Need to have different regulations for Real Money Games,Free-to-Play Games and Fantasy games

Introduction

Online gaming is a huge industry that has gained momentum over the past decade. According to market research firm NewZoo, global revenue from digital games will hit $180.1 billion by 2021.

Online Gaming Rules

Online gaming rules need to be categorised. However, there is another way of looking at it. The reason why online gaming rules need to be categorised is because they are so numerous and are growing every day. This can make it difficult for anyone to keep up with all the different types of games that are being introduced in the market today, which means they may not know how to play them properly. Hence, categorisation will help players know exactly what category their game belongs under and this will allow them to learn how to play any new game easily without having any difficulties or problems along the way.

In terms of revenue generation and user base it is the sector for Online Games that is growing by leaps and bounds.

In terms of revenue generation and user base it is the sector for Online Games that is growing by leaps and bounds. The industry has been growing at an exponential rate in the past few years. In fact, according to a report published by PWC (Price Waterhouse Coopers), gaming revenues were estimated to be $740 billion in 2017.

The growth has been mainly due to the advent of smartphones and mobile phones which have made it possible for people from all walks of life to access their favorite games anytime, anywhere!

The industry worldwide employs thousands of people in high paying jobs.

The gaming industry is no longer a niche market. In fact, it has become one of the biggest industries worldwide. The market for video games is expected to grow from $91.5 billion in 2018 to $108 billion by 2022 and with this growth comes a number of opportunities for people who want to work within the industry.

The gaming industry employs thousands of people around the world, from developers creating new software titles through to marketing teams working on campaigns promoting these titles. With so many high paying jobs available within this sector there are numerous ways that you can earn money from gaming and it’s not just limited to those who love playing!

It is a sunrise sector with immense potential to generate employment and wealth.

The gaming industry is a sunrise sector with immense potential to generate employment and wealth. The number of people employed in the gaming industry has grown from 2 million in 2010 to over 4 million in 2016, according to the Global Games Market Report by Newzoo. It is estimated that by 2020, this number will rise to 5.2 million people worldwide.

The need for categorisation is even more pressing in the Indian context due to several reasons.

The need for categorisation is even more pressing in the Indian context due to several reasons. Firstly, India does not have any specific legislation governing online gaming industry as a whole, thereby warranting the need for broader categorisation to facilitate holistic consideration of this subject matter by Government. Secondly, there is no consensus among stakeholders on whether or not India should regulate online gaming activities through lawmaking or regulation alone (as opposed to self-regulation). Thirdly, since there are multiple stakeholders involved in this sector—including regulators/legislators/industry players and consumers—it becomes extremely difficult to arrive at an agreement among them about how best to regulate such an activity.

It is important that we establish some clarity on what constitutes gambling under Section 2(d) of IT Act 2000 before proceeding further into our discussion below which will highlight why it may be necessary for us all agree upon certain principles when it comes down to regulating this sector

- Firstly, India does not have any specific legislation governing online gaming industry as a whole, thereby warranting the need for broader categorisation to facilitate holistic consideration of this subject matter by Government.

In India, the online gaming industry is still at a nascent stage and can be broadly categorised into two categories:

• Prescribed games that are permitted or allowed under existing laws such as horse racing and betting (developed by State Governments)
• Unregulated games played on the internet (developed by private players)

- Secondly, there are significant issues involved which concern other Ministries and Departments of Government of India, such as Ministry of Finance which regulates Betting & Gambling activities under Prize Chits & Money Circulation Schemes (Banning) Act, 1978; the Department of Youth Affairs which regularly conducts competitions in sports including those relating to e-sports; and the Directorate General of Foreign Trade which regulates export/import to/from India of software products having intellectual property rights including those concerning gaming software.

The need for categorisation is even more pressing in the Indian context due to several reasons. Firstly, there are significant issues involved which concern other Ministries and Departments of Government of India, such as Ministry of Finance which regulates Betting & Gambling activities under Prize Chits & Money Circulation Schemes (Banning) Act, 1978; the Department of Youth Affairs which regularly conducts competitions in sports including those relating to e-sports; and the Directorate General of Foreign Trade which regulates export/import to/from India of software products having intellectual property rights including those concerning gaming software.

