Fresh news has just been published from the Karnataka Assembly, a legislative body with the main purpose of amending the Karnataka Police Acts on gambling and online wagering has banned all online platforms supporting betting, gambling, and other related games. Government representatives expressed that, in principle, it should not be allowed for applications to be submitted that promote a ‘Game of Chance’ instead of a ‘Game of skill.
Madras High Court was the first to pass a similar judgment in this regard earlier this year.
There is a bill that was proposed by the Home Minister of Karnataka, Jnanendra, and he requested that the members of the Karnataka Assembly show their support to the bill.
We intend to ban all games involving profiting, bets or stakes that represent a financial gain. Home Minister Araga Jnanendra cited the case of the Madras High Court ruling in Tamil Nadu against similarislation and explained that “we have learned lessons from the decision of the Madras High Court,”.
According to statistics, the state has data on the number of people affected by the economic collapse as a result of online betting and gambling, and this bill hopes to put an end to the problem.”
In a way, most of the fantasy sports sites available online will suffer a significant loss due to the fact that this decision was made. A list of some of the companies on the list includes Dream11, Rummy Circle, MPL, Paytm Games, among many others. Tamil Nadu, Andhra Pradesh, and Telangana are some of the states that have already banned the use of these apps.
Also, from the point of view of a monetary perspective, the losses are estimated to be quite heavy from a monetary point of view. In Karnataka alone there are 91 gaming companies registered in Bengaluru alone, employment of 5,200 people is estimated, according to the online gaming industry estimates. Over the past three years, investments in this industry have amounted to more than Rs 3000 crore.
People who are associated with the business sector have stated that the bill’s contents do not amuse them very much. In view of this, they are demanding some clarification of things in respect of this, since the definitions and differentiation between the concepts ‘game of chance’ and ‘game of skill’ are still not clear.
It has been highlighted by CAIT that this Bill will make it hard to operate in a grey market for illegal offshore gambling and betting websites. These illegal apps have caused thousands of common people to lose their life savings as a result of playing these games.