
Victor Dasgupta
Victor Dasgupta is an Assistant News Editor at India.com, where he tracks major developments across national politics, education, world affairs, business, and current events. He specializes in simplif ... Read More
New Delhi: The Lok Sabha on Wednesday passed a bill to ban the operating, facilitating and advertising of online games played with money, with a view to checking rising instances of addiction, money laundering and financial fraud. IT Minister Ashwini Vaishnaw said that online money gaming has become a serious social and public health issue, causing demonstrable negative impact on society.
Once the legislation is passed by both Houses of Parliament, offering or facilitating online money gaming will be punishable by imprisonment of up to 3 years and/or a fine of up to Rs 1 crore. It is important to note that the bill also seeks to prohibit advertisement related to online money games and bars banks and financial institutions from transferring funds for any of such games.
Advertising of money games can attract imprisonment up to two years and/or fine up to Rs 50 lakh. Facilitating financial transactions related to money games can lead to imprisonment up to three years and/or fine up to Rs 1 crore. However, not every online game is going to be affected by the bill.
NODWIN Gaming Co-Founder and MD Akshat Rathee said the government’s intent to recognise and promote esports is an encouraging step towards building a structured and globally competitive ecosystem.
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