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India's parliament has passed a law banning online gambling platforms, criminalizing their promotion and offering, with penalties of up to five years in prison, citing concerns over addiction, financial distress, and social issues, while promoting e-sports and educational games as exceptions.
The Indian government has announced a 28% tax on funds collected by online gaming companies, dealing a blow to the $1.5 billion industry that has gained popularity and foreign investment. Finance Minister Nirmala Sitharaman stated that the decision was made after consulting with states and was not intended to harm the industry. However, industry representatives argue that the tax will impact their earnings and may be passed on to customers. The move comes amid concerns over addiction and financial losses associated with gaming apps, which are endorsed by sporting heroes in cricket-loving India.