Online Gaming App: The country needs a new federal online gaming (Digital India Act) law, which can give the government the flexibility to regulate and punish banned gaming formats with the power to punish and block them.
Online Gaming App : If you play online games on Online Gaming App, then news is very important for you. You must have heard that make your own cricket team on mobile and win lakhs of rupees. Some people are earning big money from many such tempting online gaming apps, about which the government is not aware, but now the arbitrariness of online gaming apps like Dream11 will not run in the country. For this, the government has started preparing to crack down on online gaming apps like Dream11. According to a report, a government panel has recommended the creation of a regulatory body for online games in India. This regulatory body will keep an eye on such gaming apps, which are based on skill or luck by chance. Along with this, this panel has also recommended strict rules to prevent these gaming apps from turning into gambling dens and block banned formats.
Let us tell you that this panel of high officials of Prime Minister Narendra Modi has prepared a draft to regulate the online gaming sector in the country after several months of exercise. With this much-awaited report, the future direction of this sector, which has become an industry of thousands of crores in the country, is likely to be decided. Let us tell you that this confidential draft report has been submitted to the government on August 31. The draft recommends setting up of a new regulatory body under the IT ministry to decide which online games qualify as skills or games. After this, the regulation and legal scope of all of them will be decided.
The country needs this new law
The draft report clearly states that the country needs a new federal online gaming (Digital India Act) law, which gives the government the power to punish and block banned gaming formats as well as the flexibility to regulate them. . The panel has also made it clear that this legal will apply to all types of skill games, whether they are free or are offered in the pay-to-play format.
At the same time, the panel has clearly recommended that instead of gambling, only online skill games should be recognized, which the government should handle. The panel has also noted that many illegal offshore betting and gambling websites have become extremely popular among Indian users. To prevent this, the panel has also recommended the inclusion of a list of banned games in the proposed Digital India Act. However, on the basis of this draft report of the panel, now the Union IT Ministry will prepare a final report. After this, this report will be sent to the Cabinet Secretariat for approval. However, no deadline has been fixed for when all this work will be completed.
Estimated to become a 40,000 crore industry
Mobile gaming industry is growing very fast in the country. When some of its figures were taken, it has come to the fore that at present, the online gaming industry is currently doing business of about $ 1.5 billion (about Rs 12 thousand crore) every year in the country. Please tell that the government does not get any revenue on this business. This business is estimated to reach $5 billion (about Rs 40,000 crore) annually in the next three years i.e. by 2025. At the same time, in the year 2020 report of Indian trade group FICCI (FICCI) and consulting firm EY, it was told that the online gaming industry did a business of 65 billion rupees in the year 2019 in India. In this, about 46 billion rupees i.e. 71 percent stake was of real money.
Foreign investors are getting the most interest
Now the interest of foreign investors is also increasing rapidly in the market of Indian online gaming apps. In the past, foreign investors like Tiger Global and Sequoia Capital have invested in famous Fantasy Cricket gaming startups like Dream11, Mobile Premier League or MPL. Along with this, the interest of investors in real money gaming apps has increased due to the brand endorsements of top Indian cricketers. After the arrival of foreign investors, the possibility of backdoor entry of gambling websites of European countries in the online gaming business had increased the most. While due to this also this business is being regularized.
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