New Delhi: New rules for online gaming will spur innovation, boost investor confidence and eliminate platform gambling, making the sector globally competitive, the industry said on Thursday. The rules are expected to help reduce regulatory fragmentation at the state level and promote a more stable business environment, with the industry in one voice hailing the rules as a “watershed moment”, a “game-changer” and a “landmark”. has been described in
The All India Gaming Federation (AIGF) termed it a decisive first step towards comprehensive regulation for online gaming, which would push the industry to compete globally, while WinZO Games said the move was “really successful in India”. brings the dawn of a global gaming industry.”.
The government on Thursday issued new rules for online gaming that prohibit betting and sports betting, and include an institutional framework of multiple self-regulatory organizations (SROs) to determine the permissibility of an online game. .
Under the rules, SROs (initially three SROs will be notified) will have to publish on their websites a framework to safeguard users against the risk of gaming addiction, financial loss and financial fraud. The framework should include repeated warning messages at a high frequency beyond a reasonable duration for a gaming session and a provision to enable the user to lock himself out when the user-set limit for time or money spent is reached. Should be
“…we are grateful to MeitY (Ministry of IT) for notifying amendments to regulate online gaming under the Indian Information Technology Act and acknowledging the long-standing demand of gamers and the online gaming industry, said Roland Landers, CEO, All India Gaming Federation.
Landers said the government recognized the demands of the industry and provided light-touch, but comprehensive regulations that would support innovation, promote Create in India and Brand India, and drive India’s tech. According to the All India Gaming Federation, the regulations will go a long way in promoting consumer interest while helping the industry grow responsibly and transparently, and also in curbing the menace of anti-national and illegal offshore gambling sites Will help, which are growing rapidly in India. The last few years.
“We look forward to assisting the industry transition to the self-regulatory model envisaged under the regulations and use the learnings from years of work done at the All India Skilled Sports Council (AIGSC), the oldest and largest voluntary self —is the regulatory body for online gaming,” Landers said.
The government maintained “a very open and transparent approach” throughout the process and heard various stakeholders in the online gaming eco-system from May 2022, AIGF aims to make online gaming a cornerstone of the USD 1 trillion digital Indian economy Pledged to support the government. ,
The Mobile Premier League (MPL) described the release of new online gaming regulations as a watershed moment for the industry “as it recognizes online gaming intermediaries and separates them from gambling”.
Sai Srinivas, CEO and Co-Founder, MPL said, “The regulations will help us realize our PM’s vision to make India a global leader in gaming and contribute to the continued success of Brand India.” , Said.
The uniform legal framework provided by these regulations will enhance investor confidence. MPL’s Srinivas said, “We hope this will also help reduce regulatory fragmentation at the state level, as also mentioned by the Hon’ble Minister, create a more stable business environment and help eliminate gambling platforms Will get.”
He added that with the transition to the self-regulatory model recognized by MeitY, MPL looks forward to working closely with industry peers and other stakeholders.
“We believe this endeavor will help build a sustainable and thriving gaming ecosystem in India,” Srinivas said. Pavan Nanda, co-founder of WinZO Games, said the centralised, light-touch regulatory mechanism is a game-changer for India, the world’s largest gaming market.
“A holistic recognition of online games of skill through inclusion as a third form of intermediary after social media, and content-related publishers/OTT players, is beneficial to GST differentiation from gambling, providing the necessary stability of regulation, And the facility provides a level-playing field for all games of skill,” said Nanda.
WinZO games praised the Center for taking very strong steps to protect Indian consumers from illegal offshore betting and gambling under these provisions. “The draft empowers the Government through MEITY to take necessary steps to determine whether an online platform is a gaming platform or a betting platform and accordingly act under section 69(a) against betting platforms, especially offshore betting platforms.” initiates immediate action under the IT Act,” said Nanda of WinZO Games.
This is very positive news for both the industry and the end consumer, creating a safer and more accountable internet. Nitish Mittersen, Founder and CEO, Nazara Technologies, said the notified regulations are historic steps that will help the gaming industry immensely and provide a lot of clarity on the sector. Ranjana Adhikari, Partner, Induslaw, said the online gaming rules are a positive step in the right direction and puts the central government in the driver’s seat for online gaming regulation.
According to Induslaw, “The light-touch approach and self-regulatory mechanism proposed by the Central Government is progressive and keeps the law nimble for a fast-paced and evolving industry.” Malay Kumar Shukla, secretary of the e-Gaming Federation, said the rules would play an important role in bringing transparency, ensuring safety of players, attracting investment, boosting investor confidence and creating job opportunities.
“We are grateful to the government for recognizing the long-standing need of the sector to bring in regulatory clarity by prioritizing and notifying rules,” Shukla said. The comprehensive guidelines regarding betting and wagering will protect players and the industry at large by separating legitimate skill gaming operators from illegal and unauthorized betting and gambling operators.