Online money game a big problem for society: official source

New -Delhi, August 20 (PTI) The center realized that online real money game was a big problem for society and chose to abandon revenue loss above the well -being of people, a source of the government said on Wednesday. The Government has filed ‘promotion and regulation of online game bill 2025’ in the Lok Sabha, which proposes to promote esports and online social games while prohibiting money game in any form. “Online games involving money have become a big problem for society. Every member of parliament expressed concern about the bad effects of it. Between income from one -third of the operating segment and the well -being of society has chosen the government’s well -being,” the source said. According to the source, actions against entities involved under the bill will be done mainly by state governments. The bill suggests that any person who offers an online money game service is contrary to the set terms contrary to the imprisonment of up to three years or a fine that can stretch up to £ 1 or both. The provisions also determine imprisonment of up to two years and whether a fine of up to £ 50 lakh, or both, for those who are applauded to advertisements in violation of the rules. Various online game platforms for real money are a ‘game of skills’ to distinguish themselves from gambling or bet, the source said. “Those who play the games are victims. They will not be punished according to the bill, but there will be action against those who offer real money platforms, facilitate transaction services, etc.,” the source said. On the other hand, the bill seeks to promote esports and online social games, which are part of the creative economy. “There will be a budget for it, schemes and authority for their promotion. These are two-thirds of the industry. It will create jobs for the online game industry,” the source said. The government has been bypassing the Real Money Gaming players for the past three and a half years, the source has added. “The government tried to check it through GST, but it was bypassed. There was a proposal for a regulatory body, but it was influenced by a conflict of interest. The provisions under the bill were taken after several complaints were received from the public and their representatives,” the source said. Meanwhile, the industry bodies that represent Real Money Game players represent-India Gaming Federation (AIGF), E-Gaming Federation (EGF) and Federation of Indian Fantasy Sports (FIFS)-in a letter to Home Secretary, AMIT Shah, said it would kill the bill. The letter states that the online skills game industry is a ‘sunrise sector’ with a valuation of businesses over £ 2 Lakh Crore and an annual turnover of more than £ 31,000. It carries more than £ 20,000 crore in direct and indirect taxes annually and is expected to grow at a 20 percent composite annual growth rate (CAGR), which doubles by 2028.