Online Gaming Bill gets President’s approval, now betting will be banned!

New Delhi: From today, clouds of crisis have loomed over big apps like Dream 11, MPL, Bingo. The Online Gaming Promotion and Regulation Bill passed by both the houses of Parliament, Lok Sabha and Rajya Sabha, has now got the President’s approval as well. With this, the way has now been cleared to lock down fantasy gaming apps.

With the President’s approval, it has now become a law and its provisions have come into force. After the implementation of this law, fantasy leagues, card games, online lottery, poker, rummy and betting have been completely banned. It is worth noting that the Promotion and Regulation of Online Gaming Bill was passed by the Lok Sabha on 20 August and Rajya Sabha on 21 August.

This bill was introduced in both the houses by IT Minister Ashwini Vaishnav. The introduction of this law has dealt a big blow to the country’s online gaming industry. Fantasy gaming apps like Dream 11 and My Eleven Circle have banned real money games on their platforms. The online gaming industry in the country is estimated to be worth $3.8 billion. The new law has put the future of this industry in danger.

It is worth noting that while presenting this bill in Parliament, IT Minister Ashwini Vaishnav had said that there are three segments of online gaming. He had said that the government will promote two segments, real money gaming will be banned. The IT Minister had described real money gaming as a big challenge for the society.

He had said that when the government has to choose between society and revenue, the government has always given priority to the society and in this bill too we have chosen the society. Ashwini Vaishnav had also quoted media reports related to suicide figures in Karnataka.