Latest news with #AllIndiaGamingFederation
NDTV
an hour ago
- Business
- NDTV
I Am A Gamer. Does The Ban On Gaming Apps Affect Me?
Union Minister Ashwini Vaishnaw introduced the Promotion and Regulation of Online Gaming Bill, 2025, in Lok Sabha on Wednesday. The bill on online gaming apps involving real money is not a law yet. When it becomes a law, the user's money could be stuck with the payment aggregator platform. Here is what the user needs to know: IMPACT ON $3.8 BILLION GAMING INDUSTRY The Govt's move to declare online gaming that involves real money will impact India's $3.8 billion gaming industry. The real-money gaming sector, reportedly accounts for approximately 86 percent It no longer makes a distinction between skill and gambling. Under the bill gaming apps that require users to pay money to win cash will be banned. According to All India Gaming Federation (AIGF), the E-Gaming Federation (EGF), and the Federation of Indian Fantasy Sports (FIFS), the industry has attracted Foreign Direct Investment (FDI) of over ₹25,000 crore till June 2022 and currently supports over two lakh direct and indirect jobs. WHICH ARE THESE GAMING PLATFORMS? Dream 11, Howzat-Fantasy Cricket App, SG11, WinZo, Games24- My11Circle, RummyCircle, 7. Junglee Games (Junglee Rummy, Junglee Poker), PokerBaazi, GamesKraft, MyTeam11, Nazara Technologies and many others WHY IS THE GOVT BANNING RMG APPS? The Bill says unchecked expansion of online money gaming services has been linked to 'unlawful activities including financial fraud, money-laundering, tax evasion, and in some cases, the financing of terrorism, thereby posing threats to national security, public order and the integrity of the State WHAT ARE THE PENALTIES? Anyone offering a RMG platform will be imprisoned for up to 3 years and penalised 1Cr INR Those promoting such platforms, such as social media influencers, will also face jail time of two years, and a penalty of Rs 50 lakh. The government will prohibit banks and financial institutions from facilitating financial transactions on such platforms. IMPACT ON USERS Till the time this becomes a law the users are not impacted. Once it becomes a law if payments have been done to aggregator platforms for gaming, could be stuck. None of the payment aggregators have promised to return money
India Today
6 hours ago
- Business
- India Today
Game over? Government tables bill to ban online real money gaming
The government has introduced the Promotion and Regulation of Online Gaming Bill 2025 in the Lok Sabha, aiming to prohibit online games involving cash transactions and betting. Tabled by Union IT Minister Ashwini Vaishnav, the proposed law would ban all cash-based transactions for online betting and block banks from processing such funds. In response, the All India Gaming Federation has urged for regulation instead of a ban, cautioning that such a move could damage the industry, push players towards illegal platforms, and lead to job losses.
Deccan Herald
10 hours ago
- Business
- Deccan Herald
OTT players, broadcasters could lose Rs 2,000 crore annually
Dream11, My11Circle, WinZo and Games 24x7 are major RMG platforms, and already industry bodies, including the All India Gaming Federation (AIGF), have opposed the ban.
New Indian Express
14 hours ago
- Business
- New Indian Express
Indian gaming industry bodies plead govt to halt proposed gaming ban
NEW DELHI: The online gaming industry has appealed to the government not to impose a blanket ban on all real money games. In a letter written to Home Minister Amit Shah, a coalition of India's leading online gaming industry associations and representatives have sounded the alarm over the draft bill that seeks to ban all real money games, including those based on skill. All India Gaming Federation (AIGF), the E-Gaming Federation (EGF), and the Federation of India Fantasy Sports (FIFS) have collectively urged the minister to intervene, arguing that the proposed legislation would "strike a death knell" for the legitimate industry and cause "serious harm" to Indian users. The federations argued that the online skill gaming sector is a "sunrise sector" and a key pillar of the Prime Minister's vision for a $1 trillion digital economy. The letter highlights the industry's substantial economic contributions, including an enterprise valuation of over Rs 2 lakh crores, annual revenue of over Rs 31,000 crores, and tax contributions exceeding Rs 20,000 crores. The industry also supports over 2 lakh direct and indirect jobs and has attracted foreign direct investment (FDI) of over 25,000 crores.
Mint
14 hours ago
- Business
- Mint
Gaming bodies urge Amit Shah to intervene against proposed ban on real money games
New Delhi, Aug 19 (PTI) Industry bodies representing India's online skill-gaming sector have written to Union Home Minister Amit Shah, seeking his "urgent intervention" against a reported draft Bill that proposes to ban all real-money games, including those based on skill. In a joint letter, the federations warned that such a blanket prohibition would be a "death knell" for the industry, destroying jobs and pushing crores of users towards illegal offshore betting and gambling platforms. The letter, dated August 19, was sent on behalf of the All India Gaming Federation (AIGF), the E-Gaming Federation (EGF), and the Federation of Indian Fantasy Sports (FIFS). The letter stated that the online skill gaming industry is a "sunrise sector" with an enterprise valuation of over ₹ 2 lakh crore and annual revenue exceeding ₹ 31,000 crore. It contributes over ₹ 20,000 crore in direct and indirect taxes annually and is projected to grow at a 20 per cent compound annual growth rate (CAGR), doubling by 2028. The total number of Indian online gamers grew from 36 crore in 2020 to over 50 crore in 2024, it noted, adding that the industry has attracted Foreign Direct Investment (FDI) of over ₹ 25,000 crore till June 2022 and currently supports over two lakh direct and indirect jobs. "Such a blanket prohibition would strike a death knell for this legitimate, job-creating industry, and would cause serious harm to Indian users and citizens. 'This Bill, if passed, will cause serious harm to Indian users and citizens. By shutting down regulated and responsible Indian platforms, it will drive crores of players into the hands of illegal matka networks, offshore gambling websites, and fly-by-night operators who operate without any safeguards, consumer protections, or taxation,' the industry bodies said. The industry bodies asserted that a ban would also deter global investment and investor sentiment, result in over 400 companies shutting down, and weaken India's position as a digital innovator. The letter cautioned that instead of protecting people, the Bill risks exposing them to "fraud, exploitation, and unsafe practices," which may end up helping illegal offshore operators. 'Our sector represents not just entertainment, but the creation of an indigenous, future-ready industry at the intersection of emerging technology, creativity, and entrepreneurship. Today, thousands of startups, young engineers, and content creators rely on this ecosystem. 'The only beneficiary of this bill will be the illegal offshore gambling operators. If legitimate Indian businesses are shut down, unregulated actors will fill the vacuum. This will erode state and national tax revenues while leaving Indian users exposed to unregulated platforms,' it added. Arguing for "progressive regulation and not prohibition," the bodies requested a meeting with the minister to present their case and discuss solutions that would ensure responsible gaming while protecting users and the industry. The letter was signed by Roland Landers, Chief Executive Officer of AIGF; Joy Bhattacharjya, Director General of FIFS; and Anuraag Saxena, Chief Executive Officer of EGF.
