Why is gambling becoming a worry for India Inc?

gambling becoming
Gambling Becoming

Real Money Games (RMGs) are games in which the players play for a wager. gambling becoming These games make up around 80% of India’s online gaming industry. According to a report by Economic Times, Indian gamers have spent approximately USD 1.73 billion in online sports betting during the year 2021. The experts have drawn concern as the lines between gaming and gambling are becoming a blur. Many critics believe that the RMGs are equivalent to gambling as users are betting money against the happening or non-happening of an event which is not in their control. However, the All India Gaming Federation (AIGF), the self-proclaimed apex body for online skill gaming has argued that there is an element of skill that outweighs the element of chance in these games. Many further argue that even trading in stock markets is a form of betting or a game of chance, if online gaming were being discussed as gambling. The industry is currently unregulated. While the internet is covered under the union list whereby Central Government can make laws, gambling laws are covered under the state list and the states are empowered to regulate the same. Thus, consensus between the central and state government is imperative for policy formulation. Many studies have claimed that online gaming involving wager has driven people into gambling. With no laws in place, the issue seems to be going out of control, in near time.

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