Page 4 - Gaming Industry

Investors put $1 billion into real-money gaming firms between 2020 and 2024

It went on to secure $332 million across 22 rounds in 2022, before plummeting to $20.6 million in six rounds in 2023 and $19.5 million in just three rounds in 2024, according to Tracxn

Real-money gaming dealt a losing hand as crackdown follows ₹20,000 cr blow

Experts and industry players warn that the move could backfire by driving users toward unregulated offshore betting platforms

EPWA urges PMO to reconsider ban on real money games, seeks framework

EPWA has written to the PMO urging reconsideration of the blanket ban on real money games, calling for regulation distinguishing skill from chance and safeguarding players' rights

Lok Sabha clears Bill to ban real-money gaming: Countdown begins

Cleared by the Union Cabinet on Tuesday, the Bill was introduced in the Lok Sabha earlier in day. Senior officials described it as a balanced measure, defending the government's decision to outlaw RMG

Money gaming industry may be forced to fold as Centre goes all in on ban

Days after it was figuring out how to deal with a steep GST burden, the real money gaming industry has been hit with a legislative tsunami that could effectively eliminate it entirely

Tharoor warns ban may push online gaming underground, calls for regulation

Congress leader Shashi Tharoor on Wednesday criticised the government's move to ban online money gaming, warning that such a step would only push the industry underground and strengthen criminal networks. He also said he had not studied the three Constitution amendment bills seeking to provide a framework for the removal of prime ministers, Union ministers, chief ministers and state ministers detained on serious criminal charges in any detail. On the face of it, it is difficult to say it has any problem, but obviously if anyone does something wrong they should not be a minister anyway. I don't know if there is any other motive, he remarked. Discussing the bill seeking to prohibit and regulate online gaming introduced in the Lok Sabha, he said, "I had written a very long article on the argument that by banning online gaming we are simply driving it underground, whereas it could be a useful source of revenue for the government if we legalise it, regulate it and tax it." He added that

Gaming bodies seek Amit Shah's intervention to stop RMG ban in India

Gaming associations warn that banning real-money games could shut 400 firms, endanger 2 lakh jobs, reduce tax revenue, and push users to offshore gambling operators

Govt set to log out real-money games; Bill to be tabled on Wednesday

The draft bill, however, calls for promoting e-sports and online social games, according to a source

Govt likely to tighten rules for money-based games in Online Gaming Bill

The draft Bill is likely to impose severe restrictions on online money games or online money gaming service offerings, including bank transactions

Games24x7 rolls out 3rd edition of TechXpedite accelerator programme

Games24x7 announces the third edition of its TechXpedite accelerator, offering support to early-stage startups in AI, gaming, sports, and inclusive technology.

Real money gaming firms on shaky grounds after increased 40% GST

Real money gaming firms say a proposed 40 per cent GST could drive users offshore or force closures, adding to the stress already caused by the 28 per cent levy imposed in 2023

Garena Free Fire Max: August 18 redeem codes to win weapon skins, diamonds

Garena Free Fire Max has revealed redeem codes for August 18. Players can follow the step-by-step guide below to redeem today's codes and win in-game rewards

GTA Online gets community-based Race and Combat Series: Check what's new

Rockstar expands GTA Online's Community Series with Race and Combat playlists, new creator rewards, tips for getting featured, and ongoing Creator updates

SuperGaming raises $15 mn Series B to take Indus Battle Royale global

Pune-based SuperGaming secures $15 mn in Series B funding at a $100 mn valuation to expand Indus Battle Royale to Latin America and scale game development capabilities

GameRamp raises $5.4 mn pre-seed round to scale AI and launch tools

San Francisco-based GameRamp raises $5.4 million to expand AI and engineering teams in India and the US, and launch AI monetisation and embedded financing tools

Over 84,000 Indian gaming accounts leaked in 2024, says Kaspersky

Over 84,000 online gaming account user details were leaked in India in 2024, the global cybersecurity and digital privacy company Kaspersky on Tuesday said. The maximum number of leaks of gaming account user details was witnessed in Thailand, the minimum such instances were in Singapore in the Asia-Pacific (APAC)Region, it said. The APAC region has emerged as the global epicentre of gaming, with more than half of the world's gamers based here. Markets such as China, India, Japan, South Korea, and the rapidly growing economies of Southeast Asia contribute significantly to this dominance. According to Kaspersky, Thailand recorded 1,62,892 leaked cases, followed by the Philippines with 99,273, Vietnam 87,969, India 84,262, Indonesia 69,909, Malaysia 37,718, South Korea 37,097, China 18,786, Sri Lanka 10,877, and Singapore 4,262 leaked cases, the company said. The company further said that 11 million gaming account credentials were leaked last year. The region's rapid digital adoptio

Tech Wrap July 30: Acer Nitro Lite 16, Moto G86 Power, Apple specialist

Acer Nitro Lite 16 launched. Motorola Moto G86 Power launched. Apple Store online introduces Shop with Specialist over Video. OpenAI's Study mode. NotebookLM Video Overviews. Adobe Photoshop

EA drops Battlefield 6 trailer with signature destruction mechanics: Watch

EA drops the first trailer for Battlefield 6 videogame featuring signature destruction, global conflict, and a return to large-scale warfare

Nazara's stake in Nodwin to drop below 50% after internal fundraise

Nazara Technologies will cease to hold a majority stake in Nodwin Gaming after opting out of the latter's internal fundraise, but remains its largest shareholder

Levy of 28% GST on online money gaming flawed, firms tell Supreme Court

Gaming platforms argue tax lacks legal basis and violates GST framework; SC schedules final hearing on July 25 in ₹2.5 lakh crore tax dispute