Indian Government is bringing a bill to ban online gaming claiming that people are getting addicted to it andlosing money. Online Gaming in India is around 27000 Crore business which is actually a huge business. But betting app is always a loss for the individual. People claim its a zero sum game but in long run you will always be the loser.
PC: Pixabay.com
The ban is mainly in place so that people don't lose their money in online betting app. It includes the famous Dream11 also. Dream11 is a gaming site where you can pay some amount and bet on the team. And thus if you lose you will lose, if you win you will get some amount. The government used to get a lot of money from this sites as GST.
But eventually people have started losing more and the comapnaies were getting profit and thus this bill came to ban the whole industry itself. I was reading reddit and it came that a lot of small companies were started doing layoff because of this ban. So that means the government have removed a huge business.
I know they might have done it for the peoplesoney, but I feel it should be regulated first rather than the full ban. The tax could have been increased, more survalinece and what not. But government chose to take a big step and do a complete ban on the industry. This bill actually applies to games of chance, games of skill, and those games which combines both of these. Along with that advertising and promotion of such games is strictly prohibited.
To be noted here is thar only the gaming which involves real money is been banned. This is a very good chance to move the online gaming to crypto. You can use your crypto to play games.
