FIFS, a non-profit body that was formed to create regulations on DFS, officially launched last week.
The Federation of Indian Fantasy Sports (FIFS) was officially launched on October 24 in India. The non-profit group represents 13 daily fantasy sports (DFS) operators and is supposed to protect users by creating a regulatory frame to operate in the country.
Genesis Burson Marsteller (GBM), a leading public advocacy firm, will be in charge of managing the Federation. Vinay Jha, Principal Advisor and Public Affairs at GBM, said: “A self-regulatory body supported by its members is the strategic way forward to address the issues and opportunities of the Fantasy Sports industry in an efficient manner.”
Moreover, CEO of Dream11 and one of the founding members of FIFS, added that operators are looking forward to working with FIFS in the exponentially growing industry in order to protect all Indian users’ interests through a self-regulatory framework.
Earlier this year, Indian Courts in Punjab and Haryana determined that daily fantasy sports services were allowed to legally operate in the states as the daily fantasy sports sector cannot be considered as a form of gambling because it operates as a game of skill.
Slotegrator’s overview of gambling in Uzbekistan
Online casino and sportsbook provider Slotegrator is one of the leading aggregators in the Eastern European and CIS gambling markets — and rightfully so: the company keeps a close eye on the evolution of iGaming in each country and provides you all the latest information. Slotegrator’s new article shines the spotlight on the gambling landscape of Uzbekistan.
In November 2019, the government of Uzbekistan published a decree on sports activities that also revealed officials’ intention to legalize the sports betting sector of the gambling industry, which was banned in 1991 (with one exception — state lotteries).
The potential legalization of sportsbook businesses looked like a serious and meaningful step forward on the government’s part, and was supposed to open some new doors to the highly promising market for sponsors and investors. It was also seen as a natural stimulus to help Uzbekistan’s sports industry — particularly football — make a giant leap forward.
In addition to the initiative to develop sports betting, there is a project to create a special gambling zone in the city of Muynak. The logic behind the idea is to popularize Uzbekistan as a tourism destination and attract more international investments into the country’s economy. Meanwhile, the planned construction of an entertainment area should include a sports track as well as a shopping mall.
The year 2020 has been set to carry out all the necessary campaigns to lay the groundwork for taking the next steps and eliminating any possible legal contradictions and loopholes.
Read Slotegrator’s new article on Uzbekistan’s gambling initiatives to find out more about the current status of the project.
Pave the way to gambling success in India by launching an online casino business powered by Slotegrator
While businesses everywhere are barely keeping their heads above water in a turbulent global economy, India offers a safe haven. When it comes to iGaming, the Indian horizon looks crystal clear and cloudless. This is one of many reasons why online casino operators are setting a course for India, which offers a more promising financial and legislative climate than many other jurisdictions.
India has been seen as a land of promise and opportunity throughout human history, with countless business endeavors made to the country in hopes of tapping into its riches — and the iGaming industry is no different. Online casino and sportsbook software supplier Slotegrator made its own trip to the Indian market to ensure it offers the online gambling community firm — and profitable — ground to stand on. The evidence that the game is worth the candle? India has a population of over 1.3 billion, constantly increasing access to mobile technology, and a gambling industry already estimated to be worth $60 billion USD per year. Need we say more?
Slotegrator has carried out thorough research on India’s iGaming prospects, the result of which is another vivid illustration of the current opportunities: India is now home to nearly 700 million smartphone users, with over 127 million new users coming online since 2019. With that in mind, iGaming operators may be asking themselves what steps they should take to launch an online casino project. They can find the answer in “A guide to starting an online casino in India” by Slotegrator.
The article leaves no stone unturned, shining a spotlight on all the crucial aspects of the serpentine process of opening an online gambling project. By getting in-depth information and studying up on necessary tricks under Slotegrator’s wing, operators can perfectly gear themselves up for iGaming success. With a focus on an in-depth market overview, Slotegrator leads readers through the journey to establishing a flourishing iGaming business, pinpointing all the market’s intricacies along the way.
In India, like in any other jurisdiction, operators should be well-educated with respect to gambling laws, which vary from state to state. While the regulatory framework in the country is complicated, ignorance will not be seen as an excuse, so operators should take careful note of online gambling regulations in order to find firm legal footing on Indian soil.
To run a successful iGaming business, operators have to lay the groundwork for the future of their projects, and Slotegrator’s guide to starting an online casino in India is definitely a helping hand for ambitious business owners with their eye on the booming market.
Are Online Casinos in Malaysia Legal?
If you are looking for a place to go on vacation for, or if you are looking for a foreign land to retire on, going to Southeast Asian countries can be a breath of fresh air and a good dose of a fresh view for anyone. This part of the continent is a favorite for all kinds of tourists–those who are into beaches, those who are into peaceful lands, or those who are into some good city life, and even for those who want to keep the feel of the bright lights and the rush of the Las Vegas life–simply put, gambling.
Naturally, before engaging in any kind of activity on foreign land, you would want to make sure how things work–what are the things you can do, and what are the things that you cannot do. As such, if you are someone who would want to visit Malaysia and you have gambling as one of the things in your mind, you must have a deep understanding of how the laws and regulations in the country regarding gambling.
If you are a gambler and looking to tour in Malaysia, one of the first things you should know is this: you can still play casino games in the country. Right now, the only legal casino establishment in the country is the integrated hill resort Casino de Gentin of the Genting Group. This is located at the Genting Highlands in Pahang. Other than that, no casino or betting establishments are recognized by the government as legal. This is due to the move of the Malaysian government that aimed to control and regulate gambling by stopping the granting of licenses for any betting establishment.
As such, this makes online betting a technically illegal activity in Malaysia. This means that no online casino or betting site operator can operate within the country. However, there is a grey area of uncertainty when it comes to Malaysian citizens betting through offshore sites. What a lot of people recommend for anyone who is into online betting, is to just bet on an offshore site that is preferably based in Europe that accepts international customers.
There are at least three major laws that influence how online betting, and gambling as a whole, in the country.
The Betting Act of 1953, simply put, outlaws all forms of sports betting in Malaysia–of course, except the currently recognized casino house in the country. The law can impose a fine of 200,000 ringgits and five years in prison for anyone who will be caught and proven to be operating a betting house illegally. Whether it includes today’s modern online betting sites is unclear.
This act encompasses all forms of gambling, to the point that one can be criminally prosecuted for not just operating a gaming house but simply even for just being caught inside one.
The law, which is extensive and comprehensive, encompasses every and all possible locations and forms where anyone can do betting and gambling. Still, it has no clear laws against online betting.
Malaysia is a dominantly Muslim country, with more than 60% of its residents being Muslims. Thus, most of its people are bound by what is called Sharia Law.
The Sharia Law, which all Muslim people are bound to and they must adhere to, considers all forms of gambling–referred to as maisir or qimar–as absolutely forbidden or haram, in Muslim terms. However, non-Muslim people who are in the country are not bound by these laws.
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