NEW DELHI (June 14): The Union Information and Broadcasting Ministry on June 13 issued an advisory to media platforms, asking them to refrain from accepting advertisements that promote online betting.
“Betting and gambling, illegal in most parts of the country, pose significant financial and socio-economic risk for the consumers, especially youth and children,” stated the advisory, which was issued to print, electronic and digital media.
The advisory comes in light of instances of a number of advertisements of online betting websites 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, a reference to which has also been made in the Information Technology (Intermediary 3. Guidelines and Digital Media Ethics Code) Rules, 2021,” it added.
The I&B ministry further advised: “In light of the above and having regard to the larger public interest involved, the print and electronic media is advised to refrain from publishing advertisements of online betting platforms. The online and social media, including the online advertisement intermediaries and publishers, are advised not to display such advertisements in India or target such advertisements towards the Indian audience.”
The advisory is expected to adversely affect the fantasy sports companies, who have been accused of promoting online betting.
The industry, which is estimated to be of the size of around $4.5 billion, has long been demanding the government to come out with a clear, singular policy that regulates them, Moneycontrol reports.
According to a report by consultant Deloitte and the Federation of Indian Fantasy Sports (FIFS), the industry is expected to grow to Rs 1.65 lakh crore by 2025, on the back of a 38 percent compound annual growth rate (CAGR).
