New Delhi: The rapidly growing Indian online gaming sector is also facing the serious threat of money laundering. In such a situation, there is a need to take immediate steps to ensure its continued success and protect the country's strong digital economy.
Let us tell you that a report by Digital India Foundation has suggested making a law to deal with illegal operators and making a white list of legitimate operators, dealing with misleading advertisements and incorporating the principles of financial crisis and international cooperation.
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Gaming market will be worth Rs 7.5 billion
Digital India Foundation
It added that other important measures include providing public awareness and education to enable users to make informed decisions and avoid platforms engaging in deceptive practices. According to the report, the Indian Real Money Gaming (RMG) sector is leading the global market with an annual growth of 28 percent from FY 2019-20 to FY 2022-23. Revenue from this sector is projected to reach US$7.5 billion over the next five years.
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Strict laws are necessary
Arvind Gupta, co-founder of Digital India Foundation, said that despite regulatory efforts to curb illegal operators, many platforms circumvent restrictions through mirror sites, illegal branding and inconsistent promises. This situation underlines the urgent need for strict monitoring and enforcement.
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