Online Rummy is popular in India and there are millions of gamers already using different online rummy platforms. These games deal with real money. It means gamers put money on rummy games in the hope to win.
The Online Rummy Federation (TORF) is a non-profit organisation, set up by the online rummy game operators to create a level playing field and standardise regulations for the entire online rummy skill gaming sector. Being a voluntary organisation it has its limitations and TORF has repeatedly requested that regulations be brought in to regulate this sector.
“The Government is worried about online gaming. Over the last two years the TORF members have taken extraordinary and voluntary steps to self-regulate and give players the tool to play responsibly,” said the federation in a press conference.
TORF has worked over the last two years to set up a self-regulatory framework in the form of a Code of Conduct based on similar regulatory frameworks in regulated markets internationally. A common self-regulatory body will result in the removal of a lot of uncertainty for foreign investors, spur foreign investment to the tune of a few billion dollars, and drive innovation, employment and taxes”.
This law increases the chances of foreign investment into the skill gaming space which is already generating over Rs 1,500 crores in GST revenue every year and has the potential to generate much more.
The key areas of consideration include: KYC verification, minimum age, player protection requirements, mandatory responsible playing features like setting daily monthly limits, self-exclusion, no BOTS on sites, SSL level encryption and other such requirements to ensure player experience is safe and fair.
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A discussion for a proposal to regulate this industry can address many concerns including the following key points: setting time and monetary limits for players on a daily/weekly/monthly basis; stronger KYC checks and social profiling of users to ensure that players are financially stable adults; strict advertising standards to promote gaming as entertainment and not a way to earn money; an annual license fee and a player support contribution to help vulnerable players.
“TORF is committed to providing its full support to the government in creating a safe and responsible gaming industry. We have already made an official representation to the chief minister to kindly consider regulating the sector as a win-win solution,” promised CEO Sameer Barde.
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