These brands, which had a substantial presence in the Indian betting industry, opted to discontinue their services due to the imposition of a 28% Goods and Services Tax (GST) on offshore gambling companies. This significant tax policy change has led to a complex operating environment for international betting brands in India.
Super Group, a notable player in the market, recently announced its exit from India, effective October 1, 2023, citing the newly effective tax rules as rendering the Indian market commercially unviable.
The decision to impose a 28% GST on gambling services in India reflects the Government's efforts to exert greater control over the gambling and gaming industry, encompassing online gaming, horseracing and casinos.
The Ministry of Information and Broadcasting in India has further intensified these efforts by issuing an advisory paper calling for the immediate cessation of all gambling product advertisements across all platforms.
In contrast, Fun88 has emerged as an alternative for Indian bettors. The platform commits to providing a betting experience without imposing GST and TDS charges on its users.
Fun88 has established its presence in the Indian market, offering a range of sports betting options and casino games.
Furthermore, Fun88 has a history of partnerships and expansions. The platform became Newcastle United's Asian betting partner, establishing a strong presence in the sports betting arena. Also, the platform recently launched its fun88zone.net website in Vietnam.
