Betway closes operations in India
Betway, one of the world’s leading online gambling companies, has announced that it will be closing its operations in India. The company made the announcement on its website on September 30, 2023, stating that the decision was made due to the “increasingly complex regulatory environment” in the country.
Betway’s decision to close its operations in India comes at a time when the Indian government is taking a more aggressive stance towards online gambling. In May 2023, the government banned all online gambling and betting platforms from operating in the country. However, the ban was later lifted after several online gambling companies challenged it in court.
Despite the lifting of the ban, the Indian government continues to maintain a tight grip on the online gambling industry. In August 2023, the government released new guidelines for online gaming, prohibiting games involving betting. The guidelines also require online gaming companies to obtain a license from the government in order to operate in the country.
Betway’s decision to close its operations in India is likely to have a significant impact on the online gambling industry in the country. Betway was one of the most popular online gambling companies in India, and its closure will leave a large gap in the market.
