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The homegrown real money online gaming ecosystem is staring at a potential wipeout as the government is planning to introduce a Bill to ban online games involving money.
The Union cabinet approved the online gaming bill earlier today.
Sources told Inc42 that the draft norms plan to prohibit all real money games, irrespective of whether they are games of chance or skill or both. The only exception granted has been for esports competitions.
The proposed rules also ban all advertisements, or production thereof, involving money-based online gaming platforms. Not just this, the draft rules also bar banks, financial institutions and “individuals” from facilitating any transactions related to online money-based gaming platforms.
Called the “Promotion & Regulation of Online Gaming Bill 2025”, the Bill proposes setting up of a dedicated agency to “recognise, categorise and register online games”. The sources said that the new authority would be tasked with addressing complaints related to online gaming platforms.
The draft rules also underline strict punishments for flouting the said norms. Operating a money-based online gaming platform could attract a jail term of up to three years or a fine of INR 1 Cr or both.
Advertising a real money gaming platform could invite imprisonment for a term of two years or a fine of INR 50 Lakh, or both. Any entity or person processing transactions for money-based gaming apps will be liable to pay a fine of up to INR 1 Cr and an imprisonment of up to three years, or both.
Recurring violations will entail stricter provisions.
(This story will be updated soon)
The post Real Money Gaming Ecosystem Stares At Oblivion As Govt Mulls Total Ban appeared first on Inc42 Media.
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