Under the rules, the SROs (three SROs will be notified initially) have to publish a framework to protect users from the risk of gaming addiction.
New rules for online gaming will spur innovation, boost investor confidence and eliminate platform gambling, making the sector globally competitive, the industry said on Thursday.
ministry of electronics and information technology (MeitY) recently introduced new regulations for online gaming in India, which is a “watershed moment” for the industry. Under these regulations, all online games, whether involving real money or not, will now be subject to greater scrutiny to eliminate betting or any games involving stakes.
However, despite the importance of these new rules, there is still some confusion as to how they will be implemented and what they will mean for individual players and gaming platforms. Here, we explain all the changes and real world changes in simple terms.
What are online games?
Until now, the definition of what is an online game in India has been hazy. Now, according to the new rules, an online game is “a game that is offered on the Internet and accessed by a user through a computer resource or intermediary.”
Which sports are banned under the new rules?
All online gaming that includes elements of betting and betting is banned under the new rules. MoS IT Rajeev Chandrasekhar said, “We are only regulating real money games that involve betting. By a process of exclusion, all other types of games will be allowed.” Additionally, Chandrasekhar emphasized that online real money games could be permitted by SROs if they determine that the games do not involve betting on any outcome.
“These regulations will go a long way in promoting consumer interest while helping the industry grow responsibly and transparently and will also help curb the menace of anti-national and illegal offshore gambling sites,” Chandrasekhar said. ,
Be prepared for mandatory KYC
Under the new rules, all online games will need to comply with KYC norms and individuals will have to follow the KYC process – enhancing security and reducing the occurrence of fraudulent exchanges.
Gamers acknowledge real world influences
The clear distinction between video games and gambling is one of the most obvious benefits of the newly announced regulations. “Good to know that the government has finally decided that video games are not gambling,” said noted analyst and gamer, Rishi Alwani. “Hopefully the best is yet to come,” he added. Until recently, both online video games and online real money games were considered the same – representing a blurred definition.
Video games and real money games are not the same
The recent clarification that video games of skill and real money games are not the same has provided much needed clarity to gamers and freed them from the taboo associated with real money games. And, will likely inspire more individuals to pursue a career in gaming.
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