Secondly, there are significant issues involved which concern other Ministries and Departments of Government of India, such as Ministry of Finance which regulates Betting & Gambling activities under Prize Chits & Money Circulation Schemes (Banning) Act 1978; The Department Of Youth Affairs that regularly conducts competitions in sports including those relating to e-sports; Directorate General Of Foreign Trade that regulate export / import into our country from abroad

Further, with a view to enable consideration of issues?related to online gaming in their totality, Government of India has allocated matters related to?online gaming to the Ministry of Electronics and Information Technology.

Further, with a view to enable consideration of issues related to online gaming in their totality, Government of India has allocated matters related to online gaming to the Ministry of Electronics and Information Technology. It is important that this issue should be addressed comprehensively and proactively.

In view of the above, it is desirable that a comprehensive policy framework on online gaming be evolved after taking into account all relevant factors including economic impact, employment generation prospects and regulatory measures required for ensuring fair competition without compromising on consumer protection. The industry worldwide employs thousands of people in high paying jobs and it is also one such sector which has immense potential to generate employment and wealth.

Gamers themselves clearly distinguish between real money gaming, fantasy sports, and free-to-play games; this distinction should exist on the regulatory side as well

Gamers themselves clearly distinguish between real money gaming, fantasy sports, and free-to-play games; this distinction should exist on the regulatory side as well. In fact, it would be difficult to imagine a game that didn't fit into one of these three categories.

But what exactly makes a game free-to-play? And what's in it for you? The answer is simple: there are no restrictions on how much you can spend on your account or how many times you can play each day. You can play until all your coins (or tokens) are gone! This means that players who don't want to spend any real money but still want to enjoy their favorite game will find themselves frustrated by having spent too much money on virtual items they never wanted in the first place.

What are Real Money Games

Real money games are games that involve the use of real money. This includes online scratch cards, casino games and sports betting. Playing these types of games can have a significant impact on your life, so it's important to be aware of the risks involved.

What are Free-to-Play Games

A free-to-play game is a video or computer game that can be played for free, but has optional in-game purchases that can be made to speed up progress or gain access to new content.

The model originated as a hybrid between paid download and advergames and has been used by many companies such as Zynga, Rovio with Angry Birds and Electronic Arts with The Sims Social and Battlefield Heroes.

What are fantasy sports

Fantasy sports are a form of competitive fantasy sports, played in a league format. In a typical fantasy league, each participant creates an imaginary team of real players from the major leagues — Major League Baseball (MLB), National Football League (NFL), National Basketball Association (NBA), and so on. Team owners then use these players' real statistics to earn points that correspond to the teams' performance in their real-life games.

Conclusion

With the rising popularity of online games today, it is clear that the government needs to implement a drastic change in their policies, and fast. The online gaming industry is only going to become bigger in the future, and the government will be missing out on valuable taxes—as well as vital data points—if they decide to keep ignoring it.

Going by current trends, it is clear that the gambling industry will continue to look for an edge and provide more entertainment options to its patrons. On one hand, it will attempt to make its offerings ever more exciting in order to siphon money out of gamblers' wallets. On the other, gambling platforms that offer free games will attempt to increase revenues by monetizing players through advertisements, betting with virtual currency and possibly even in-game purchases.

Supergaming.NET Dr. Ashwath Narayan C N Ashwini Vaishnaw Zupee IndiaTech.Org IndiaTechOrg TSIA Jayesh Ranjan All India Gaming Federation (AIGF) All India Game Developers' Forum (AIGDF) Mobile Premier League (MPL) Sai Srinivas Kiran G WinZO Nazara Technologies Limited Nitish Mittersain Pranav Mukul Bharat Web3 Association WazirX Hike CoinDCX Aashish Aryan @amit Agarwal Alkesh Kumar Sharma