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Gaming industry asks for NITI Aayog guidelines for all online skill games
By IANS |
Published on
Wed, Jan 20 2021 13:21 IST |
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JetSynthesys acquires mobile gaming firm Nautilus. Image Source: IANS News
New Delhi, Jan 20 : The online skill gaming industry has collectively recommended the NITI Aayog to set up a single self-regulatory body to standardise regulations governing the entire skill gaming industry.
The recommendation follows a draft report titled Guiding Principles for the Uniform National-Level Regulation of Online Fantasy Sports Platforms in India wherein the NITI Aayog has suggested the setting up a single, self-regulatory body for fantasy sports.
Like fantasy sports, India s skill gaming industry suffers from the same byzantine set of state-by-state laws and regulations. It is a brilliant move to have fair regulations for the online skill gaming industry which is estimated to be around Rs 5,250 crore, according to KPMG. But at the sam
Online gaming sector bats for one regulator
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The online gaming industry has asked the government think tank NITI Aayog to set up a single, self-regulatory body to standardise regulations governing the entire online skill gaming industry, instead of just fantasy sports.
The recommendation follows a draft report titled ‘Guiding Principles for the Uniform National-Level Regulation of Online Fantasy Sports Platforms in India’ wherein the NITI Aayog has suggested the setting up a single, self-regulatory body for fantasy sports.
“The size of India’s online skill gaming industry is estimated at about ₹5,250 crore, according to KPMG,” said Sameer Barde, CEO, The Online Rummy Federation (TORF), the self-regulatory body for the country’s online rummy industry, said. The fast-growing skill-based games like Rummy account for approximately 50% of the overall industry revenue. “Fantasy sports is a part of the overall skill gaming industry.
Niti Aayog s guidelines for fantasy sports should cover the entire gamut of online skill-based games, including rummy, which accounts for 50 per cent of the overall industry revenues, a stakeholder body, The Online Rummy Federation (TORF) has .
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