Page 26 - Online Gaming

Online gaming firms criticise Google for commission in alternative billing

Play Store allows alternate billing systems but service fees defeats purpose of fair play, they say

Revenue from Indian fantasy sports to top Rs 25,000 cr by FY27: Report

With over 300 fantasy sports platforms and about 180 million users, India is the world's fastest-growing fantasy sports market

Wagering barred in all forms games, be it game of skill or chance: MoS IT

Online gaming rules do not need to get into the nuances of chance or skills as wagering is barred in all forms of games irrespective of the nature of the game, Union Minister Rajeev Chandrasekhar said in a tweet on Thursday. The minister of state for electronics and IT was responding to an editorial, which said that the online gaming rules avoid dealing with nuances of games of chance versus games of skill. Chandrasekhar said that wager is a well-defined expression in contract law, and decisions have clearly held the meaning of wager. "There is no need in this framework to get into "nuances" of chance or skill, bcz the harm of wagering is directly being prohibited - regardless of the nature of the game," the minister tweeted. The Centre had last week notified norms to regulate the online gaming sector, wherein real money games involving wagering or betting have been prohibited. "The ITRules for OnlineGaming hv been developed after extensive consultation, are quite clear n deal wth

Rules of the game

Online gaming regulations need clarity

TMS Ep408: Space policy, online gaming, large-cap stocks, convertible note

Is India giving more 'space' to private players? Is more red tape being added to online gaming? Should you stick to safety of large-caps for now? What is a convertible note? All answers here

TN notifies ban on online gaming; carries a fine of Rs 5,000, 3-month jail

This comes a day after the Bill passed by the Legislative Assembly was given the go ahead by the state Governor, R.N. Ravi

Govt notifies gaming rules to prohibit online wagering and betting

The final version of the rules has provided a three-month window for the body to complete the inquiry on whether a game should be permissible or not

Government releases new rules for online gaming, prohibits betting

The government on Thursday released new rules for online gaming which prohibit any game that involves betting and wagering, and entail a framework of multiple self-regulatory organisations (SROs). Online games involved in wagering or betting will fall foul of new online gaming rules, Minister of State for IT Rajeev Chandrasekhar told reporters here. There will be multiple SROs, and these SROs will have participation from all the stakeholders including but not limited to the industry. "We are dealing with a framework which allows for all online gaming to be determined as permissible or not, by an SRO and there will be multiple SROs," Chandrasekhar said. Permissibility will be determined with the simple principle of whether wagering is involved and "if wagering is involved, the SRO will be in a position to say that those online games are not permissible.

Fantasy gaming revenue to go up 25-30% during ongoing IPL: Redseer report

Transacting users in this IPL is expected to grow by 25-30 per cent, with 60-65 per cent of them coming from tier-II cities and beyond

Centre's grievance appellate committee to hear pleas against gaming SRBs

WATCHER BEING WATCHED: Risk of capture of self-regulatory bodies flagged

Online gaming: Banker charge-sheeted by CBI for embezzling Rs 55 crore

The CBI has charge-sheeted a bank officer and his accomplice whose rapacious appetite for online gaming lured them to allegedly embezzle more than Rs 55 crore from various accounts, a major chunk of which was funnelled to virtual betting tables, officials said on Monday. In what transpired to be a tale of avarice and subterfuge, the CBI alleged that accused officer Bedanshu Shekhar Mishra and his accomplice Shailesh Kumar Jaiswal committed forgery in Punjab & Sind Bank, where Mishra was employed, to channel funds from various bank accounts into various betting games online, they said. Mishra was posted at the North Campus branch of Punjab & Sind Bank at Khalsa College of Delhi University since June 28, 2021. In a statement during bank enquiry, Mishra admitted to having used banking IDs of colleagues to make illegal transfers for online gaming purpose, the officials said. In the CBI's scrutiny, Mishra was found to have "illegally and without any authority" encashed 32 fix ...

STT hike to GST appellate tribunal: Key takeaways from Finance Bill 2023

Finance Bill 2023: Debt funds with less than or equal to 35 per cent invested in equity shares will be taxed at the investors' income tax slab and treated as short-term capital gains

Paid competitive gaming growing 6x faster than overall mobile gaming: RPT

A report on Friday showed added that consumer spending on games has gone up by around 40 per cent in the last three years

Gaming apps can help identify ongoing problems of traumatic brain injuries

Gaming apps can help identify ongoing problems with navigation -- a common long-term symptom of traumatic brain injuries (TBIs) -- making these issues easier to diagnose and treat, claims a study

WinZO to invest $50 mn in gaming ecosystem as part of Game Developer Fund

Gaming startup WinZO plans to invest USD 50 million (about Rs 410 crore), in the global gaming ecosystem as part of its flagship Game Developer Fund, the company said on Monday. The company expects to invest at least USD 10 million of the fund in US-based startups as part of the programme. "Indian gaming startup WinZO announced the fourth edition of its flagship Game Developer Fund with the largest ever corpus of USD 50 million to support the global gaming ecosystem. It expects to invest at least USD 10 million of the fund in US-based startups," the company said in a statement. WinZO is looking to invest the fund in startups across all forms of interactive entertainment-- game developers and publishers, economies around gaming, content creation, live-ops, and security. The games cover diverse genres from casual, action, sports to mid-core multiplayer games such as tennis, golf, more. "Given our platform play at WinZO where we have access to the performance of over 100 games by mor

Tamil Nadu Governor returns bill on prohibition of online gambling

On October 7 Governor Ravi promulgated an ordinance to prohibit online gambling and to regulate online gaming in the state

Graded KYC for online gaming platforms likely to receive MeitY approval

Platforms must follow verification procedure as prescribed under RBI's directions for entities regulated by it

Amazon's cloud gaming platform 'Luna' may add Epic Games' Fortnite

Luna dropped 53 games, including titles like 'Snake Pass', 'Retro Classic: Gate of Doom' and 'Bridge Constructor Portal'

India Gaming Show 2023 back offline after 4 years today: Details here

IGS 2023 will have several events like an exhibition, meet and greet, cosplay, product launches, product demonstrations and awards

Top headlines: MSCI to review Adani Group securities, Maaza to go global

Business Standard brings you the top headlines at this hour