Summary
Not many businesses in India have been at the center of controversies like online gaming. From the question of whether the game is skill or chance based on different interpretations of the rules in different states, the online gaming industry is facing a number of challenges. To unlock the true potential of the segment, a common set of all India rules is necessary.
In mid-September, Mobile Premier League (MPL) became India’s second gaming unicorn to raise funds at a valuation of USD 2.3 billion from investors led by Legatum Capital. A few weeks later, 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 going on in one of India’s fastest growing
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