The UK India Business Council is a membership-based non-profit organization. The purpose of which was to develop trade and business relations between India. There is no doubt that UKIBC has a very good relationship with India. Most importantly, the agency works with the Government of India. Check Gaming News: Meghalaya most gaming-friendly state in India as per the UKIBC report.
The purpose of the work is to promote and increase bilateral trade. As a result, they help UK companies succeed. And this success comes from being well-established in India or in the early stages of their employment. In fact, the UKIBC also looks at gaming.
Gaming News: Meghalaya most gaming-friendly state in India as per the UKIBC report
Recently, UKIBC representatives met with State Cabinet Minister James PK Sangma. Not only that, they have met with several businesses in the UK. In this context, their purpose was to discuss the online gaming and sports betting landscape in the state.
Similarly launching the UKIBC Industry Report was another objective. However, it is worth mentioning here that UKIBC has named Meghalaya as India’s most gaming-friendly state in the gaming industry. You may wonder why only Meghalaya got this position.
Today’s article is for you to answer all these questions. Let’s see what exactly made Meghalaya a gaming-friendly state.
The Process Of Determine:
An indicator was judicious to determine the gaming-friendly state. Another key point is that each state will have a different game. Where Gaming and betting have been validate. Which is based on their location.
With this in mind, seven games are -Lottery, Horse Racing, Sports Betting, Poker, Rami, Casino, and Fantasy Sports. Above all these games, Meghalaya scored 92.85. Undoubtedly, Meghalaya had the highest score.
What UKIBC Says?
Kevin McColl, Managing Director of UKIBC, has a lot to say. He first thanked the Meghalaya government. For licensing the Games of Chance in the state.
This will help the state to contribute more revenue and bring in jobs. Only time will tell how effective it will be.
He added that a regulated market protects players. Must be remembered this is special protection. Which is not found in the unregulated sector.
Not only that, but the UKIBC report found that there are several state gaming licenses. But there is a 28% tax on the face value of lottery tickets.
So India’s rake fee tax will continue to be in line with the general practice around the world. Where there is a special design. This is doing for improving the rate of channeling of customer-manage platforms.
In 2021, India had a total of 33 million gaming users. But here is a prediction of KPMG. According to estimates, this number will reach 657 million by 2025.
Most of all, thanks to the growing popularity of smartphones and the Internet. This means that as the number of users increases day by day, the income will also increase.
This will increase the FY21 from 136 billion to 290 billion on the Fy25. The result represents a 100% increase over four years.