India Introduces Online Gambling Legislation

Author: Live Casino Direct
 
India Introduces Online Gambling Legislation
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The Indian government proposed the rules on online gambling. The regulations will oversee aspects of online gaming that stand in a grey area between entertainment and gambling practices. They will create self-regulatory bodies to create rules for the online game segment. Companies will have to name a chief compliance officer and verify the user identity before the creation of an online account. If the self regulatory body fails to make efficient rules, the central government will take the respective measures.

The Indian information technology ministry published the draft rules for the online gaming industry. The gambling sector is supposed to reach $7 billion by 2026. US companies, such as Tiger Global and Sequoia Capital, have supported Indian start-ups, namely Dream11 and Mobile Premier League.

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