India bans real-money gaming, threatening a $23 billion industry

The Indian government has proposed a law to ban real-money gaming nationwide, which could significantly impact the country's $23 billion gaming industry. The law, which has already passed the lower house of parliament, aims to prohibit the operation of real-money games, including online and offline platforms. The proposed legislation is part of the Indian government's efforts to regulate the rapidly growing gaming industry, which has faced concerns over addiction and potential financial risks. The ban would apply to both skill-based and chance-based real-money games, potentially affecting a wide range of online and mobile gaming platforms. The move has drawn criticism from industry stakeholders, who argue that the ban could stifle innovation and hurt the economy. However, the government has maintained that the law is necessary to protect consumers, particularly vulnerable groups, from the negative effects of real-money gaming. The proposed law is currently awaiting approval from the upper house of parliament, and if passed, it could significantly reshape the gaming landscape in India, with far-reaching implications for the industry and its stakeholders.