Bans on online gambling games industry in India
I think it is one of the best things that have happened lately. A bill was passed in the Indian parliament banning online gaming, which has gambling involved in it. The figures show that almost 2.3 billion dollars these gambling companies have profited from the business. Phewwww.....that's a huge market and at the same time so many people must have lost their valuable money. Gambling is addictive and once a person starts it is difficult to stop. 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.
Cards and Cricket are two very famous online gambling games as far as I am aware of, and I also see their ads promotion on social media platforms, especially cricket, people are crazy for this game. When there is a match also there is so much gambling that happens. It's a huge market with maximum people losing their fortunes and a few handling making millions.
This ban will regulate the online gaming industry, with some strict KYC rules and restricting under age players, which is a very good step towards protecting minors from getting into these traps. But people who are addicted to playing, may find loopholes in it and still continue playing, and no one can do anything much about it. Here the parents have to be vigilant, it is their responsibility. These gaming platforms will also need government approvals to operate legally and there will be tax in effect on the income of these games. Hopefully if everything is done in a fair manner, without any corruption involved then it will be very good.
I am not against online gaming, but there is a difference between gambling and gaming. And I also believe games should be played as games only, which is for entertainment purpose and money should not be involved in it. It should be responsible gaming and not addictive gaming.
Besides Smoking and Drinking, Gambling is also one of the most destructive addictions. With these new measures of gaming industry being in strict scrutiny and with taxes in effect, hopefully a lot of people's hard earned money will be saved and a lot of people may get out of these addictions.
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Gambling is a deadly thing and has eating many people into their marrow, the Indian Parliament has done so well and as well is part of saving so many lives that has gone astray
Especially the younger generation, they will be saved from these scams
Good one
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.
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The second-largest beneficiary of online gaming was the government, which collected 30% of all winnings from contests. Platforms like Dream11 even rose to the level of becoming chief sponsors of national teams. However, it is important to note that this is only a blanket ban, and individuals addicted to gambling are likely to find alternative ways to bet money on these apps.
You are right that those who want to play will find out some or the other way, but the only thing is that because it's made illegal, many will think twice before getting in to it, and may completely want to avoid it. While this comes as a law now, I am not sure under the table how much will still happen.
It would be nice if online gambling was also banned in my country, I know a lot of people that have lost their jobs due to it, it's just so sad
So sad that is, it's difficult to control this addiction :-(
Gambling apps take advantage of people’s weaknesses and strict regulations will at least protect minors and prevent huge financial losses. Responsible gaming should always be the priority over profit, I'm happy this is happening
Yes, it will become illegal so people will think twice before getting into it.