Page 8 - Online Gaming

Online gaming unicorn MPL forays into Africa, launches its app in Nigeria

MPL, which became a unicorn in 2021, has partnered with Africa's gaming publisher Carry1st to launch in the continent

Karnataka HC quashes Rs 21,000 crore show cause notice against Gameskraft

It was the biggest tax demand notice issued in the history of indirect taxes in India

Indians will spend more on online gaming than on films by 2025: EY-Ficci

Sector is growing at twice the pace of filmed entertainment, study shows

Centre likely to seek different taxation policy for games of skill, chance

The finance ministry will present its view when the GST Council discusses the report of a Group of Ministers (GoM) on online gaming, sources said

Madras HC to hear gaming companies' appeal against ban order on April 27

The Tamil Nadu Legislative Assembly twice passed the Bill to prohibit online gaming. After it was passed a second time, Governor R.N. Ravi gave his assent

Centre's online games rules very clear, no ambiguity: ASG Venkataraman

Putting money on uncertain events amounts to wagering and the government's new rules bar online real money games that declare winners based on prediction of the unknown outcome, according to Additional Solicitor General N Venkataraman. Amid attempts by certain industry players to masquerade wagering as a game of skills in the wake of the new rules issued under the Information Technology (IT) Act, the government's senior law officer said that some states are making a mistake in trying to distinguish between a game of skill and a game of chance in the context of wagering. He also emphasised that the rules should be tested on the basis of the country's Constitution, statutory provisions and Supreme Court judgements. "The new rules notified by the Centre is very clear. There is no ambiguity. Our courts have held that wagering is illegal, and any business predicated on wagering is res extra commercium that is a thing outside commerce. Such businesses cannot be carried on in India," ...

TN releases new rules for online gaming, encourages company registration

The Tamil Nadu government on Monday released new regulations regarding online gaming

Online gaming firms criticise Google for commission in alternative billing

Play Store allows alternate billing systems but service fees defeats purpose of fair play, they say

Revenue from Indian fantasy sports to top Rs 25,000 cr by FY27: Report

With over 300 fantasy sports platforms and about 180 million users, India is the world's fastest-growing fantasy sports market

Wagering barred in all forms games, be it game of skill or chance: MoS IT

Online gaming rules do not need to get into the nuances of chance or skills as wagering is barred in all forms of games irrespective of the nature of the game, Union Minister Rajeev Chandrasekhar said in a tweet on Thursday. The minister of state for electronics and IT was responding to an editorial, which said that the online gaming rules avoid dealing with nuances of games of chance versus games of skill. Chandrasekhar said that wager is a well-defined expression in contract law, and decisions have clearly held the meaning of wager. "There is no need in this framework to get into "nuances" of chance or skill, bcz the harm of wagering is directly being prohibited - regardless of the nature of the game," the minister tweeted. The Centre had last week notified norms to regulate the online gaming sector, wherein real money games involving wagering or betting have been prohibited. "The ITRules for OnlineGaming hv been developed after extensive consultation, are quite clear n deal wth

Rules of the game

Online gaming regulations need clarity

TMS Ep408: Space policy, online gaming, large-cap stocks, convertible note

Is India giving more 'space' to private players? Is more red tape being added to online gaming? Should you stick to safety of large-caps for now? What is a convertible note? All answers here

TN notifies ban on online gaming; carries a fine of Rs 5,000, 3-month jail

This comes a day after the Bill passed by the Legislative Assembly was given the go ahead by the state Governor, R.N. Ravi

Govt notifies gaming rules to prohibit online wagering and betting

The final version of the rules has provided a three-month window for the body to complete the inquiry on whether a game should be permissible or not

Government releases new rules for online gaming, prohibits betting

The government on Thursday released new rules for online gaming which prohibit any game that involves betting and wagering, and entail a framework of multiple self-regulatory organisations (SROs). Online games involved in wagering or betting will fall foul of new online gaming rules, Minister of State for IT Rajeev Chandrasekhar told reporters here. There will be multiple SROs, and these SROs will have participation from all the stakeholders including but not limited to the industry. "We are dealing with a framework which allows for all online gaming to be determined as permissible or not, by an SRO and there will be multiple SROs," Chandrasekhar said. Permissibility will be determined with the simple principle of whether wagering is involved and "if wagering is involved, the SRO will be in a position to say that those online games are not permissible.

Fantasy gaming revenue to go up 25-30% during ongoing IPL: Redseer report

Transacting users in this IPL is expected to grow by 25-30 per cent, with 60-65 per cent of them coming from tier-II cities and beyond

Centre's grievance appellate committee to hear pleas against gaming SRBs

WATCHER BEING WATCHED: Risk of capture of self-regulatory bodies flagged

Online gaming: Banker charge-sheeted by CBI for embezzling Rs 55 crore

The CBI has charge-sheeted a bank officer and his accomplice whose rapacious appetite for online gaming lured them to allegedly embezzle more than Rs 55 crore from various accounts, a major chunk of which was funnelled to virtual betting tables, officials said on Monday. In what transpired to be a tale of avarice and subterfuge, the CBI alleged that accused officer Bedanshu Shekhar Mishra and his accomplice Shailesh Kumar Jaiswal committed forgery in Punjab & Sind Bank, where Mishra was employed, to channel funds from various bank accounts into various betting games online, they said. Mishra was posted at the North Campus branch of Punjab & Sind Bank at Khalsa College of Delhi University since June 28, 2021. In a statement during bank enquiry, Mishra admitted to having used banking IDs of colleagues to make illegal transfers for online gaming purpose, the officials said. In the CBI's scrutiny, Mishra was found to have "illegally and without any authority" encashed 32 fix ...

STT hike to GST appellate tribunal: Key takeaways from Finance Bill 2023

Finance Bill 2023: Debt funds with less than or equal to 35 per cent invested in equity shares will be taxed at the investors' income tax slab and treated as short-term capital gains

Paid competitive gaming growing 6x faster than overall mobile gaming: RPT

A report on Friday showed added that consumer spending on games has gone up by around 40 per cent in the last three years