By Aftab Ahmed and Aditya Kalra
New Delhi, – The Government of India planned to ban the online game played with money, a proposed bill showed on Tuesday, a huge setback for an industry that has attracted billions of dollars of foreign investment.
Citing psychological and financial losses, it says that such sports may be caused by the promotion and regulation of online gaming bill 2025, says that no person will offer “online money games and such services” in “offer, aid, motivated, or otherwise indulged or attached.
13-The bill, which has not yet been made public, but reviewed by Reuters, describes an online money game, as is played by a user by depositing money in the hope of winning monetary and other enrichment by a user.
For such gaming, the Indian market is scheduled to be $ 3.6 billion by 2029, saying Venture Capital firm Lumikai.
The support of top Indian cricketers and other marketing efforts has promoted the appeal and investor interest of real money gaming apps such as Startups Dream 11 and Mobile Premier League -run popular fantasy cricket games.
Dream11 evaluates $ 8 billion while Mobile Premier League is priced at $ 2.5 billion, pitchbook data show.
The Government of India has been worried for a long time how such sports are addictive.
The IT Ministry of India, which has drafted the bill, did not immediately respond to the request of the comment. MPL and Dream11 refused to comment.
In the fantasy cricket game on Dream11, the users form their team by paying a total of Rs 1.2 million with a total prize pool of Rs 8, less. The apps become more popular during the Indian Premier League season, one of the most popular cricket tournaments in the world.
The bill states that anyone who offers such a money game can face the duration and fine of up to three years.
Bill said, “Such sports often use manipulation design features, addictive algorithms … while promoting forced behavior to financial waste.”
This article was generated from an automated news agency feed without amending the text.
