New Delhi, Aug. 4 : All India Gaming Federation (AIGF) was launched in the national capital on Thursday to address the needs of the gaming sector, This not-for-profit organisation is to focus on policy advocacy, research and forum for discussion amongst various stakeholders associated with the gaming industry.
With world's largest youth population, India is embracing digital content and entertainment like never before, which is further enabled by the explosive growth of smart phones and affordable wireless internet.
In view of this transformation, the AIGF aims at dealing with issues surrounding the gaming industry, and will comprise of game operators, players, social activists, lawyers, economists, policy analysts, legal and advisory firms, technology companies and other stake holders.
AIGF is launched to emphasise on the positive aspects of the gaming industry in India, which was brought to light through a Panel discussion amongst eminent personalities from various fields.
According to a 2010 KPMG report, gambling and betting in India is worth over USD 60 billion, most of which is largely gray.
A recent report of the International Centre for Sports Security (ICSS) estimates the betting market in India to be worth over USD 130 billion.
FICCI estimates that the revenue potential by legalising betting and gaming could be around Rs. 20,000 crores. To support these findings, AIGF CEO Roland Landers projected on the objectives of the AIGF which includes finding solutions to issues faced by the industry, allowance of FDI and technology collaboration, promote responsible gaming, ensure player protection and work towards opening up the gaming industry.
"The gaming industry has tremendous potential for bringing revenues for the ex-chequer provided it is regulated fairly and taxed at a reasonable rate," said Landers.
If betting is legalised, it will be possible to monitor the betting patterns in a given sport. Therefore the menace of fixing in sport can be curtailed. It will also allow gaming companies to enter the market and curb the activities of criminal elements.