#FactCheck- Delhi Metro Rail Corporation Price Hike

Introduction 

Betting has long been associated with sporting activities and has found a growing presence in online gaming and esports globally. As the esports industry continues to expand, Statista has projected that it will reach a market value of $5.9 billion by 2029. As such, associated markets have also seen significant growth. In 2024, this segment accounted for an estimated $2.5 billion globally. While such engagement avenues are popular among international audiences, they also bring attention to concerns around regulation, integrity, and user protection. As esports builds its credibility and reach, especially among younger demographics, these aspects become increasingly important to address in policy and practice.

What Does Esports Betting Involve? 

Much like traditional sports, esports engagement in some regions includes the practice of wagering on teams, players, or match outcomes. But it is inherently more complex. The accurate valuation of odds in online gaming and esports can be complicated by frequently updated game titles, changing teams, and shifting updates to game mechanics (called metas- most effective strategies). Bets can be placed using real money, virtual items like skins (digital avatars), or increasingly, cryptocurrency. 

Esports and Wagering: Emerging Issues and Implications

1. Legal Grey Areas:  While countries like South Korea and some USA states have dedicated regulations for esports betting and licensed bookmaking, most do not. This creates legal grey areas for betting service providers to access unregulated markets, increasing the risk of fraud, money laundering, and exploitation of bettors in those regions.  
2. The Skill v/s Chance Dilemma:  Most gambling laws across the world regulate betting based on the distinction between ‘games of skill’ and ‘games of chance’.  Betting on the latter is typically illegal, since winning depends on chance. But the definitions of ‘skill’ and ‘chance’ may vary by jurisdiction. Also, esports betting often blurs into gambling.  Outcomes may depend on player skill, but in-game economies like skin betting and unpredictable gameplay introduce elements of chance, complicating regulation and making enforcement difficult.
3. Underage Gambling and Addiction Risks: Players are often minors and are exposed to the gambling ecosystem due to gamified betting through reward systems like loot boxes. These often mimic the mechanics of betting, normalising gambling behaviours among young users before they fully understand the risks. This can lead to the development of addictive behaviours. 
4. Match-Fixing and Loss of Integrity: Esports are particularly susceptible to match-fixing because of weak regulation, financial pressures, and the anonymity of online betting. Instances like the Dota 2 Southeast Asia Scandals (2023) and Valorant match-fixing in North America (2021) can jeopardise audience trust and sponsorships. This affects the trustworthiness of minor tournaments, where talent is discovered.
5. Cybersecurity and Data Risks:  Esports betting apps collect sensitive user data, making them an attractive target for cybercrime. Bettors are susceptible to identity theft, financial fraud, and data breaches, especially on unlicensed platforms. 

Way Forward

To strengthen trust, ensure user safety, and protect privacy within the esports ecosystem, responsible management of betting practices can be achieved through targeted interventions focused on:

1. National-Level Regulations: Countries like India have a large online gaming and esports market. It will need to create a regulatory authority along the lines of the UK’s Gambling Commission and update its gambling laws to protect consumers.   
2. Protection of Minors: Setting guardrails such as age verification, responsible advertising, anti-fraud mechanisms, self-exclusion tools, and spending caps can help to keep a check on gambling by minors.
3. Harmonizing Global Standards:  Since esports is inherently global, aligning core regulatory principles across jurisdictions (such as through multi-country agreements or voluntary industry codes of conduct) can help create consistency while avoiding overregulation. 
4. Co-Regulation: Governments, esports organisers, betting platforms, and player associations should work closely to design effective, well-informed policies. This can help uphold the interests of all stakeholders in the industry.

Conclusion

Betting in esports is inevitable. But the industry faces a double dilemma- overregulating on the one hand, or letting gambling go unchecked, on the other. Both can be detrimental to its growth. This is why there is a need for industry actors like policymakers, platforms and organisers to work together to harmonise legal inconsistencies, protect vulnerable users and invest in forming data security. Forming industry-wide ethics boards, promoting regional regulatory dialogue, and instating transparency measures for betting operators can be a step in this direction to ensure that esports evolves into a mature, trusted global industry.

