State governments should introduce proprietary policies to regulate online gambling instead of resorting to blanket bans, as such measures would only boost illegal gambling activity in the country, the Online Rummy Federation said ( TORF).
The gaming industry strongly believed that certain controls were imperative, especially in terms of identifying and eliminating illegal and unscrupulous gamers, TORF said.
“However, a total gambling ban will only help bad operators who promote underground and illegal gambling activities,” said Sameer Barde, CEO of TORF.
Despite the ban, Telangana reported a massive illegal online gambling racket, worth over 1,200 crore, run by a Chinese company. Similar incidents were possible anywhere, further underscoring the need for appropriate regulatory frameworks, he added.
It can be noted that Tamil Nadu, Andhra Pradesh, Telangana and Kerala had banned online rummy.
“We, the industry, want to partner with the government to introduce the right mechanism, based on the principles of responsible gaming. For starters, state governments should come up with effective and forward-looking online skill gambling policies, ” Barde said.
When asked if Karnataka would introduce an exclusive policy framework for online games, Deputy Chief Minister Ashwath Narayan said: “We already have Karnataka policy on animation, visual effects, gaming. and comics (KAVGC). We are committed to supporting games and technologies that have a sacred character. “
According to tech lawyer Jay Sayta, what’s going on in the gaming space right now is typical of any early-stage industry, where laws have not kept up with technological advancements. “We have already seen it in e-commerce, urban mobility and food delivery. As an industry matures, there is creative destruction and consolidation, and what is needed is regulation, not a ban. “
Commenting on the commercial potential of the online gaming industry, Dinker Vashisht, vice president of Games 24×7, said, “Online gaming is a booming industry. With the right support and regulatory clarity, the industry can propel a second software revolution in India, creating wealth and jobs for millions of people. “
India’s online gaming industry, led by players like Dream 11, Games 24×7, MPL and PaytmOne, is expected to reach $ 3 billion by 2022. Over the past five years, the industry has attracted over $ 350 million. dollars of venture capital investments from Tiger Global, Sequoia, Raine, Tencent, Kalaari, Chryscapital, Matrix.