Ashneer Grover, owner of Crickpe, believes founders should be involved in politics to stop levies on online gambling operators. He believes the government’s proposed 28 percent tax on players’ money will kill the fantasy gaming sector and calls for business people to enter politics.
It’s time for founders to become involved in politics and be heard, according to Ashneer Grover, the owner of the fantasy gaming website Crickpe, in order to stop the imposition of levies like these.
Ashneer Grover wrote on Twitter: “RIP – Real money gambling sector in India.”
Concerns have been raised by Ashneer Grover over the Centre’s proposal to levy a 28 percent tax on money that online gambling operators get from players. The former creator of BharatPe, who now runs his own fantasy gaming platform called CrickPe, claimed that the government’s action will kill the fantasy gaming sector and that it’s time for businesspeople to enter politics instead.
Grover tweeted, “RIP – Real money gaming industry in India.” “If the government expects people to deposit Rs 100 to play on Rs 72 pot entry (28 percent gross GST), and if they win Rs 54 (after platform fees), they will pay 30% TDS on that — for which they will receive a free swimming pool in their living room the first monsoon – it’s not going to happen!”
Being a part of the now-murdered fantasy gaming business was enjoyable. Ashneer Grover said that his own firm Crickpe, which allowed users to assemble virtual teams made up of the finest active real players and receive points based on their actual performance, had wasted $10 billion during this monsoon.
The former Shark Tank India judge added, “Time for startup founders to enter politics and be represented, or this is going to be spate industry after industry.”
Conclusion
Ashneer Grover, owner of Crickpe, believes it’s time for founders to become involved in politics to stop the imposition of levies on online gambling operators. The Centre’s proposal to levy a 28 percent tax on money received from players is causing concerns among fantasy gaming owners. Grover, who runs his own platform, CrickPe, believes the government’s actions will kill the sector and call for businesspeople to enter politics instead. He argues that the government’s expectations of people depositing Rs 100 for a Rs 72 pot entry and paying 30% TDS on winning Rs 54 for a free swimming pool are unrealistic. Grover’s own firm, Crickpe, wasted $10 billion during the monsoon season. He calls for startup founders to enter politics and be represented, or the industry will continue to suffer.