Sources 

• https://www.statista.com/outlook/amo/esports/esports-betting/worldwide 
• https://www.skrill.com/en/skrill-news/gaming/how-does-esports-betting-work/ 
• https://www.si.com/esports/betting/biggest-challenges-esports-betting ‍
• https://www.topesportsbettingsites.com/country/india/

Artificial intelligence is growing at a rapid pace, with startups promising breakthroughs in industries and attracting billions in investment. Among these was Builder.ai, a London-based company founded in 2016 by an Indian entrepreneur. Once valued at over $1.5 billion, it was known for its game-changing platform that could let anyone build custom apps quickly and affordably with the help of AI.

Yet in 2025, Builder.ai collapsed dramatically, filing for bankruptcy across multiple countries and laying off nearly 80% of its workforce. What was once a celebrated unicorn has become a cautionary tale, exposing not only the risks of hype-driven growth in AI but also inflicting reputational damage on Indian founders in the global startup ecosystem.

The Rise: Big Promises, Big Investors

Builder.ai branded itself as a no-code/low-code app development platform, where its AI assistant “Natasha” would guide customers in creating apps without technical expertise. The pitch was simple and attractive: app development was made “as easy as ordering pizza.” The story resonated with major investors. Backed by SoftBank, Microsoft, and Qatar’s sovereign wealth fund, Builder.ai raised more than $450 million. It scaled rapidly, positioning itself as one of Europe’s most promising AI startups.

The Cracks Appear

Behind the glamour, the first cracks appeared as early as 2019, when The Wall Street Journal reported that Builder.ai’s platform depended far more on human engineers than on the AI automation it advertised. In reality, the much-hyped AI assistant “Natasha” was often just “a guy instead”, i.e., skilled developers in India manually writing code behind the scenes on whose backs the company expanded aggressively. 

The real blow came from Builder.ai’s finances. The company was accused of inflating revenue figures by 300%, with alleged use of round-tripping tactics involving fake invoices that inflated financials.  While it publicly projected revenues of $220 million in 2024, its actual figure was closer to $55 million. When this reality surfaced, investor confidence was lost quickly, and the company’s liabilities ballooned to nearly $100 million, with less than $ 10 million in assets remaining. 

Collapse and Legal Scrutiny

By 2025, the company’s foundations had crumbled. The founder stepped down as CEO but retained the unusual title of “Chief Wizard.” Massive debts to AWS, Microsoft, and other partners mounted into the hundreds of millions. Assets were seized, and the company filed for bankruptcy in the U.S., UK, India, and the UAE.

For clients, the collapse meant abandoned projects. For employees, around 1,000 of them, it meant sudden unemployment. And for investors, it was a devastating loss. The Securities and Exchange Commission and U.S. Attorney’s Office in New York have since launched investigations into potential fraud and investor misrepresentation.

Reputational Damage: Impact on Indian Founders

Perhaps the most enduring consequence of Builder.ai’s downfall is the hit to the credibility of Indian founders on the global stage.

For years, Indian entrepreneurs have earned trust in global tech circles, with leaders heading companies from Google to Microsoft. Indian-led startups abroad were viewed as reliable, innovative, and growth-driven. Builder.ai’s collapse disrupts this narrative.

The allegations of inflated revenue, AI exaggeration, and questionable governance risk reinforcing skepticism among global investors regarding Indian organisational ethics. For other Indian founders seeking international capital, the road has now become tougher: stricter due diligence, harsher scrutiny of claims, and slower trust-building.

This reputational damage arrives at a critical time when India is positioning itself as a global hub for AI and leads the world in AI skill penetration. Rather than highlighting the strength of India’s entrepreneurial and talent ecosystem, the fall of Builder.ai has drawn attention to the risks of overpromising and underdelivering.

Conclusion

The fall of Builder.ai is more than the bankruptcy of one AI unicorn. It is a warning to companies against chasing hyper growth fueled by the riding of the AI wave. While the company’s downfall exposed flaws in governance and accountability, its deeper impact lies in how it dented trust. To drive AI and technology innovation, startups must move beyond flashy valuations and commit to authentic innovation, transparency, and financial integrity.

