India Expects Online Gambling Revenue of a Billion and a Half in 2025
LISTEN TO THIS ARTICLE:The Indian government has announced it estimates it will achieve revenue of up to 140 billion rupees ($1.7 billion) in goods and services tax (GST) on gambling in the region for the 2025 trading year. This follows the introduction of a new gambling levy that was introduced at the end of last year.
The government outlined this had resulted in an increase in revenue from the GST and it expects to collect 75 billion rupees from the tax for the current year, which is up from 16 billion rupees in a year-on-year comparison. The statement goes on to forecast the level of revenue next year will reach 140 billion rupees.
Related:The Immense Opportunities and Challenges of the Indian Gambling Market
Indian Government Imposes 28% Tax on All Bets
The Indian government shocked stakeholders in the gaming industry when it announced a new online gaming tax in October last year. The new GST was set so the government would receive a 28% levy on all wagers made and applied to all forms of gambling in the jurisdiction.
Ministers in the Indian government stated they realized the tax introduced last year had caused shock in the industry but believed that the market had now stabilized. However, there is expected to be a review of the betting framework for gaming operators and the level of tax levied against the gambling companies, which will commence in April this year.
The industry has stabilized, but it is early to make conclusive remarks," he said. A review of the framework to tax online gambling companies will be conducted by April, but that doesn't mean tax rates will be changed. We are expecting an average monthly collection of 1.80 trillion to 1.85 trillion rupees from next fiscal year.
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