All India Gaming Federation (AIGF) has expressed its support for the amendments made on Thursday to the Information Technology Rules in relation to online gaming. The amendments provide a self-regulatory model for the industry, which the AIGF believes will bring stability and reduce regulatory fragmentation.
In a conversation with CNBC-TV18, Roland Landers, CEO of AIGF, expressed his optimism about the rules, stating, "We think it is a great move for the industry which will give certainty to online legitimate games including peer-to-peer gaming. So we hope that these rules will provide certainty with stability and reduce statewide regulatory fragmentation."
“We look forward to assisting the industry transition to the self-regulatory model envisioned under the rules and use learnings from the years of work that has been undertaken at the All India Skill Games Council (AIGSC), the oldest and largest voluntary self-regulatory body for online gaming,” the organisation said in a statement.
“The release of the new online gaming rules is a watershed moment for the industry, as it recognises online gaming intermediaries and distinguishes them from gambling," Sai Srinivas, CEO and Co-Founder, MPL, said, adding, "The rules will go a long way in helping us realise our PM’s vision for India to become a global leader in gaming and also contribute to the continued success of Brand India and Create in India."
Trivikraman Thampy, CEO & Co-Founder of Games 24x7, welcomed the SRBs (Self-Regulatory Bodies) that will ensure fair play and safety of consumers. He said, "we are hopeful that we don’t see more such laws coming out from different states."
Deepak Gullapalli, CEO & Founder of Ace2Three, stated that these rules are going to ensure that genuine games of skill are being offered in the country and customer safety is taken care of. "We welcome the rules," he said.
Paavan Nanda, Co-Founder of WinZO Games, hailed the proposed amendment as a game-changer for India's largest gaming market. "This amendment is a positive step for both the industry and the end consumer," he said.
The amendments to the IT Rules are expected to provide a central, light-touch regulatory mechanism and facilitate a level playing field for all games of skill. The draft empowers the Government of India to take the necessary steps to create a safe and accountable internet, protecting Indian consumers from illegal offshore betting and gambling.
First Published: Apr 6, 2023 7:26 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
