Online gaming involving real money in India is prohibited to combat a growing issue, causing families to fracture.
The Indian parliament has passed a significant piece of legislation, the Promotion and Regulation of Online Gaming Bill, on August 20, 2022. This bill aims to regulate online gaming in India, with a specific focus on real-money gaming.
The decision reflects the acknowledgement of the impact and damage caused by real-money gaming online in India. The bill bans such activities and targets enterprises behind real-money gaming platforms and financial intermediaries facilitating betting on these platforms.
Notably, users of real-money gaming platforms will not be treated as criminals. However, hosting or enabling real-money gaming online carries a penalty of up to three years in prison and a fine of up to 10 million rupees (US$114,000).
The bill's scope is broad, encompassing providers of fantasy sports, poker, rummy, and other skill and chance games. While specific company names were not directly mentioned, the law could potentially affect prominent Indian and international gaming companies active in this sector.
The bill's passage is indicative of the damage caused by real-money gaming online in India. It is a response to concerns about problem gambling and the potential for fraud and money laundering associated with these activities.
Despite the penalties, the bill is not intended to criminalise users. Instead, it aims to create a safe and regulated environment for online gaming in India. The bill's implementation will likely have a large-scale impact on the Indian gaming market, valued at billions of dollars.
In conclusion, the Promotion and Regulation of Online Gaming Bill is a sweeping piece of legislation that aims to regulate and ban real-money gaming online in India. It targets enterprises behind these platforms and financial intermediaries, while ensuring that users are not treated as criminals. The bill's passage and implementation will have a significant impact on the Indian gaming market.
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