Latest news with #MoneyGames
Khaleej Times
5 hours ago
- Business
- Khaleej Times
'Addictive algorithms': India plans to ban online games played with money
India's government plans to ban online games played with money, a proposed bill showed on Tuesday, in what would be a heavy blow for an industry that has attracted billions of dollars of foreign investment. Citing psychological and financial harm it says can be caused by such games, the Promotion and Regulation of Online Gaming Bill 2025 says that no person "shall offer, aid, abet, induce or otherwise indulge or engage in" the offering of online money games and such services. The 13-page bill, which has not yet been made public but has been reviewed by Reuters, describes an online money game as one played by a user by depositing money in expectation of winning monetary and other enrichment. The Indian market for such gaming is set to be worth $3.6 billion by 2029, venture capital firm Lumikai says. Endorsements by top Indian cricketers and other marketing efforts have boosted appeal and investor interest of real money gaming apps such as the popular fantasy cricket games operated by startups Dream11 and Mobile Premier League. Dream11 commands a valuation of $8 billion while Mobile Premier League is valued at $2.5 billion, PitchBook data shows. The Indian government has long been concerned about how such games are addictive. India's IT ministry, which has drafted the bill, did not immediately respond to a request for comment. MPL and Dream11 declined to comment. In fantasy cricket games on Dream11, users create their teams by paying as little as 8 rupees (10 US cents), with a total prize pool of 1.2 million Indian rupees ($14,000). The apps become more popular during the Indian Premier League season, one of the world's most popular cricket tournaments. The bill states that anyone who offers such money games could face a jail term of up to three years and a fine. "Such games often use manipulative design features, addictive algorithms ... while promoting compulsive behaviour leading to financial ruin," the bill said.
CNA
5 hours ago
- Business
- CNA
India plans to ban online games played with money, citing addiction risks
NEW DELHI :India's government plans to ban online games played with money, a proposed bill showed on Tuesday, in what would be a heavy blow for an industry that has attracted billions of dollars of foreign investment. Citing psychological and financial harm it says can be caused by such games, the Promotion and Regulation of Online Gaming Bill 2025 says that no person "shall offer, aid, abet, induce or otherwise indulge or engage in" the offering of online money games and such services. The 13-page bill, which has not yet been made public but has been reviewed by Reuters, describes an online money game as one played by a user by depositing money in expectation of winning monetary and other enrichment. The Indian market for such gaming is set to be worth $3.6 billion by 2029, venture capital firm Lumikai says. Endorsements by top Indian cricketers and other marketing efforts have boosted appeal and investor interest of real money gaming apps such as the popular fantasy cricket games operated by startups Dream11 and Mobile Premier League. Dream11 commands a valuation of $8 billion while Mobile Premier League is valued at $2.5 billion, PitchBook data shows. The Indian government has long been concerned about how such games are addictive. India's IT ministry, which has drafted the bill, did not immediately respond to a request for comment. MPL and Dream11 declined to comment. In fantasy cricket games on Dream11, users create their teams by paying as little as 8 rupees (10 U.S. cents), with a total prize pool of 1.2 million Indian rupees ($14,000). The apps become more popular during the Indian Premier League season, one of the world's most popular cricket tournaments. The bill states that anyone who offers such money games could face a jail term of up to three years and a fine. "Such games often use manipulative design features, addictive algorithms ... while promoting compulsive behaviour leading to financial ruin," the bill said.
