Online Gaming Bill becomes law. It has become law after the President’s signature and gazette notification. It was earlier passed by both houses of Parliament. After the law is passed, Dream11, Games 24X7 and Mobile Premier League, the $ 3.8 billion gaming industry run by Nazara Technologies Limited will be affected.
Advertisement and promotion of online gaming will not be allowed on any media platform. In the field of money transactions, money transactions through banks and payment systems have been banned. Online games will be blocked under the IT Act 2000. An Online Gaming Authority will be formed under the law. According to the provision, violation of the rules will lead to 3 years of imprisonment or a fine of Rs 1 crore or both. In the field of advertising online games, a fine of Rs 50 lakh or imprisonment for 2 years will be imposed. If any financial transaction is made, then the punishment can be imprisonment for 3 years or a fine of 1 crore rupees or both. If the offence is committed again after the punishment, then there is a provision of imprisonment for 3 to 5 years and a fine of up to 2 crore rupees.