InvestorQ : What is this news about the ban on online games with stakes?
prachi Patwardhan made post

What is this news about the ban on online games with stakes?

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sara Kunju answered.
1 month ago
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You perhaps got the example of the gaming ban when the price of Nazara stock started falling rapidly. The whole issue came back into the limelight with the ban imposed by the state of Tamil Nadu, but it has been a major issue for some time now. The latest development was that the state of Tamil Nadu passed an ordinance banning online games with stakes. As of now, the ordinance is awaiting governor’s assent after which it can get promulgated into law. However, the big issue for state governments is whether these online stake games be banned or not and what are the pros and cons of doing the same.

Essentially this boils down to a debate over skill versus chance. What is a game of skill and what is a game of chance? Is it correct that games of skills are Ok and games of chance are not? That is tough call. Apparently, the state governments don’t seem to have a problem with games that are skill based. Their major concerns are with games that are stake based games and largely driven by chance. The governments are of the view that such pure chance based games are akin to gambling. They worry about the negative impact it can possibly have on the young and impressionable minds as well as the possibility that young Indians could get addicted to such unproductive activities instead of focusing on academics.

The problem is how to draw the line and who draws this line. That is the million dollar question. Most online gaming sites call their games as skill based games. In a sense that is not entirely incorrect. Remember that even gambling needs skills in terms of assessing the odds and taking a view. The highly sophisticated science of statistical analysis originated in the gambling dens of Europe. Central government has appointed a committee to differentiate between skill based and chance based games, although it may not serve the whole purpose. However, even if such a line is drawn, it will be open to legal disputes!

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