India Seeks Ban on Online Betting Apps To Curb Addiction

India has moved a legislation to ban online money gaming due to rising instances of addiction, money laundering and financial frauds through these apps. From a report: A bill passed in the lower house of Parliament on Wednesday seeks to prohibit promotion and operation of gaming apps that require users to pay money for the chance to win cash. The move threatens India's $3.8 billion gaming industry that has drawn global investors and also fostered homegrown fantasy sports betting apps such as Dream11, Games24X7 and Mobile Premier League. "People lose their life's savings in online money gaming," India's Minister for Information and Broadcasting Ashwini Vaishnaw told lawmakers in New Delhi. He said the government intends to curb the addiction and financial harm that comes with online money gaming, but will promote e-sports and social gaming.

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