New Delhi: The Indian government has released new rules for online gaming that ban games that involve betting or wagering. The rules also require the establishment of multiple self-regulatory organizations (SROs) to determine the permissibility of an online game. Under the new regulations, the SROs will be responsible for publishing a framework to protect users against the risk of gaming addiction, financial loss, and fraud on their websites. The framework will include repeated warning messages during gaming sessions, and users will have the option to exclude themselves from playing once they have reached pre-defined time or money limits.
The All India Gaming Federation (AIGF) welcomed the new regulations, describing them as a "decisive first step" towards comprehensive regulation of online gaming. The AIGF said the new rules would promote consumer interest and help the industry grow responsibly and transparently. The regulations would also help to curb illegal offshore gambling sites, which have proliferated in recent years. The AIGF pledged its support to the government in making online gaming a cornerstone of the USD 1 trillion digital Indian economy.
WinZO games also praised the new regulations, saying they would make India a global leader in gaming. The company said the regulations would help to create a more stable business environment, reduce regulatory fragmentation at the state level, and boost investor confidence.
Mobile Premier League (MPL) described the release of the new rules as a "watershed moment" for the industry. The company said the regulations recognized online gaming intermediaries and distinguished them from gambling. The uniform legal framework provided by the rules would boost investor confidence and help to create a globally competitive gaming industry in India, said Sai Srinivas, CEO and Co-Founder of MPL.
The new regulations were released after the government held consultations with various stakeholders in the online gaming industry since May 2022. The industry had been calling for comprehensive regulation of online gaming for some time, and the government's move was widely welcomed.
Roland Landers, CEO of the AIGF, thanked the government for acknowledging the long-standing demand of gamers and the online gaming industry. He said the regulations would support innovation, boost Create in India and Brand India, and propel India's Techade.
The government's approach was described as "very open and transparent" by the AIGF, which said it looked forward to assisting the industry transition to the self-regulatory model envisioned under the rules. The AIGF said it would use learnings from the years of work that has been undertaken at the All India Skill Games Council (AIGSC), the oldest and largest voluntary self-regulatory body for online gaming.
The new regulations are expected to have a significant impact on the online gaming industry in India. The industry has been growing rapidly in recent years, driven by the increasing popularity of mobile gaming and the growing penetration of smartphones in the country. With the new regulations in place, the industry is expected to become more responsible, transparent, and competitive, leading to increased investment and growth.
Overall, the release of the new online gaming rules is being hailed as a landmark moment for the industry in India. The regulations are expected to spur innovation, boost investor confidence, and make the sector more globally competitive. They will also help to protect consumers against the risks associated with online gaming while promoting responsible and transparent growth of the industry. (With Agency Inputs)
