat-and-mouse game is underway in one of India’s fastest-growing
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