Chandrasekhar’s response comes after the union minister of railways, communications, electronics & IT, Ashwini Vaishnaw, informed the Lok Sabha recently that nine states and union territories have passed laws governing online gaming, but a centralised Act is required to regulate online gaming News rules 2023.
Earlier this week, Vaishnaw said: “We as very responsible lawmakers should reach a consensus and have a central Act which basically has been drafted in consultation with everybody and that central Act should be effectively regulating online gaming and gambling.”
As the government is now highlighting the requirement of a central law, Yugal Kishore Sharma, director of the Esports Federation of India, said that implementation of such regulation on apps like Teen Patti, Poker, Rummy, Fantasy, online gambling, or betting, etc. is a positive step forward.
The Phenomenon of New Regulations in the Online Gaming Domain The online gaming realm has witnessed a meteoric surge in its popularity, evolving into one of the most profitable industries globally. Nevertheless, with the swift growth of this sector, there has been a burgeoning apprehension regarding its impact on the players and society at large. To tackle these concerns, many nations have enforced stringent new regulations for the online gaming sector, aimed at safeguarding the players and ensuring the industry functions in a responsible and sustainable way. In this article, we shall delve into the ramifications of these new regulations on the online gaming industry and how they affect the players.
The Urgency for Control The rapid expansion of the online gaming sector has resulted in numerous governments worrying about its impact on players and society. In particular, there have been apprehensions regarding the addictive nature of certain games and the possibility of players incurring financial losses due to their gaming practices. To address these worries, many nations have imposed strict new regulations for the online gaming sector, with the objective of ensuring player protection and responsible and sustainable industry functioning.
The Scope of New Regulations The new regulations encompass a wide range of areas, including:
To confirm that the players are of a legally acceptable age for gaming, several nations have implemented age verification measures. These measures could include the need for players to furnish proof of age during their gaming account registration or the utilization of third-party verification services for age confirmation.
To protect players from excessive gaming, several nations have introduced responsible gaming measures. These measures could comprise the option for players to set limits on their gaming activities or the provision of support and resources for players grappling with addiction.
Protection of Player Funds:
To guard players from financial losses due to their gaming practices, several nations have enforced measures to protect player funds. These measures could include the use of secure payment methods or the mandate for gaming operators to keep player funds in segregated accounts.
Protection of Personal Data: To secure players’ personal information, several nations have implemented measures to protect personal data. These measures could include the obligation for gaming operators to enforce robust data protection measures or the provision of secure and encrypted communication between players and gaming operators.
Impact of New Regulations on the Industry
The enforcement of stringent new regulations for online gaming will have a profound impact on the industry. Some of the primary ways in which the industry will be affected are:
The implementation of the new regulations will necessitate gaming operators to invest in new systems and processes to ensure compliance, resulting in increased costs for gaming operators, which may be reflected in higher prices or reduced services for the players.
The new regulations may also hinder innovation within the industry, as gaming operators concentrate on complying with the new regulations rather than creating new and exciting games.
Reduced Player Options:
The new regulations may also lead to a decline in the number of gaming operators offering services, as smaller and less established operators may struggle to meet the requirements of the new regulations. This could result in reduced player choice, as players have limited options for gaming.
The imposition of stringent new regulations for online gaming is a critical step towards ensuring the responsible and sustainable functioning of the industry. Although the new regulations will have a significant impact on the industry, they will also help to protect the players from potential harm and secure the thriving future of the industry.