Poonam Nath

Online real money gaming banned under new bill tabled by the Government

Digital Desk: On Wednesday, the Lok Sabha approved the Promotion and Regulation of Online Gaming Bill, a draft law designed to reduce the number of financial frauds, addictions, and money laundering cases that are on the rise.

Online money gaming is now a crime under the bill, punishable by up to three years in prison and/or a fine of up to ₹1 crore.

The proposed law, put forth by Union IT Minister Ashwini Vaishnav, would prohibit all cash-based online betting transactions and prohibit banks from handling such funds.

The All India Gaming Federation has responded by calling for regulation rather than a ban, stating that a move of this kind might harm the sector, drive players to unlicensed platforms, and result in job losses.

According to PTI, the bill bans all forms of online gambling and betting, including online lotteries, online gambling (such as poker, rummy, and other card games), and online fantasy sports. The $3.8 billion gaming sector in the nation, which has attracted international investors and supported fantasy sports apps like Dream11, Games24X7, and Mobile Premier League, is expected to suffer a setback as a result of the move.

In addition, Union Home Minister Amit Shah introduced three bills in the Lok Sabha on Wednesday that would remove the prime minister and state and union territory chief ministers after 30 days of arrest.