- November 29, 2023
Core business of several online gaming companies are adversely affected by higher goods and services taxes from October this year. For many online lotusbook247 id gaming companies the major portion of their revenue came from real money games. The real money games involve betting and wagering on several games and sports.
But from the last couple of months, there has been a dent in the income of several online gaming companies as they need to pay higher taxes. The face value taxes on real money games have increased to 28 percent of bet amount. To cope up with these demands, the companies are diversifying their operations. They want to emerge bigger sporting conglomerates with many different types of business all bigger sport umbrella.
Companies operating from India such as lotus book 247 id offer betting on football, cricket, tennis and board games of casino. A gamer needs an id to enter the gaming world and bet on any particular game or sport. A successful outcome earns a huge monetary reward for gamers. The reward is several times higher than the betting amount.
Some online gaming companies and fantasy sport companies are trying to enter related fields like sports ecommerce, health fitness, content, and promoting offline board games to secure their future.
Some major fantasy online companies are witnessing 30-40 per cent decline in revenues. The decline in earnings before interest, depreciation, tax and ameliorate is close to 80 per cent in some cases.
The merger and acquisition is another option being explored by the gaming industry. The adjacent streams and companies with similar interests lotus book 247 id can be part of the wider gaming world. The idea is to take a smaller stake in a company, and then gradually increase if things go well for both companies. The companies need to align their interests and play along with each other.
