The Federation of Indian fantasy sports (FIFS), India’s first & only self-regulatory enterprise frame for fantasy sports, nowadays concluded the 4th version of its flagship occasion – GamePlan – that witnessed the release of ‘online fantasy sports: developing a Virtuous Cycle of sports development’ – a joint industry record through Deloitte and FIFS, and numerous attractive discussions and perspectives on the monetary effect of Online fantasy sports (OFS) in India and the way it is fuelling sports activities boom via fan engagement.
Recognising the excellent work done within the Indian OFS enterprise, one of the most high-quality keynote speeches was made with the aid of Jayesh Ranjan, primary Secretary of the Industries & trade (I&C) and information technology (IT), Government of Telangana. Justice A N Mittal, Chairman, UP law commission; Deepak Bagla, MD and CEO of Invest India; and Justice (Retd.) Arjan Sikri additionally placed forth their views on the effect of OFS on the economy, its position in sports development and the present-day legal landscape.
Speaking about the future of OFS within the state of Telangana, Mr Jayesh Ranjan, Principal Secretary of the Industries & Commerce (I&C) and IT technology (IT), authorities of Telangana, stated, “we’re aware of the regulatory issues that are there in the world of fantasy sports. I know that there are court judgments, there are different orders, and the scenario is a bit muddied and complicated at this factor in time.
I admit that there was a push back in Telangana inside the beyond about some sorts of games, especially games of talent, delusion sports activities, and so on. that have to be endorsed. I’ve taken the duty to introduce a completely easy and industry-friendly piece of law in place of what already exists.
I’ve consulted everyone who’s concerned on this area, such as representatives from the FIFS.” He additionally delivered, “I will assure you that we will see a bit of law wherein now not handiest self-regulation, however, development might be endorsed. We want to remain patient with what comes up from Telangana. I’m very assured that this could be some type of a function model for all other states also.”