The regulator will be responsible for verifying the content of the games. They can’t offer any content that could violate the \u201csovereignty and integrity of India.\u201d This covers, among other topics, violent, addictive, or sexual content<\/p>\n
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The MeitY is now accepting input on the draft rules, and the final proposals could look different. It\u2019s possible, according to Chandrasekhar, that there could be multiple self-regulators, depending on what type of feedback the government receives.<\/p>\n<\/div>\n
Although changes are likely, certain aspects will definitely figure into the rules. Know-your-customer procedures and verifiable sources of funds are going to be at the core of the regulations. The Reserve Bank of India, the country\u2019s central bank, will play a significant role in those processes.<\/p>\n
Online Gaming Holds Promise<\/h2>\n
The online gambling industry in India could generate INR413.22 billion (US$5 billion) in revenue by 2025. This is according to a report by Venture capital firm Sequoia and management consulting company BCG. The industry grew 38% between 2017 and 2020, according to government figures. The same findings showed the growth rate was 8% in China and 10% in the US.<\/p>\n
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Sequoia and BCG anticipate a compound annual growth rate of 15% through 2024. That would allow it to reach INR153 billion (US$1.85 billion).<\/p>\n<\/div>\n
The gaming industry has welcomed the news, recognizing that it means greater stability and opportunities for growth. With different Indian states developing their own stance on gambling, a uniform, nationwide approach would eradicate the fractured landscape<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"India continues to have difficulty deciding what is and isn\u2019t gambling. But it’s reportedly ready to embrace the future. This past Monday, following months of discussion, the Ministry of Electronics and IT (MeitY) announced that there is now draft legislation available for review that could lead to online gambling taking hold across the country. Mandatory […]<\/p>\n","protected":false},"author":64,"featured_media":251532,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,13],"tags":[81913,82744,83353],"acf":[],"yoast_head":"\n
India Establishes Online Gaming Regulations, Resistance Remains - Casino.org<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n