References

• https://www.moodys.com/web/en/us/insights/lending/moodys-early-warning-in-action-builder-ai.html#:~:text=Despite%20marketing%20itself%20as%20an,fake%20invoices%20that%20inflated%20financials. 
• https://today-innovation.webflow.io/unveiling-the-power-of-natasha-an-ai-assistant-of-builder-ai-to-revolutionize-app-generation 
• https://finance.yahoo.com/news/builder-ais-shocking-450m-fall-170009323.html
• https://www.pib.gov.in/PressReleasePage.aspx?PRID=2108810 
• https://www.cnbctv18.com/technology/how-a-london-based-startups-artificial-ai-gambit-backfired-ws-l-19613692.htm# 

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Introduction

Mr Rajeev Chanderashekhar, MoS, Ministry of Electronics and Information Technology, on 09 March 2023, held a stakeholder consultation on the Digital India Bill. This bill will be the successor to the Information technology Act 2000 and provide a set of regulations and laws which will govern cyberspace in times to come. The consultation was held in Bangalore and was the first of many such consultations where the Digital India bill is to be discussed. These public stakeholder consultations will provide direct public feedback to the ministry, and this will help create a safe and secure ecosystem of Indian Cyber Laws.

What is the Digital India Act?

Cyberspace has evolved the fastest as compared to any other industry, and the evolution of the growth cannot be presumed to be stagnant or stuck as we see new technologies and gadgets being invented all across the globe. The ease created by using technology has changed how we live and function. However, bad actors often use these advantages or fruits of technology to wreak havoc upon the nation’s cyberspace. The use of technology is always governed by the application of usage and safeguard policies and laws. As technology is growing exponentially, it is pertinent that we have laws which are in congruence with today’s time and technology. This is keenly addressed by the Digital India Act, which will be the legislation governing Indian Cyberspace in times to come. This was the need of the hour in order to have the judiciary, legislature and law enforcement agencies ahead of the curve when it comes to cyber crimes and laws.

What is the Digital India Bill’s primary goal?

The Digital India Bill’s goal is to guarantee an institutional structure for accountability and that the internet in India is accessible, unhindered by user harm or criminal activity. The law will apply to new technologies, algorithmic social media platforms, artificial intelligence, user risks, the diversity of the internet, and the regulation of intermediaries. The diversity of the internet, user hazards, artificial intelligence, social media platforms, and intermediary regulation are all discussed.

Why is the Digital India Bill necessary?

The number of internet users in the country currently exceeds 760 million; in the upcoming years, this number will reach 1.2 billion. Despite the fact that the internet is useful and promotes connectivity, there are a number of user damages nearby. Thus, it is crucial to enact legislation to set forth new guidelines for individuals’ rights and responsibilities and mention the requirement to gather data.

Major Elements of the Digital India Act

Major Elements of the Digital India Bill, which will eventually become an Act, which will contribute massively towards a safe cyber-ecosystem, some of these elements aim towards the following-

• The legislation attempts to establish an internet regulator.
• Women and Child safety.
• Safe harbour for intermediaries.
• The right of the individual to secure his information and the requirement to utilise personal data for legal purposes provide the main obstacles to data protection or regulation. The law tries to deal with this difficulty.
• A limit will be placed on how far a person’s personal information can be accessed for legal reasons.
• The majority of the bill’s characteristics are contrasted with the EU’s General Data Protection Regulation.

The Way Ahead

As we ride the wave of developments in cyberspace regarding emerging technologies and automated gadgets, it becomes pertinent that the state takes due note of such technologies and the courts take cognisance of offences committed by using technology. Law enforcement agencies must also train police personnel who can effectively and efficiently investigate cybercrime cases. The ministry also released a few bills last year, such as – the Telecommunication Bill, 2022, Intermediary Rules and the Digital Personal Data Protection Bill, 2022, to better address the shortcomings and the issues in cyberspace and how to safeguard the netizens. The Digital India Act will essentially create a synergy between the current bills and the new ones to come in order to create a wholesome, safe and secure Indian cyber ecosystem.

Conclusion

Digital India Bill is necessary to address the challenges of cyberspace, like personal data and privacy, and policies related to online child and women safety to create a and create a modern and comprehensive legal framework that aligns with global standards of cyber laws. The draft of the bill is expected to come out by July. The ministry looks forward to maximising the impact of the bill through such continuous and effective public consultation to understand and fulfil the expectations and requirements of the Indian netizen, thus empowering him/her equivalent to the netizen of a developed country.