Citing instances of gambling addiction, money laundering and financial frauds, the Lok Sabha on Wednesday passed the online gaming bill to ban real money online games. The Promotion and Regulation of Online Gaming Bill was also passed after a voice vote in the Rajya Sabha, a day after it was cleared in the Lok Sabha. The Bill essentially bans online gaming apps that require users to pay money to win cash.
The legislation seeks to make online money gaming punishable by imprisonment of up to 3 years and/or a fine of up to Rs 1 crore. It 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. Repeat offences attract enhanced penalties, including three to five years' imprisonment and fines up to Rs 2 crore.
The move affects India’s $3.8 billion gaming industry, which has drawn global investors and fostered many fantasy sports apps.
Tabling the bill in the Upper House, Minister of Electronics and Information Technology Ashwini Vaishnaw said, " The money-gaming addiction is like drug addiction. The powerful people behind online money games will challenge the decision in courts. They will run social media campaigns against this ban. We have seen the impact of games and how the money is used to support terror."
During the session, Leader of Opposition Mallikarjun Kharge complained about the absence of a discussion even as Union Minister Kiren Rijiju questioned the possibility of holding such a debate amid the Opposition's continuous protests.
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