The Indian gaming market is expected to grow from $2.8 billion in 2022 to $5 billion in 2025, growing at a CAGR of 28-30%. The quantity of gamers in the nation is supposed to expand from 420 million in 2022 to 450 million by 2023, and it hit 500 million by 2025.

The proposed rules have been introduced as an amendment to the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021. Even as the industry has welcomed the move, there seems to be some room for ambiguity. With the webinar, we at BrandWagon Online, aim to clear doubts in the minds of stakeholders and users. 

• As per the draft rules, online games will have to register with a self-regulatory body. Only those games which are registered and cleared by the body will be allowed to legally operate in India.
• The body should have a board of directors with five members from diverse fields, including online gaming, public policy, IT, psychology and medicine.
• The policy allows the existence of more than one self-regulatory body. All the bodies will have to inform the Centre about the games they have registered along with a report detailing the criteria for registering.
• The draft rules further suggest that online gaming firms will have to go through additional due diligence. This includes KYC of users, clear withdrawal and refund of money, besides a fair distribution of winnings. For KYC, gaming companies will have to follow norms laid down by the Reserve Bank of India (RBI).