Gaming Industry Needs Support For Its Growth And Development As A Revenue Generator

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Exponential growth of the online gaming industry has created enormous opportunities for several stakeholders. These range from countries to companies, gamers, investors and revenue collectors. The gaming industry has spread rapidly in the last few years, thanks in part to the coronavirus induced lockdowns. Inexpensive data charges and penetration of the net facilitated the growth of online gaming platforms like in both casual gaming and real money gaming.

So much so that many Islamic countries where the gambling is prohibited as a religious practice also encouraged the gaming industry. The United Arab Emirates announced recently that it will establish the general commercial gaming regulatory authority. The role of this body will be to design and oversee the legal framework for the national lottery and gaming industry in emirates. Its neighbour Saudi Arabia wants to establish an online gaming industry to promote itself as an investment destination for the same and also as a part of image building.

It is time for the country to look into these playbooks and figure out the best course for the industry. India certainly cannot afford to lag behind these countries. If online gaming companies, which are currently operating within the country, find an environment conducive somewhere else, they won’t think twice before moving out. Already several online gaming companies are investing in countries where the taxes are low on gaming.

However, given the huge base of gamers in the country, the established players like sky exchange online id want to cater to the gamers within the country. Even with a higher taxation burden, the gaming industry in the country will remain relevant for gamers and investors. The established players will survive. The smaller players will get merged with big players and there will be less competition. But the gaming industry will always find a huge gamers base.