Yahoo
6 hours ago
- Business
- Yahoo
India plans to ban online games played with money, citing addiction risks
By Aftab Ahmed and Aditya Kalra NEW DELHI (Reuters) -India's government plans to ban online games played with money, a proposed bill showed on Tuesday, in what would be a heavy blow for an industry that has attracted billions of dollars of foreign investment. Citing psychological and financial harm it says can be caused by such games, the Promotion and Regulation of Online Gaming Bill 2025 says that no person "shall offer, aid, abet, induce or otherwise indulge or engage in" the offering of online money games and such services. The 13-page bill, which has not yet been made public but has been reviewed by Reuters, describes an online money game as one played by a user by depositing money in expectation of winning monetary and other enrichment. The Indian market for such gaming is set to be worth $3.6 billion by 2029, venture capital firm Lumikai says. Endorsements by top Indian cricketers and other marketing efforts have boosted appeal and investor interest of real money gaming apps such as the popular fantasy cricket games operated by startups Dream11 and Mobile Premier League. Dream11 commands a valuation of $8 billion while Mobile Premier League is valued at $2.5 billion, PitchBook data shows. The Indian government has long been concerned about how such games are addictive. India's IT ministry, which has drafted the bill, did not immediately respond to a request for comment. MPL and Dream11 declined to comment. In fantasy cricket games on Dream11, users create their teams by paying as little as 8 rupees (10 U.S. cents), with a total prize pool of 1.2 million Indian rupees ($14,000). The apps become more popular during the Indian Premier League season, one of the world's most popular cricket tournaments. The bill states that anyone who offers such money games could face a jail term of up to three years and a fine. "Such games often use manipulative design features, addictive algorithms ... while promoting compulsive behaviour leading to financial ruin," the bill said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
6 hours ago
- Business
- Reuters
India plans to ban online games played with money, citing addiction risks
NEW DELHI, Aug 19 (Reuters) - India's government plans to ban online games played with money, a proposed bill showed on Tuesday, in what would be a heavy blow for an industry that has attracted billions of dollars of foreign investment. Citing psychological and financial harm it says can be caused by such games, the Promotion and Regulation of Online Gaming Bill 2025 says that no person "shall offer, aid, abet, induce or otherwise indulge or engage in" the offering of online money games and such services. The 13-page bill, which has not yet been made public but has been reviewed by Reuters, describes an online money game as one played by a user by depositing money in expectation of winning monetary and other enrichment. The Indian market for such gaming is set to be worth $3.6 billion by 2029, venture capital firm Lumikai says. Endorsements by top Indian cricketers and other marketing efforts have boosted appeal and investor interest of real money gaming apps such as the popular fantasy cricket games operated by startups Dream11 and Mobile Premier League. Dream11 commands a valuation of $8 billion while Mobile Premier League is valued at $2.5 billion, PitchBook data shows. The Indian government has long been concerned about how such games are addictive. India's IT ministry, which has drafted the bill, did not immediately respond to a request for comment. MPL and Dream11 declined to comment. In fantasy cricket games on Dream11, users create their teams by paying as little as 8 rupees (10 U.S. cents), with a total prize pool of 1.2 million Indian rupees ($14,000). The apps become more popular during the Indian Premier League season, one of the world's most popular cricket tournaments. The bill states that anyone who offers such money games could face a jail term of up to three years and a fine. "Such games often use manipulative design features, addictive algorithms ... while promoting compulsive behaviour leading to financial ruin," the bill said.
Yahoo
07-02-2025
- Entertainment
- Yahoo
