Online games that collect money and involve betting or betting will be subject to the new rules. (Representational Image: Twitter/File)
Union Minister of State for Electronics and IT Rajeev Chandrasekhar said the new guidelines were aimed at addressing issues arising from the proliferation of online gambling and betting services across India.
The Ministry of Electronics and IT has notified the final amendments to the IT Rules, 2021 for Online Gaming to protect the safety and security of ‘Digital Citizens’.
“Online gaming is definitely a huge opportunity for India and young Indians. We see the Indian online gaming ecosystem expanding and growing into a multi-billion dollar industry and India’s $1-trillion digital economy by 2025-26 can become an important catalyst for the goal, which has clear restrictions on online betting and betting,” said Union Minister of State for Electronics and IT Rajeev Chandrasekhar.
The minister said the new guidelines were aimed at addressing issues arising from the proliferation of online gambling and betting services across the country. He said the guidelines have been made to ensure that India’s internet is open and secure as well as trustworthy and accountable.
While internet gaming created a significant opportunity for start-ups, Chandrasekhar said there was some skepticism about what was legal, which the new guidelines aimed to dispel. He added that online games that collect money and involve betting or betting will be subject to the new online gaming regulations.
Therefore, the new rules will include a framework for multiple self-regulatory entities (SROs). There will be multiple SROs, and all stakeholders including industry will participate in these SROs. It was also stated that private companies have provided SRO models, which will be discussed with them. The SRO will be notified by the government and will be a self-contained entity.
“We are starting with three SROs. If more are required, we will get it,” Chandrasekhar said.
The SRO would assess whether or not all online games were permitted, based on the principles of whether betting was involved or not. However, apart from SRO, the government has also made KYC (Know Your Customer) verification mandatory for online gaming.
All India Gaming Federation CEO Roland Landers lauded the government’s decision and said it is a decisive first step towards comprehensive regulation of online gaming and will push the industry to compete globally.
He added, “These regulations will go a long way in promoting consumer interest while helping the industry grow responsibly and transparently and will also help curb the menace of anti-national and illegal offshore gambling sites, which have been rampant in the past. growing exponentially over the years.” ,
He added: “We look forward to assisting the industry transition to the self-regulatory model envisaged under the regulations and use learnings from years of work done at the All India Skilled Sports Council (AIGSC), the oldest and most Large voluntary. Self-regulatory body for online gaming.”
read all Latest Tech News Here
