138 Betting Apps Banned in India: A Comprehensive Guide for Businesses

What is 138 Betting Apps Banned in India?

On September 2, 2022, the Ministry of Electronics and Information Technology (MeiTY) in India issued an order blocking 138 betting apps and 94 loan lending apps. This move was aimed at combating illegal betting and loan sharking activities that were rampant on these platforms.

Why 138 Betting Apps Banned in India Matters

The ban on 138 betting apps in India is a significant development in the country's efforts to regulate online gambling and protect consumers from financial harm. According to a study by the National Council of Applied Economic Research (NCAER), the online gambling market in India was worth around $1.9 billion in 2021 and is projected to grow to $6.2 billion by 2025. However, the lack of regulation has led to concerns about illegal activities, including money laundering, match-fixing, and tax evasion.

Key Benefits of 138 Betting Apps Banned in India

The ban on 138 betting apps in India is expected to have several benefits, including:

• Reduced illegal betting and gambling
• Protection of consumers from financial harm
• Prevention of money laundering and match-fixing
• Increased tax revenue from legitimate gambling operators

Effective Strategies, Tips, and Tricks

Businesses that offer online gambling services in India should consider the following strategies to comply with the ban on 138 betting apps:

• Obtain a license from a recognized gaming commission
• Implement strong KYC (Know Your Customer) and AML (Anti-Money Laundering) measures
• Ensure that games are fair and transparent
• Provide customer support in local languages
• Partner with reputable payment providers

Common Mistakes to Avoid

Businesses should avoid the following mistakes when offering online gambling services in India:

• Operating without a license
• Offering games that are not fair or transparent
• Failing to implement KYC and AML measures
• Targeting minors
• Engaging in false advertising or promotions

Advanced Features

Businesses that offer online gambling services in India can consider implementing the following advanced features to enhance their offering:

• Live streaming of events
• In-play betting
• Mobile optimization
• Virtual reality and augmented reality experiences
• Gamification

Success Stories

Several businesses have successfully navigated the regulatory landscape in India and offer legal and responsible online gambling services:

• Dream11: A fantasy sports platform with over 100 million users
• MPL: A skill gaming platform offering a variety of games
• RummyCircle: An online rummy platform with over 50 million users

Conclusion

The ban on 138 betting apps in India is a major step towards regulating the online gambling industry in the country. Businesses that comply with the ban and offer legal and responsible gambling services will be well-positioned to thrive in this growing market.