AIGF & FICCI organizes a ‘Knowledge Session’
on
‘Integrity in Sports’
Dr. Shashi
Tharoor, Former Justice Balbir Singh Chauhan, Shri. KTS Tulsi, Bhaichung Bhutia
and other eminent guests attended the event
26th
July 2019: FICCI in association with AIGF (All India Gaming Federation) an apex body that focuses on
policy advocacy, research and forum for discussion among various stakeholders
associated with the online gaming industry hosted a ‘Knowledge Session’ on Integrity in Sports. The event saw
guests like Dr. Shashi Tharoor, Former
Justice Balbir Singh Chauhan, Shri. KTS Tulsi, Bhaichung Bhutia amongst
many othersin a fireside chat about the benefits of a regulatory framework
for the Online Gaming Industry.
Welcoming the gathering & setting the tone for the evening Mr. Siddhart Upadhyay, Co-Chair, FICCI
Sports committee said, “FICCI has
been a torchbearer in the field of sports development & propagating the
idea of sports as an industry. We are thrilled to organize an event of this
stature, wherein experts have gathered to talk about the importance of
regularizing the gaming & sports industry.”
The online gaming market has seen a tremendous growth. According to
KPMG, revenues have nearly doubled over the last four years, reaching INR43.8
billion in FY18 and is expected to grow further at a CAGR of 22.1 per cent from
FY 18-23 to reach INR 118.8 billion. With the growth of the industry, sports
betting has become highly popular, and although illegal, a huge market exists
for the same. FICCI estimates online sports betting to be INR 300,000 crore
industry, done illegally mainly through underground bookies or through several
international websites.
Mr. David Foster, Head of Regulatory
Affairs, GVC highlighted the importance
of integrity in sports and stated, “Positive conduct by athletes, administrators,
officials, supporters and other stakeholders, on and off the sporting arena is
extremely important. This enhances the reputation and standing of the sporting
contest and of sports overall.”
Senior parliament member, Dr. Shashi Tharoor said, “Long-term prognosis for
sports and betting is bleak if corruption is not dealt with. While
self-regulatory practices need to be followed by the industry, there is an
urgent need to have a statutory framework with government oversight to ensure
service providers are following license conditions to track suspicious betting
patterns and to have some control over the money flow to curb the generation of
black money.”
To
try and offer a solution to this recurring phenomenon, Dr. Tharoor had
introduced a Private Member’s Bill, titled the Sports (Online Gaming
and Prevention of Fraud) Bill in the lower house of parliament on 28th
December, 2018.Sharing insights on the bill Dr. Tharoor said, “In a
nutshell, my legislation seeks to introduce an effective administration to protect
the integrity of sportsby preventing and penalising sports fraud, while at the
same time regulating the online market for sports betting. “
Expressing
his views, Former Indian Footballer Mr.
Bhaichung Bhutia said, “Regularizing
the industry will lead to revenue generation for the state, which should be
further used in development of the sports industry. I am thankful to AIGF & FICCI to start a
discussion around this and hope that the government will see this as an opportunity
to support the sports industry.”
The event also
saw Mr. Amar Gahlot, Advocate - Lakshmikumaran & Sridharan attorneys and
former IRS present a white paper highlighting the Economic Impact of Regulation on Gambling and Betting.
Summing up the event, All India Gaming
Federation, CEO, Mr. Roland Landers said, “With the proliferation of sports leagues and
the development of the sports ecosystem in India, it has become a major
source of commerce and revenue for many entities, especially in the field of
betting or gaming in connection with sporting events. Though each Indian state
have their own Gaming Acts, what is ideally required is a Central regulation.”
Mr. Landers further pointed out the benefits
of a regulatory framework for the Online Gaming Industry and stated the
following
·
Job Creation – The Gaming
Industry is responsible for the creation of around 7000 direct and 3000
indirect jobs in the States of Goa and Sikkim. In addition, indirect
employment will be generated from the ancillary telecommunications,
marketing, financial, banking, and real estate sectors. Based on the above
figures, we can extrapolate that the Online Gaming Industry, if regulated, will
create lakhs of direct and indirect jobs nationally.
·
Revenue Generation - As per a
FICCI report in 2015, the Indian sports betting industry will contribute
in the excess of INR 19,000 crores in tax revenues to
the Government.
·
Technology
& Player Protection - The Gaming Industry is driven by robust technology
that ensures all processes are above board, player data is systematically
collected for only legitimate players to participate while protecting the
underage as well as to keep out those from financially weak backgrounds from
being impacted.
·
Responsible
Gaming - Responsible gaming policies will curb addiction and protect the youth
through enforcing regular audits, player age verification, and introducing
responsible gaming guidelines for operators.
·
Audited
Systems -Technical and operational standards for gaming devices and systems
will be prescribed. Additionally, independent organizations will be accredited
to certify that operator’s processes adhere to regulatory standards.
Finally, routine audits of gaming systems will be done by AIGF and leading
independent audit firms.
·
Curbing
Terrorism – It has been proven that beyond doubt that the money derived from the
prevalent illegal sports betting system fund cross border terrorism.
·
Licensed
Gaming Operators – The operators will be made to follow KYC norms, adhere
to anti-money laundering (AML) provisions and defaulters will be penalized.
Digital transactions will be verified and a regulatory requirement
to train in AML policies and procedures will be imposed.
·
Law and
Enforcement drain - Authorities today are spending approximately 30% of
their time trying to curb activities around illegal betting causing a huge
drain of their resources.
About AIGF
The
All India Gaming Federation is a not-for-profit organisation, an apex body that
focuses on policy advocacy, research and forum for discussion among various
stakeholders associated with the online gaming industry.
The
AIGF is committed to dealing with issues pertaining to the online gaming
industry through knowledge papers, conferences, events, discussions, press
briefings etc. Since inception in 2016, AIGF has been in the forefront, working
with relevant policymakers to demonstrate the benefits of having a regulated
marketplace here.
ABOUT FICCI
Established in 1927,
FICCI is the largest and oldest apex business organisation in India. Its
history is closely interwoven with India's struggle for independence, its
industrialization, and its emergence as one of the most rapidly growing global
economies.
A non-government, not-for-profit organisation,
FICCI is the voice of India's business and industry. From influencing policy to
encouraging debate, engaging with policy makers and civil society, FICCI
articulates the views and concerns of industry. It serves its members from the
Indian private and public corporate sectors and multinational companies,
drawing its strength from diverse regional chambers of commerce and industry
across states, reaching out to over 2,50,000 companies.
FICCI provides a platform for networking and
consensus building within and across sectors and is the first port of call for
Indian industry, policy makers and the international business community.
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