New Delhi: The government will notify the Online Gaming Act very quickly, a top government official said on Monday. The Promotion and Regulation of Online Gaming Act, 2025, passed by the Parliament on August 21, bars all forms of online money games while promoting e-sports and other online games.
"This is something which will come into effect very quickly and we are taking all necessary steps in that regard," Electronics and IT Secretary S Krishnan said on the sidelines of an ICEA event on semiconductors. The act has received the President's assent. The act will come into effect after it is notified by the government.
Last week, Banks and Fintech firms, in a joint meeting with the Department of Financial Services and the Ministry of Electronics and IT, have asked for detailed guidelines to implement the provision of the bill and a reasonable time for putting up system in place to check transactions for the online money games.
The Act seeks to prohibit advertisements related to online money games and bars banks and financial institutions from transferring funds for any of such games. Advertising of money games can attract imprisonment up to two years and/or a fine up to Rs 50 lakh. Facilitating financial transactions related to money games can lead to imprisonment for up to three years and/or a fine of up to Rs 1 crore.
Repeat offences attract enhanced penalties, including 3-5 years' imprisonment and fines up to Rs 2 crore. Meanwhile, major online money gaming players have complied with the government's move and voluntarily announced the shutdown of their money-based gaming services.
The challenge for the government, however, remains in checking foreign-based online money gaming and betting platforms. As per an estimate, 45 crore people in the country have lost around Rs 20,000 crore in a year after getting addicted to online money games.
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