SOUTH ASIA 38
INDIA
Online gambling, international streaming, support racing industry India’s 200-year old horse racing industry is attracting international interest as online gambling and access to an increasing number of international fixtures bolsters revenue.
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ndia has six horse racing clubs, with the first race course being set up in 1777 in Madras. Racing is restricted to Indian-bred racehorses and the country has a well established breeding industry with stallions imported from all over the world. In recent years, the industry has faced a serious challenge due the imposition of a 28 percent goods and services tax on total wagers, which participants have said makes their pools unattractive and had led to a boom
Asia Gaming Briefings | April 2022
in illegal gambling. The Goods and Services Tax (GST) Council, the apex constitutional body, is studying the issue, which also affects other forms of gambling, and is expected to reach a decision this year. The Turf Authority of India has been lobbying for payment of the tax only on the commission, or service fee, retained by the race club. In the meantime, digital gambling and the ability to bet on overseas races has helped to shore up revenue.
In late 2020, The Royal Western India Turf Club, which operates racing out of Bombay and Pune, announced that it had teamed with Paytm First Games in what the club’s chairman, Zavaray Poonawalla, said could be a turning point for horse racing. Paytm Chief Operating Officer Sudhanshu Gupta said the ability to live stream races and bet through a mobile app would help horse racing enter into newer markets and enhance its popularity amongst younger audiences.
