Responsible gaming and shared responsibility: Online gaming industry in India challenges

The online gaming industry in India has seen remarkable growth in recent years, having clocked a CAGR of 28% to a value of over Rs 16,000 crore in FY23. It is expected to cross Rs 33,000 by FY28, with a CAGR of 15%. The industry has been a major contributor to job creation, technological innovation, and foreign investments, having attracted close to Rs 23,000 crore in funding over the last five years.

Despite the huge potential the industry offers, some concerns around the prospect of illegal offshore betting operators masquerading as legitimate online games and the potential for money laundering in the sector have come to the fore.