New law for online gaming: Government panel
To regulate the Indian online gaming sector a draft has been being prepared by the top officials of the PM Narendra Modi’s panel. The panel has suggested that the India needs a regulatory body for the classification of online games as based on skill or chance. It added that India should introduce the rules to block restricted formats, and a strict action should be taken on gambling website.
Investors like Tiger Global and Sequioa Capital have supported the start-ups of gaming industry like Dream11 and Mobile Premier League, which are the most popular for the fantasy cricket. The report is likely to frame the future of mobile gaming industry in India, and the industry is anticipated to reach US$ 5 billion by 2025, from US$1.5 billion in 2022. It comes amid rising concerns over games causing addiction and “inconsistent state laws” disrupting business.
“On the aspect of prohibiting games of chance (e.g. gambling websites or apps) being played online, the proposed Digital India Act can include it in the list of prohibited user harms that will not be permitted,” the report stated.