Online Gaming Bill - 2025 [It's over]
The stock market has always been a risky affair. Rather than getting greedy over the rising prices, one should focus on achieving their target. I am feeling quite relived todays, seeing share of Nazara technology falling over 8%. I had this share in my portfolio for over 2 years. But I exited the stock last year. Today is the day when all the gaming share felt heat as Government have introduced Promotion and Regulation of Online Gaming Bill, 2025, a legislation that bans online money games in India.
The Union Cabinet has cleared the Promotion & Regulation of Online Gaming Bill, 2025. What does this bill say?
All money based online games will be banned, whether skill or chance.
No ads for such games.
Banks and financial institutions can not process related transactions.
Violators may face 3 years jail and fines.
Even though Nazara clarified that it has no direct exposure to real money gaming, investors didn’t take chances today and the share crashed. There are many online gaming platform that may face the wrath of this bill. Espcially those related to fantasy sports involved in cricket poker or rummy.
India's once booming real money gaming sector is bracing for widespread shutdowns, layoffs after the bill is passed today. The bill aims to promote e-sports, educational games, and social gaming while prohibiting online money games. The government's focus is to eliminate online games with financial components due to concerns about addiction, financial losses, and potential suicides among youth.
It will be interesting to see how the youth cope with the shutdown, as most of them were pretty occupied with these money games. They find it as an easier way to make money. But now the government plays their card to wrap up everything, citing welfare of the society.
In good faith - Peace!!
Posted Using INLEO
Man, they really don't want anyone to have any fun do they?
Most of the youth were addicted towards RMG..for money...so somewhere it is good too
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