Vidhyaa Sree Vidhyaa Sree is a freelancer/Content Writer and author of www.gogreenguyz.com

Online Gaming and Troubled Waters: Legality and Clarity

1 min read

The entertainment and media have reached new heights with the expansion of Information and communication technology. The aspects of online gaming and the legality involved is a complex matter in India. Online gaming is very often confused with Online betting and the arrests made in the connection. Gambling laws are outdated and colonial in nature needs urgent notice for modification. The recent abuse has led the authorities to gear up and construe a program towards direction for more clarity. Irrespective of this, the online gaming has seeped into the blood of Indians, and thriving.

 

Online-Gambling in India

Entrepreneurial Ventures in Online Gaming

A few big international companies are eyeing the Indian home entertainment segment. The same vigor with which the technological applications are developed is not there in complying with techno-legal laws. They are also thinking of ‘localizing’ the game to make it more popular among the Asian populations. This includes text translation, dialogue dubbing and character outfits to make it more attractive. In the face if such innovativeness, cyber law diligence should be the norm for foreign investors. Supreme Court of India has made a distinction between skill based and chance based gaming activities. Each has its own jurisdiction and cannot be applied uniformly.

Know the Law to Avoid Faux Pas

The companies developing e-gaming portals and websites in India need to abide by traditional laws but also the Information Technology Act, 2000. Reserve Bank of India (RBI) has not authorized Bitcoins but it is slowly gaining acceptance among Indians too. Designing a virtual currency scheme can be the solution to compete with traditional currencies. However, in the absence of a legal framework imply that traditional rules are not valid in the case of virtual currency. Therefore, the legality of Bitcoins is not clear. The popularity of online poker game in India indicates opening of an online poker and legally managing it.

Difference is the Rule

Just like Lottery laws in India, online gaming laws figure differently in different states in India. In a similar vein, online poker website may be legal in one country but illegal in another. Therefore, international companies looking to initiate a business in India should make themselves familiar with cyber laws in India. The companies should keep in mind the conflicts of laws in online gaming business. Many e-poker gamers are not aware of the legality of the game. The entrepreneurs of the online poker portals ignore the tax. Ignorance coupled with non-compliance has led to terrible abuse.

New Captivating Enterprise

The law enforcement agencies in India have put together an initiative to curb the diligences involved in cyber law. The Central Bureau Investigation (CBI) has set up the “Sports Integrity Unit.” The unit probes into the fraud cases and coordinating with the sports federation and law enforcement agencies. The Unit also intends to engage with the Indian Ministry of Youth Affairs and Sports in order to achieve its aims. Thereby, if it achieves a successful implementation, India will be one of the few countries to have a sole federal set up to meet the lapses following cyber law abuse.

Vidhyaa Sree Vidhyaa Sree is a freelancer/Content Writer and author of www.gogreenguyz.com

Worldwide Surge in Trading Accounts During this Pandemic

Flood of new retail traders flocking into the stock market and most of the brokerage firms across the world reporting surge in trading accounts....
Rajandran R
44 sec read

Things you need to know about Vedanta Delisting

On 12th May 2020, Vedanta India came up with a delisting offer priced at ₹87.5 per equity share. Ahead of the announcement, the company’s...
Rajandran R
1 min read

Know Your Implied Volatility

Implied volatility (IV) is a very important measure if you are trading options. It helps traders to understand the overall market expectation. ...
Rajandran R
1 min read

Leave a Reply

Get Notifications, Alerts on Market Updates, Trading Tools, Automation & More