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Gamers lose over long term, apps didn't stop huge losses

Mint Mumbai

|

August 21, 2025

The Centre is pushing ahead with a ban on real-money online gaming, citing widespread financial losses and societal harm, a move that threatens to shutter dozens of startups in what was once a sunrise sector.

- Shouvik Das

Union minister for IT and broadcasting Ashwini Vaishnaw said the clampdown on online gaming is not a "knee-jerk" reaction, but a response to thousands of complaints from users who have lost thousands of crores against companies like Dream11 and Rummy Circle.

"Without checks and balances, these companies have time and again refused to safeguard the interest of citizens," Vaishnaw said in an interview. "We found irrefutable proof that the algorithms of online gaming firms are built in such a way that no user can ever emerge as a net winner in the long run."

Lok Sabha on Wednesday passed the Promotion and Regulation of Online Gaming Bill, 2025, approved by the Union cabinet a day earlier. The bill now goes to the Rajya Sabha and further to the President for assent, before it becomes law. Vaishnaw said that if the bill does not go to a special committee for vetting, his ministry will move to notify the bill tentatively "within the next three months."

FLERE HISTORIER FRA Mint Mumbai

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The world sees hope for a two-state solution. Israelis and Palestinians see none.

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PRIVATE CAPITAL REVIVAL STAYS ELUSIVE. ARE INVESTORS TO BLAME?

Even before Aamir Khan immortalised the character of Rancho in the movie Three Idiots, Bertie had met a real-life Rancho. Duke was Bertie’s senior and dorm-mate in college, and it was well-known on campus that he would join his family business after graduating.

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Govt scans prices for profiteering as tax cuts kick in

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Vengeance is far harder to carry out than it may seem

n June last year, aman named Renukas-wamy, who worked ina medical shop, was found dead miles away from home in a drain in Bangalore.

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H-1B fee hike spells gloom for Indian IT

Bigger firms may handle costs better, other sectors affected too

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PM asks small businesses, states to back swadeshi movement

Prime Minister Narendra Modi on Sunday appealed to states and micro, small, and medium enterprises (MSMEs) to play a key role in boosting the domestic manufacturing sector with globally acclaimed quality products that will fuel India’s pursuit of prosperity on the back of a swadeshi movement.

time to read

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Mint Mumbai

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ChrysCapital to whip up a $200 million dessert storm

India-focused private equity firm ChrysCapital is sweetening its portfolio with a $200-million push into the desserts space, following last month's acquisition of patisserie chain Theobroma, two people familiar with the matter said on condition of anonymity.

time to read

2 mins

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'Skill education to join school syllabus'

The government is considering to add skill based learning be incorporated in the curriculum of Class 11 and 12 as per the recommendations of the National Education Policy 2020 (NEP 2020), Union minister Dharmendra Pradhan said on Sunday.

time to read

1 min

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Mint Mumbai

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Govt may not fine green project exits

Until now, such surrender of projects wasn't allowed. In case developers sought to abandon projects, the government forfeited their bank guarantees

time to read

3 mins

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