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The argument that real-money gaming is essentially gambling and that the sector was always supposed to pay a higher tax stands on shaky ground.

The AI startup’s $100 million ARR claim does not quite add up even as Dream11—forced out of real-money gaming—prepares to take its massive user base into stockbroking.
The loss of business could dent volumes, but should have next to no effect on the bottom line of payment companies
The Indian government has banned online real-money gaming citing health concerns, but the evidence for treating it the same way as drugs or tobacco remains thin.