Gaming
FIFS welcomes MIB’s advisories against illegal offshore betting platforms ads
Mumbai: The Federation of Indian Fantasy Sports (FIFS), the industry’s self-regulatory body, has welcomed the ministry of information and broadcasting (MIB) decision not to allow private television channels, digital news publishers, and OTT platforms to broadcast/show advertisements for online betting sites and surrogate ads. The federation lauds the ministry for the move that reiterates FIFS’ stand against this menace. FIFS said that it has previously emphasised the need for identification and prohibition of offshore business activities to ensure consumer interest safeguards.
FIFS DG Joy Bhattacharjya said, “We thank the ministry of information and broadcasting for this important step. As FIFS, we have been creating awareness about the need for demarcation between the legitimate and illegitimate players in the online gaming ecosystem to ensure unwarranted elements like offshore betting and gambling don’t see a rise and adversely impact consumer interests. This move from the ministry will ensure that Indian citizens are educated about the risks on these platforms and do not get lured or trapped by the same. We are hopeful that this initiative will lead to further stringent action on these players by other arms of the government as well.”
As a big and positive step towards consumer interest protection, on 3 October 2022, MIB issued an advisory to private television channels, digital news publishers, and OTT platforms to refrain from showing advertisements for online betting sites and surrogate advertisements for such sites.
In the advisories issued by the government, a clear stand has been taken by MIB against direct and surrogate advertisements of offshore betting platforms, saying that it may also invite penal action for the broadcasters. The advisories also stated that since betting and gambling are illegal in most parts of the country, advertisements for these betting platforms as well as their surrogates are also illegal and should not be shown to Indian consumers.
The ministry, in its advisory, clearly highlighted that such offshore betting websites use news as a surrogate product to advertise their betting platforms, especially in the digital medium. The advisories mentioned that in these cases, there is a striking resemblance between the logo of the news platform and the betting website. The advisories also clarified that since betting and gambling are illegal in most parts of India, so are their advertisements, direct or surrogate. MIB mentioned the Consumer Protection Act 2019, Cable TV Network Regulation Act 1995 and the IT Rules 2021 to issue the advisories.
FIFS added that it takes consumer interest protection very seriously and recently revised and strengthened its charter in order to promote innovation with responsible growth for the fantasy sports industry. The new charter emphasises the role of the Fantasy Sports Regulatory Authority (FSRA), an independent self-regulatory body committed to promoting standardised best practises in fantasy sports.
Gaming
MTG gaming chief Benninghoff joins NODWIN board as esports firm primes for IPO
The Gurugram-based esports firm is pursuing a public listing, has returned to profitability and is growing revenues by 42 per cent
GURUGRAM: NODWIN Gaming is moving fast. The Gurugram-based gaming and esports company has launched a pre-IPO fundraising round, appointed UBS as lead adviser for both the round and a subsequent public listing, and landed a heavyweight board director, all in one go.
The new board member is Arnd Benninghoff, executive vice president of gaming at Stockholm-listed Modern Times Group (MTG), who has overseen the group’s strategic investments and portfolio growth since 2014. He is no stranger to building things: Benninghoff has founded and built fifteen companies, served as chief digital officer at ProSiebenSat.1 Media AG, managing director of SevenVentures, and chief executive of Holtzbrinck eLAB. He began his career as a journalist at Deutsche Presse Agentur and various TV networks, holds a Diplom-Kaufmann in business and administration from the University of Münster, and previously sat on the board of Edgeware AB.
The numbers back the ambition
NODWIN is not pitching a story without substance. The company has returned to EBITDA profitability and posted a 42 per cent year-on-year revenue surge, reaching $58.5m in the first nine months of FY2026. The pre-IPO round will combine a primary issuance to fund global expansion through organic growth and acquisitions, alongside a secondary sale to give existing shareholders some liquidity.
Akshat Rathee, co-founder and managing director of NODWIN Gaming, said Benninghoff understands “the entire lifecycle of the gaming and media ecosystem, from the boots-on-the-ground reality of building startups to the strategic complexity of managing multi-billion dollar global portfolios.”
Benninghoff, for his part, said the company “sits at the intersection of sports, entertainment, and technology, making it one of the most exciting players in the global gaming landscape today.”
A portfolio built for the global south
Founded in 2014 by Rathee and Gautam Virk, NODWIN has quietly assembled one of the more compelling esports portfolios outside the Western hemisphere. Its properties include DreamHack India and Comic Con India, and it recently acquired StarLadder, the Ukraine-based tournament organiser behind premier events in CS:GO and Dota 2. The company also serves as a long-term strategic marketing partner for the Evolution Championship Series (EVO), the world’s most prominent fighting game tournament, helping push it into new geographies.
Its geographic focus spans South Asia, Central Asia, Southeast Asia, the Middle East and Africa. Backers include Nazara Technologies, KRAFTON, Sony Group Corporation, JetSynthesys, and the founders’ investment vehicle Good Game Investments.
What comes next
With UBS running the books, a board freshly reinforced with European media and gaming expertise, and revenue heading in the right direction, NODWIN is laying the groundwork deliberately. The esports industry has burned investors before with big promises and thin margins. NODWIN’s return to profitability, combined with a real portfolio of owned intellectual properties across gaming, music and youth culture, gives it a more credible runway than most. The IPO clock is now ticking.
