Once India’s fastest growing digital entertainment area is now at an intersection. The Union Cabinet has approved the Online Gaming Bill, setting up a platform for a broad overhaul. It promise to promote for ESPORS, while Dream 11, Games 24×7, Winzo, and more, such as real-mani platform-India-India online gaming growth, legendary-oriented the crisis.
About Online Gaming Bill
The bill tries to regulate online gaming platforms and curb an increase in illegal betting activities. From cases of fraud associated with betting apps and celebrity promotion, the draft law aims to bring the entire location under a structured legal framework.
If passed, it will ban all money-based online games-based on skills or opportunity-advertise for such platforms, and block banks and financial institutions from processing transactions. According to the draft, violations may face up to three years in jail and fine. Big names like Dream11, Games24X7, Winzo, Gameskraft, 99Games, Khelofantasy, and My111Circle are directly among the affected people.
Effect on real-money gaming
India’s online gaming industry is currently worth $ 3.7 billion and is estimated to reach $ 9.1 billion by 2029, depending on the real-money game. About 86% of its current revenue comes from RMG formats. This Online Gaming Bill can erase the lifeline on which the sector had to rely to avoid collapse.
The industry estimates that the current business valuation is more than 2 lakh crores, Rs. 31,000 crore in annual revenue, and Rs. 20,000 crores in direct and indirect taxes. Growing at a 20% CAGR, it was on track when it doubled by 2028 – now a forecast under serious threat.
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