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Indian Government Posses Self Regulation For Online Betting

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A new set of guidelines for internet gambling have been announced by the Indian government, creating a number of “self-regulatory” organisations to monitor the market.

To address online gambling, the Indian Ministry of Electronics and IT released modifications to its Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules.

Up to January 17, there will be a consultation on the changes.

Self Regulation For iGaming In India

According to the regulations, an online game is any game that is played online and in which a participant “makes a deposit with the hope of rewards.” The Indian government has the authority to declare various sports to be governed by the rules, if necessary.

The revisions specify that no online game provided may be against any current legislation, such as state-wide gambling restrictions.

Indian Self-Regulatory Bodies that Oversee Online Gambling

The reforms would permit the formation of “self-regulatory organisations” made up of online gaming companies that would set regulations for online gambling instead of creating a government regulator.

A representative of online game players, a psychology or consumer education expert, a public policy expert nominated by the Indian central government, and “an independent eminent person from the field of online gaming, sports or entertainment, or such other relevant field” are all required to sit on the board of such a body.

These organisations ought to establish a set of guidelines “with a view to safeguarding users from damage” like addiction, as well as to protect kids and stop financial crimes.

A complaints procedure should be put in place, as well as requirements for members to authenticate their users, do know-your-customer checks, and have a contact address in India.

The central government has the authority to “order it to undertake actions to correct the non-compliance” if a self-regulatory organisation fails to establish adequate standards. The registration of such a body might then be suspended, if required.

Sushil Kumar Modi, a member of parliament, urged the government to establish a thorough framework of regulation for online gaming last year in response to the industry’s rising popularity in the nation.

The Final Take Away

In 2025, the online gaming sector is anticipated to grow to $5 billion. A trustworthy and efficient grievance redressal mechanism would be offered by the self-regulatory authority.

Additionally, age verification will encourage responsible gambling by registering online gaming intermediaries. The restrictions will go a long way toward protecting the interests of the customer and encouraging the open, responsible development of the sector. Offline gaming services that are against national law and unlawful will represent less of a concern if there are clear and rigorous self-regulations in place.

Thus, it won’t be wrong to say that the future of online sports betting is bright in the country. So, do the needful and move one step closer to make the most of this coming revolution. Besides, if you have any questions or queries, feel free to reach us, we would be happy to help.

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