Why Online Fantasy Sports badly needs a clear, singular policy
The $4.5 billion Indian online fantasy sports market is once again experiencing instability. The robust run rate of the industry is being threatened by tax problems, underscoring the need for a national strategy that can provide stability. Conrad Sangma, the chief minister of Meghalaya, led an empowered group of ministers (GoM) that unanimously proposed a flat-rate Goods and Services Tax (GST) of 28 percent on internet gambling, casinos, and horse racing on May 18.
This effectively means that the GST rate on online fantasy sports, a significant segment of the online gaming market, will not only increase significantly from the current 18 percent but will also be applied to all online games without distinction, including those that involve betting and gambling or games of chance. This is by no means good news for an industry that has been fighting for a distinct line to separate games of skill from games of chance.
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