The Lok Sabha on Wednesday passed a draft law— Promotion and Regulation of Online Gaming Bill— aimed at curbing rising rising instances of addiction, money laundering, and financial frauds.
The bill, which was introduced in the Parliament earlier in the day, was passed in the lower house by voice vote after brief remarks by Minister of Electronics and Information Technology Ashwini Vaishnaw amid a protest by the opposition.
Soon after the passing of the draft law, the house was adjourned for the day amid disruption by the opposition over several demands.
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The draft legislation also seeks to prohibit advertisement related to online money games as well as bars banks and financial institutions from facilitating or transferring funds for any of such games.
The bill outlaws all online betting and gambling activities -- from online fantasy sports to online gambling (like Poker, Rummy and other Card games) and online lotteries, according to PTI. The move is set to give a blow to the country's $3.8 billion gaming industry that has drawn the attention of global investors and fostered fantasy sports apps like Dream11, Games24X7 and Mobile Premier League.
The bill makes the online money gaming a punishable offence, which includes an imprisonment of up to three years and/or a fine of up to ₹1 crore. It also includes a provision where repeated offences could attract 3-5 years' imprisonment and fines up to ₹2 crore.
The proposed legislation also recommends a regulator for e-sports, educational platforms, and social games.