An influential Indian watchdog group will try to ban entry fees for paid online game players, which could put pressure on the multi-billion dollar industry to defend against tougher laws.

The growing growth of real gambling, sponsored by cricketers, which is very popular in the continent, has led to regulatory efforts to prevent the dangers of drug addiction and reports of financial loss and suicide. 'between young people. These games can account for up to 53% of the game market, which is expected to reach $7 billion by 2026, three times more than last year, according to research firm Redseer.

“Ticket sizes should be regulated. It should not exceed 50 rupees. It's an addiction," said Ashwani Mahajan, a government official with the Swadeshi Jagran Manch, which is considered to be highly influential in Indian policy-making. "We will talk to all the officials involved," he told Reuters.

Although it is only 62 US cents, the proposed cap represents a huge amount of 25 rupees or 31 cents that 97% of users use in applications such as Mobile Premier League, for example. The remaining small share of 3% of users contribute 30% of the revenue to the platform by playing large games, the source of the company is estimated.

Tuesday's announcement from the group, the economic arm of the Bharatiya Janata Party's (BJP)-led parent think tank, comes as members of the government called for a new chief executive and suggested investing and removal. The process, in a confidential document reported by Reuters last week, prompted the firm of Tiger Global and Sequoia Capital to invest in sports betting providers such as Dream11, MPL and Games24X7 which offer cricket and other tournaments. another payment.

Dream11 commands a price of $ 8 billion, while MPL and Games24X7 use about $ 2.5 billion each, according to data from PitchBook. While the panel's report did not set any caps on fees, four senior game industry sources who spoke on condition of anonymity said the move would affect revenue and growth potential.

They promised to bring their problems to the government. India's information technology ministry, which formed the government body, and some officials from ministries such as revenue and sports listed on it, did not immediately respond to requests for comment.
Source: BusinessToday