India prohibits betting and wagering in online gaming, and introduces self-regulatory organizations.
The Government issued new regulations for Internet gambling on Thursday that forbids any game that involves betting or wagering and establishes a structure of several self-regulatory organisations (SROs). According to Rajeev Chandrasekhar, Minister of State for IT, online games that incorporate wagering or betting will be in violation of the new regulations governing online gaming. There will be a number of self-regulatory organisations (SROs) that include but are not restricted to the sector in their membership. We are dealing with a structure that enables an SRO—and there will be several SROs—to decide whether or not all forms of online gambling are permitted.
The simple premise of whether gambling is involved will be used to evaluate permissibility, and “if wagering is involved, the SRO will be able to say that those online games are not permissible.” He stated that online games that generate money will be required to comply with KYC requirements. Paavan Nanda, Co-founder of WinZO Games, commented on the development, saying, “The proposed amendment to the IT Rules, 2021 to provide a central, light-touch regulatory mechanism is a game-changer for the world’s largest gaming market, India.”
“The overall recognition of online games of skill by including them as the third type of intermediary after social media and content-related publishers/OTT players is beneficial for GST differentiation from gambling, providing the necessary regulatory stability, and facilitating a level playing field for all games of skill,” Nanda added.
The Minister stated that “the final guidelines for online gaming are still in the works” while publishing them. He also stated that private firms have presented an SRO model that would be reviewed with them. “The Government will notify the SRO.” It will be an autonomous body. We will begin with three SROs. “If there is a need for more, we will pursue it,” Chandrasekhar stated.
The Ministry of Electronics and Information Technology (MeitY) has announced changes to the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021, in reference to online gaming. The All India Gaming Federation (AIGF), India’s leading Industry Association for online gaming, praised MeitY for establishing regulatory clarity via online gaming laws. “These rules will go a long way in promoting consumer interest while helping the industry grow responsibly and transparently,” said Roland Landers, CEO of AIGF. “They will also help in curbing the menace of anti-national and illegal offshore gambling sites, which have been proliferating in recent years.” He went on to say, “We look forward to assisting the industry transition to the self-regulatory model envisioned under the rules and use learnings from the years of work that has been undertaken at the All India Skill Games Council.”
ALSO READ : Bill Gates London Ride | Expo 2020 saves UAE |
