Why is it in the news?
- Recently, a famous Bollywood actor has been summoned by the Enforcement Directorate (ED) in connection with his endorsement of the online gaming and betting mobile application “Mahadev.”
- Refers to games played over computer networks, primarily the Internet.
- Includes online real money games, often associated with gambling.
- Regulation of online gaming falls under the purview of Indian states.
Online Gaming Industry in India
- Rapid growth compared to other entertainment sectors.
- CAGR of 38% between 2017-2020, outpacing China and the US.
- Expected mobile gaming revenue to exceed $1.5 billion in 2022, reaching $5 billion in 2025.
- India saw the fastest growth in new gaming users globally, 50% in 2021.
Pros of Online Gaming
- Economic benefits through revenue and job creation.
- Potential to attract global investments.
- Skill-based gaming aids early learning.
- Some individuals earn income through online gaming.
Cons of Online Gaming
- Lack of regulatory framework for player protection.
- Addiction leading to financial issues.
- Adverse health effects on children.
- Increased risk of suicides and crimes due to financial losses.
- Implement effective policies for responsible gaming.
- Learn from global best practices in gaming regulation.
- Foster dialogue between the government and the gaming industry to establish safety measures and operational standards.