Parliament Passes Online Gaming Bill To Ban All Forms Of Money Games
Key Highlights Of The Promotion And Regulation Of Online Gaming Bill
The Promotion and Regulation of Online Gaming Bill was passed by Parliament to prohibit various forms of online money games. This includes operations related to fantasy sports and card games. The bill was approved in the Rajya Sabha amid significant opposition and debates.
Government's Stand On Online Money Games
- The Minister for Electronics and Information Technology, Ashwini Vaishnaw, strongly condemned online money games as a 'public health risk'.
- Vaishnaw reported that approximately 45 crore individuals have suffered due to online gaming addiction.
- The financial loss attributed to these activities is around Rs 20,000 crore.
Impact On The Gaming Industry
This legislative action is poised to significantly affect India's thriving $3.8 billion gaming industry, which is home to popular apps such as Dream11 and Games24X7.
- All forms of online betting, including fantasy sports and lotteries, will now be outlawed.
- Offenders may face imprisonment of up to three years and/or fines reaching Rs 1 crore.
- Repeat offenders could see penalties escalate to 3-5 years in prison and fines up to Rs 2 crore.
Next Steps
The bill now awaits the President's assent to become law, which is anticipated to reshape the landscape of online gaming in India.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.