RE: Bans on online gambling games industry in India
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So many people have lost their entire savings on gambling and family lives have been destroyed. So I personally believe it's a good decision.
Not just money or savings, in my state, at least 10 youth have committed suicide after getting engulfed with this gaming app.
One thing we need to understand is that betting and gaming apps are a zero-sum game, where it does not contribute to a win-win situation or capital formation. Here, the participants' money is pooled up and redistributed to a few on account of their luck and random numbers. But those who run this app always have a win-win case. The teenagers and individuals in their 20s are in a trap of this industry.
Thank god, finally the Govt has a brough this bill to discourage this tendency and regulate it.
It is sad when people give up their precious life for such things. Yes, in the end it's only those who run these apps benefits. Some people will profit momentarily and they will be tempted to play more because of that which will eventually lead to loss.