'Indian gaming industry needs stable regulations'

By Sunil Yadav, CEO, PlayerzPot,

Online gaming is one of the fastest-growing sectors with numerous investments, enormous employment opportunities and immense growth potential in terms of expansion and revenue. The industry was originally scheduled to become a US$122.05 billion industry by 2025, but the pandemic has greatly accelerated and helped this sector to grow tremendously, much sooner than expected. The sector has the potential to transform the way the younger generation learns, consumes content, and gets entertained. We look forward to transparent and progressive regulations that clearly differentiate games of skill from those of chance.

As a leading platform in the industry, we will of course abide by the laws of the land, but a regulatory body will help oversee the industry and help in drafting progressive policies that are beneficial to the nation by having a safe gaming environment. During or after Covid-19 lockdowns, the Indian gaming industry needs stable regulations with national guidelines to achieve its long-term sustainability and competitiveness on a global scale. In an answer to the same, NITI Aayog has already proposed setting up a self-regulatory body for online Fantasy Sports, along with a framework of possible rules and standards for the sector. We also look forward to standardisation among accounting and financial practises.

In this budget, we welcome conducive Govt solutions that will help us overcome current industry challenges. We would also welcome clarification on data privacy and third parties to safeguard user privacy and avoid any breaches in the same. With a proper policy structure, legal framework, regulatory ecosystem and data privacy procedures, the online gaming sector can easily support the government's initiatives under the campaign Digital India, Make in India and contribute remarkably to the economy.