Malay Mail's Top 10 Picks: Malaysian Mandarin films ‘Money Games' and ‘Close Ur Kopitiam' dominate the local box-office as the CNY festivities continues
KUALA LUMPUR, Feb 7 — The Lunar New Year festivities are in full swing into the second weekend before the its curtains with Chap Goh Meh. And the celebrations can be felt at local cinemas which have been bustling with a surge of Mandarin and Cantonese films, with the local production, Money Games, leading the box-office followed closely by Close Ur Kopitiam in second. Singapore's I Want to Be Boss and China's Creation of the Gods II: Demon Force, adapted from the 16th-century fantasy novel Investiture of the Gods, are also screening in cinemas for an interesting mixed bag of goodies. If you'd rather look to unwind and stay away from the festive theme, don't worry, Malay Mail has got you covered with a compilation of the top 10 local and international films, streaming series, music, and books of the week. Top 10 films in local cinemas (Domestic & International) (January 30 to February 2) Money Games Close Ur Kopitiam Creation Of The Gods II: Demon Force I Want To Be Boss Detective Chinatown 1900 OMG! Mom's Big News Soloz: Game Of Life Queen Of Mahjong Hit N Fun My Best Bet Source: and GSC Top 10 streaming on Netflix and Viu (January 27 to February 2) Netflix (Top 10 TV) TV Series The Trauma Code: Heroes on Call: Season 1 SAKAMOTO DAYS: Season 1 BoBoiBoy Galaxy: Gentar: Gentar Squid Game: Season 2 The Night Agent: Season 2 Devil's Diner: Season 1 Single's Inferno: Season 4 Love Scout: Season 1 Ms. Rachel: Season 1 Metro Crime Series: Season 1 Source: Netflix Top 10 Viu (Top 10 shows) Study Group Gadis Masa The Tale of Lady Ok Running Man (2025) Family By Choice Guardians of the Dafeng Namib Di Hatiku Ada Kamu Only for Love Rented In Finland Source: Viu Frontpage Top 10 songs of the week (Spotify) (January 29 to February 5) Tenxi - Garam & Madu (Sakit Dadaku) (w/ Jemsi, Naykilla) yung kai - blue Lady Gaga - Die With A Smile (w/ Bruno Mars) Billie Eilish - BIRDS OF A FEATHER Billie Eilish - WILDFLOWER The Lantis - Bunga Maaf Andmesh - Anugerah Terindah ROSÉ - APT. (w/ Bruno Mars) ROSÉ - toxic till the end Ara Johari - Menjaga Jodoh Orang Lain Top 10 Malay songs of the week (Spotify) (January 29 to February 5) Tenxi - Garam & Madu (Sakit Dadaku) (w/ Jemsi, Naykilla) Noh Salleh - Rahsia Tuhan Insomniacks - Reminiscence The Lantis - Bunga Maaf Amir Masdi - Nurcinta Ara Johari - Menjaga Jodoh Orang Lain Black Hanifah - Hijab Rindu Andmesh - Anugerah Terindah Rio Clappy - Bunga Abadi Mimifly - Angkat Source: and Spotify Top 10 books of the week (January 24 to January 30) Fiction The Convenience Store by the Sea by Sonoko Machida (Orion) Onyx Storm (The Empyrean #3) by Rebecca Yarros (Red Tower Books) Days at the Morisaki Bookshop by Satoshi Yagisawa (HarperCollins) As Long as the Lemon Trees Grow by Zoulfa Katouh (Bloomsbury) Revenge in Violent Hues by Nadiah Zakaria (Bookiut) More Days at the Morisaki Bookshop by Satoshi Yagisawa (Harper Perennial US) Welcome to the Hyunam-Dong Bookshop by Hwang Bo-reum (Bloomsbury) Songs of the Runaway Heart by Marisa Fendi (Bookiut) Lyrics & You by Nuruljannah Usop (Manes Wordworks) The Vegetarian by Han Kang (Changbi Publishers) Non-Fiction Atomic Habits by James Clear (Penguin Books) I Want to Die but I Still Want to Eat Tteokbokki by Baek Sehee (Bloomsbury Publishing) How Was Your Day by Cheeming Boey (GREY PIGEON) Surrounded by Idiots by Thomas Erikson (?St. Martin's Essentials) Dr. Who?! by Dato' Lat (MPH Group Publishing) I'm Not Lazy I'm on Energy Saving Mode by Dancing Snail (Bonnier) Declutter your Mind by S. J. Scott, Barrie Davenport (CreateSpace) Stop OverThinking by Nick Trenton (AcePremier) I Decided to Live as Me by Kim Suhyun (Apop Books) The Siege Within by Leslie Lopez (Penguin Books) Mutiara Minda (Malay Novels) Yes! Captain Zul Aaryan by Wnfhanna (Idea Kreatif) Thariq Ridzuwan Commando's: His Treasure by Hudanajwa (Idea Kreatif) His Code Name: Alpha by Elyshakaman (idea kreatif) Mi Veneno 2 by Hudanajwa (Idea Kreatif) Mi Linda by Hudanajwa (Idea Kreatif) Lelaki Astatine by Anjell (KARYASENI) Mi Diosa by Hudanajwa (Idea Kreatif) Bayang Sofea by Teme Abdullah (Iman Publication) Ammar Zahrain: The Obsessive Husband by Nssignature (idea kreatif) Mr. Headhunter by Ariaseva (idea kreatif) Source: MPH
