On Monday, the online gaming industry requested the government of India to set up a self-regulatory body for the entire online skill gaming sector. The purpose of this was to keep standardized regulations across the board and not just for the fantasy sports industry.
The skill gaming industry in India does not have proper regulations in place and like fantasy sports is still subjected to state-wise laws and regulations. A fact that The Online Rummy Federation (TORF) has pointed out in a statement. Recently, Niti Aayog pitched for a single-regulatory organization for the online fantasy sports industry. The suggestion was made in order to restrict fantasy games to users who are only 18 years and above. This organization will be governed by an autonomous supervisory board.
Bhavin Pandya, Co-founder and CEO of Games24x7 was quizzed about the contributions of the skill gaming industry towards the pro-growth vision of the government. Pandya said, “There significant overlap between fantasy sports and other games of skill (pool, carrom, quiz games, rummy). We believe that Niti Aayog’s draft should also include the broader skill gaming industry.
Niti Aayog mentioned in their draft report called ‘Guiding Principles for the Uniform National-Level Regulation of Online Fantasy Sports Platforms in India’ that government recognition for fantasy sports industry is in public interest and will also help the industry in etching its own identity.
Deepak Gullapalli, CEO of Head Digital Works which operates online rummy brand A23 and fantasy sports platform Fanfight spoke about the gaming industry in India. He said, “A common self-regulatory body will result in the eradication of uncertainty over foreign investors, fetch foreign investment, drive innovation, tax purposes and boost employment.”
Entrepreneurial culture backed by skill gaming is India is also showing positive growth. Founder and CEO of Junglee Games, Ankush Gera stated, “In comparison to the current 275 game development startups, there has been a 10x increase in the number of industry players in the last ten years. The gaming industry employs over 50,000 highly qualified technologies, product development and design resources.”
Credit: Press Trust of India