The online gaming industry has seen a whirlwind rise in the last couple of years, powered by young and tech-savvy people, affordable accessibility of cell phones, better internet connectivity, and overall technological development.

Ready to further add to the expanding numbers, online gamers are supposed to reach 510 million by 2025, and the online gaming industry will be valued at $ 3 billion in the same period.

This incredible development has been driven by the collective efforts of the whole online gaming industry’s ecosystem, comprising gamers of all ages, game developers, investors, and advertisers, generally working together to come up with the most recent cutting-edge games, ideas, and offers for players. An enormous target audience, more players and potential clients, and the continuous market expansion have unrivalled implications for some organizations working inside the gaming environment.

Gaming platforms are presently developing into computerized social platforms where players can meet, communicate, watch live-streamed events, listen to music, and make purchases as they converge with various industries, subsequently taking special care of a wider audience and the different player needs and spreading their scope. Moreover, the effect of online gaming isn’t simply restricted to gamers any longer. Today, it traverses across successful movie franchises, arena-based tournaments, toys, and many more.

Seeing the colossal development, investors are exceptionally bullish on native online gaming organizations, pushing the online gaming industry to progress forward on its unbeaten run by recording a winning score.

Investment in India’s gaming sector saw an astounding progression of 1.7 billion USD in the last 17 months. With over 400 online gaming startups in India, the nation is encountering an ascent in employment inside the job market as it has turned into a famous backend development community for gaming organizations, setting out additional opportunities in tech-oriented professions in IT and game development.

In the midst of this, the online gaming industry proceeds to emphasize the requirement for central guidelines and a central body to oversee this space.

For industry stakeholders, these figures are more than numbers; they show why the public authorities really should uphold India’s online gaming industry, which can assist them with assuming command over the revenues and boost the nation’s economy.

Despite the online gaming industry’s seeing vigorous development for organizations and regarding player adoption, there’s as yet an absence of understanding and awareness in the country. Online skill gaming can’t be equated with gambling because it’s membership-driven or includes an entry fee.

The pinnacle court and various high courts have reiterated a few times that online games of skill are not gambling and yet protected under Article 19(1)(g) of the constitution as the achievement relies essentially on superior knowledge, training, consideration, experience, and adroitness of the player.

However, gaming is a state subject under the constitution and is directed distinctively by each state. While online skill-based games are allowed in many states, the shortfall of comprehensive guidelines in this sector makes the subject complex.

Bottom line

It has been quite some time since the online gaming industry has acquired areas of strength within the Indian entertainment industry. Considering these trends, the importance of self-regulation by the AIGF within this online gaming industry cannot be emphasized enough, especially when it comes to responsible gaming, which is still a new concept in India.

As the online gaming industry has grown extraordinarily up to this point, the next level of development is profoundly subject to an obvious regulatory framework.

To guarantee that Indian startups stay inside India and do not flock to nations like the United States, the United Kingdom, Ireland, the United Arab Emirates, and Singapore, which offer ideal policies and environments that promote investment, the public authorities should make progressive steps towards successfully regulating this sector, currently represented by outdated perspectives and regulations.

New guidelines would assist in pushing gaming platforms to consider educating players about gaming responsibly, executing self-checks and self-exclusion, and so on.

Credit: The Times of India