Governments should regulate, not ban online gambling: industry body
State governments should introduce proprietary policies to regulate online gambling instead of resorting to a blanket ban, as such bans will only boost illegal gambling activity in the country, warned The Online Rami Federation (TORF). .
The gaming industry firmly believed that certain controls were imperative, especially in terms of identifying and eliminating illegal and unscrupulous gamers, he said.
“However, a total gambling ban will only help bad operators who promote underground and illegal gambling activities,” said Sameer Barde, CEO of TORF.
Despite the ban, Telangana reported a massive illegal online gambling racket, worth over 1,200 crore, run by a Chinese company and similar incidents were possible anywhere, further underscoring the need appropriate regulatory frameworks, he added.
Recall that Tamil Nadu, Andhra Pradesh, Telangana and Kerala have banned online rummy, although the game has already been identified as a “game of skill” (Chess, Rummy, Bridge, Carrom, Horse Racing , Billiards and Billiards) and not a “ game of chance ” (teen patti flush (poker), roulette, slots or baccarat (casino games) and therefore declared legal by the Supreme Court.
“We, the industry, want to partner with the government to introduce the right mechanism, based on the principles of responsible gaming. To begin with, state governments should come up with effective, forward-looking online skill gambling policies, ” Barde insisted.
When asked if Karnataka, a progressive state that has always supported the sunrise industries, would introduce an exclusive policy framework for online gaming, Chief Deputy Minister Ashwath Narayan replied: “We have already a Karnataka animation, visual effects, games and comics policy (KAVGC). We are committed to supporting games and technologies that have a sacred character. ”
According to tech lawyer Jay Sayta, what’s going on in the gaming space right now is typical of any fledgling industry, where laws haven’t kept up with technological advancements. “ We have already seen this in e-commerce, urban mobility and food delivery. As an industry matures, there is creative destruction and consolidation, and what is needed is regulation, not a ban. ”
Commenting on the business potential of the online gaming industry, Dinker Vashisht, Vice President, Games 24×7, said, “Online gaming is a booming industry. With the right support and regulatory clarity, the industry can propel a second software revolution in India, creating wealth and jobs for millions of people. ”
India’s online gaming industry, led by players like Dream 11, Games 24×7, MPL and PaytmOne, is expected to reach $ 3 billion by 2022. Over the past five years, the industry has attracted over $ 350 million. dollars of venture capital investments from Tiger Global, Sequoia, Raine, Tencent, Kalaari, Chryscapital, Matrix.