News Summary

India’s lower house of parliament has passed a new bill that imposes a nationwide ban on real-money gaming, potentially disrupting the $23 billion industry. This legislation, aimed at reducing societal harm and addiction, prohibits real-money games and their financial transactions, with violators facing severe penalties. The bill is seen as a threat to over 200,000 jobs and approximately 400 companies, many of which are significant contributors to the Indian economy. Industry bodies warn that this could lead to the rise of illegal offshore gaming platforms. Some companies in casual gaming and esports support the bill, believing it allows them to focus on sustainable business practices. However, there are concerns about the broader impact on the gaming ecosystem, including esports and the AVGC sector.