online gaming regulations: Government plans complete oversight of all real-money online games: sources
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The government's planned regulation of online gaming will apply to all real-money games. Research firm Redseeer estimates the gaming sector in India will be worth $7 billion by 2026. Tiger Global and Sequoia Capital have in recent years backed Indian startups Dream11 and Mobile Premier League.
PM's office overruled a proposal to only regulate games of skill and leave out games that involve chance. The PM's official called for expanded oversight on all types of games. Research firm Redseeer estimates India's gaming sector will be worth $7 billion by 2026. Tiger Global and Sequoia Capital have in recent years backed Indian startups Dream11 and Mobile Premier League.
The government is drafting new rules on online gaming. It wants to give the federal administration broader oversight on all types of games. There are concerns about addiction and financial losses. The rules will include periodic warnings and advisories and fixing deposit and withdrawal limits. The report recommended this. India's Supreme Court says the card game rummy and certain fantasy games are skill-based and legal, while different state courts have held different views about games such as poker.
