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The Rajya Sabha passed the ‘Promotion and Regulation of Online Gaming Bill, 2025’ today, a day after the Lok Sabha. The Bill proposes a complete ban on real money games, and will deal a crushing blow to the startups in the segment once it comes into effect.
The government has cited risks of money laundering and terror funding, as well as annual losses of INR 20,000 Cr, due to real money games as the reason behind introducing the Bill.
Electronics and IT minister Ashwini Vaishnaw, while presenting the Bill, said that close to 45 Cr Indians lose money on online gaming platforms each year. “Online games are also used for money laundering and supporting terror activities against India,” he added.
The government has claimed that the move is not aimed at stifling the whole online gaming sector but to protect users from financial ruin and criminal exploitation. Vaishnaw highlighted the need to “promote and encourage the good parts” of online gaming.
Notably, the Bill proposes to ban all real money games, irrespective of whether they are games of chance or skill or both. It grants exceptions only to esports competitions.
It also bans all advertisements, or production thereof, involving money-based online gaming platforms. The Bill also bars banks, financial institutions and “individuals” from facilitating any transactions related to online money-based gaming platforms.
It is pertinent to mention that India has produced real money gaming unicorns like Dream11, MPL, and Games24x7. Overall, more than $3 Bn has been invested in the real money gaming segment, which also employs 2 Lakh people. However, the Bill has put a question mark on the existence of this industry.
(The story will be updated soon)
The post After Lok Sabha, Rajya Sabha Passes Online Gaming Bill appeared first on Inc42 Media.
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