The Centre on Monday (June 13) issued an advisory to print, electronic and digital media to refrain from advertising online betting platforms in an earnest attempt to put a lid on a mushrooming billion-dollar online betting industry.
According to the advisory released by the Information and Broadcasting Ministry, “Betting and gambling, illegal in most parts of the country, pose a significant financial and socio-economic risk for the consumers, especially youth and children.”
Further, the latest suggestions come in light of instances of a number of advertisements of online betting websites and platforms appearing in print, electronic, social and online media.
“The advertisements of online betting are misleading, and do not appear to be in strict conformity 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 I&B Ministry said in a statement.
The government further advised the online and social media, including the online advertisement intermediaries and publishers, to not display such advertisements in India or target such advertisements towards the Indian audience.
In 2020, the government had issued an advisory to private satellite TV channels to adhere to the Advertising Standards Council of India (ASCI) norms on advertisements of online gaming which contained specific dos and dont’s for print and audio-visual advertisements of online gaming.
Many experts say the latest suggestions may adversely impact the fantasy sports companies, which are allegedly behind promoting online gambling.
According to a report by the industry body Federation of Indian Fantasy Sports (FIFS) and Deloitte released in March this year, India’s fantasy sports market is likely to touch Rs 1.65 lakh crore by FY2025 with a compound annual growth rate (CAGR) of 38 per cent. At present, the fantasy sports market stands at Rs 34,000 crore.
