On June 13, the Union Information and Broadcasting Ministry issued an advise to media outlets, requesting that they avoid from accepting advertising that encourage online gambling.
“Betting and gambling, which are banned in most regions of the nation, offer substantial financial and socioeconomic danger for consumers, particularly young and children,” according to the alert, which was distributed to print, electronic, and digital media.
The warning comes in response to a number of adverts for online betting companies that have appeared in print, electronic, social, and online media.
“The advertisements for online betting are misleading, and do not appear to be in strict compliance with the Consumer Protection Act 2019, Advertising Code under the Cable Television Networks Regulation Act, 1995, and advertisement norms under the Norms of Journalistic Conduct laid down by the Press Council of India under the Press Council Act, 1978,” the statement continued.
According to a government announcement, the I&B ministry has also directed internet and social media platforms, including online advertisement intermediates and publishers, “not to show such commercials in India or target such advertisements towards the Indian public.” The advise is anticipated to have a negative impact for fantasy sports businesses, which have been accused of encouraging online gambling.
The business, which is believed to be worth $4.5 billion, has long demanded that the government issue a clear, unified policy that controls them.
According to a survey by Deloitte and the Federation of Indian Fantasy Sports (FIFS), the sector is predicted to expand to Rs 1.65 lakh crore by 2025, with a compound annual growth rate of 38 percent (CAGR).