Online Gaming Bill 2025: How much money do people lose every year to money games?
&imwidth=600&imheight=450&format=webp&quality=medium "Online Gaming Bill 2025: How much money do people lose every year to money games?")
Proceedings of the Lok Sabha are underway during the Monsoon Session of Parliament. Photograph: (ANI)
Online Gaming Bill 2025: The Lok Sabha passed the bill, which seeks to ban online money games. The government says these games have ruined lives and families of many people.
The Lok Sabha on Wednesday passed The Promotion and Regulation of Online Gaming Bill, which promotes e-sports and online social games but bans online money games. Union Minister for Electronics and Information Technology Ashwini Vaishnaw said that Prime Minister Narendra Modi chose the welfare of society over revenue.
"Online money game, which is a cause of concern in society. There are people, there are families who got addicted to online money games. They lose their hard-earned money. Algorithms are sometimes such that it is different to know with whom you are playing. Algorithms are opaque," he added.
The minister said many people died by suicide, and many families were devastated because of online gaming. After the bill becomes law, those linked to the business of online money gaming will be imprisoned for up to three years and fined Rs 1 crore or both.
Repeat offenders can face a jail term of up to 5 years and can be fined up to Rs 2 crore.
Meanwhile, official sources told PTI that the government estimates that 45 crore people lose Rs 20000 crore every year in online real money gaming.
"There is a rough estimate that 45 crore people lose money every year. The total impact of the loss is estimated to be tentatively around Rs 20,000 crore," the source said.
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The source further said that money gaming has become a major problem for society, and parliamentarians raised concerns about its bad impact.
The source further said that several money games were masquerading as a game of skill to differentiate themselves from gambling.
The source said that the bill will promote eSports and online social games.
Meanwhile, online gaming bodies said that the bill will lead to the loss of nearly 2 lakh jobs and ruin an industry with a 20 per cent compound annual growth rate (CAGR).