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Japan Smaller Capitalization Fund, Inc. The result is inevitable i. For the larger interest of gaming community of India, we are providing a basic guideline about legality of running and playing online fantasy sports and games in India.
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Please note this this is not a legal consultancy and interested stakeholders must con cult a lawyers or law firm of their own choice. Of course, if you wish you can also establish a client attorney relationship with Perry4Law and seek our techno legal online gaming service. Before discussing about legality of fantasy sports it is pertinent to know a little about it.
Briefly speaking, a fantasy sport is an online game that involves selection of and competition among virtual teams for points.
These points can be redeemed in multiple ways and money or cash is one of them. However, when cash for stakes is involved, a fantasy game or sport is required to comply with additional techno legal compliances.
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The present trends among fantasy sports stakeholders in India is to apply the tests of traditional rummy to online poker, online rummy and fantasy sports. However, this is a wrong approach.Meet Playwin's 100th Crorepati - Ramnivas Soni
At Perry4Law we strongly recommend that online poker, online rummy, online lotteries, fantasy sports, etc require customised and separate treatment than simply applying the skills v chance criteria. Even the central government and Supreme Court of India are cautious about these issues and they have deliberately refrained from commenting upon the legalities of online games in India.
Without going into much details, it is sufficient to say that relying solely upon skills v chance criteria for running online poker, online rummy, fantasy sports, etc would be a big mistake and a sure recipe of attracting legal sanctions in India.
While UIGEA does not impact the legality of any particular activity permitted or prohibited under other laws, it does contain some express exemptions to its funds transfer prohibitions.