The law’s goals are to keep a watch on online gambling sites that enable people play for real money, punish people who gamble illegally, and stop famous people from promoting these kinds of apps.
The Union Cabinet has approved a new law that would affect online gaming companies that use real money. The Press Trust of India (PTI) and other news sites say that Parliament would probably talk about the measure on Wednesday.
The most important parts of the bill are:
These are the guidelines you must follow when you play real-money games online: The law’s goal is to set up a formal regulating body, maybe under the Ministry of Electronics and Information Technology (MeitY), to keep a watch on the business.
The rule will make it illegal for people and platforms to bet online, and those who do will face harsh penalties.
No endorsements: One of the main parts of the law is that it would make it illegal for celebrities and media companies to promote illegal online betting services.
The government says the new rule is a response to rising worries about addiction, fraud, and the use of unregulated platforms for illegal activities like money laundering.
The government is doing this to make the area easier to understand and run. As of October 2023, internet gaming is taxed at 28%, and starting in the 2024–25 financial year, winnings are taxed at 30%. The authorities has also been working hard to shut down hundreds of illicit gambling and gaming sites that are headquartered outside of the country.
People think that the bill’s introduction is a very important step toward resolving the “regulatory gray zone” that has been caused by state laws and court decisions that don’t agree with one other. Officials think that one law is needed to deal with a problem that affects people in many states and countries and puts national security, social stability, and financial stability at risk.