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Mark Zuckerberg’s Metaverse Gamble Pays Off With $201 Billion Fortune
Buoyed by a record-high Meta Platforms Inc. share price, Zuckerberg’s net worth has climbed almost sixfold in less than two years to $201 billion (roughly Rs. 16,86,617 crore), the first time he’s exceeded the $200 billion mark (roughly Rs. 16,78,226 crore), according to the Bloomberg Billionaires Index. He’s moved to fourth place on the list...
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Online Gaming Companies Say 28 Percent GST Will Limit Their Business, Lead to Lakhs of Job Losses
Online gaming companies on Tuesday said that levying of 28 percent GST will limit their ability to invest in new games, impacting cash flows as well as business expansion. The All India Gaming Federation (AIGF), which represents companies like Nazara, GamesKraft, Zupee and Winzo, said the decision by the council is unconstitutional, irrational, and...
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Tamil Nadu Governor Clears Online Gaming Bill Hours After MK Stalin's Assembly Offensive
Tamil Nadu Governor RN Ravi signed off on a proposed law to ban online gambling and to regulate internet games today, shortly after the MK Stalin government called him out for not clearing the bill nearly six months.
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New Online Gaming Rules to Spur Innovation, Boost Investor Confidence
The industry on Thursday said the new rules for online gaming will spur innovation, boost investor confidence and weed out gambling platforms while making the sector globally competitive. The norms are expected to help reduce regulatory fragmentation at the state level, and foster a more stable business environment, the industry said in one voice a...
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Government Issues Another Advisory Against Online Betting, Gambling Ads
The Ministry of Information and Broadcasting on Thursday advised media entities, media platforms and online advertisement intermediaries to refrain from carrying advertisements/ promotional content of betting platforms. In an advisory issued today, the Ministry has taken strong exception to the recent instances of mainstream English and Hindi newsp...
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Banned Loan Websites, Apps Given 48 Hours to Prove Their Genuineness: MeitY
The IT ministry has given 48 hours to banned websites and apps to prove their genuineness, a senior government official said on Thursday. Another senior official from the ministry said the ban has been imposed on the platforms because their businesses were not genuine. The government last week ordered blocking of 232 apps operated by overseas ent...
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Gamers Who Spend Money on 'Loot Boxes' Twice as Likely to Gamble, Research Shows
Gamers who pay for "loot boxes" in games are twice as inclined to bet, according to research findings based on 1,600 adults in Canada published in the peer-reviewed journal Addiction Research & Theory. The findings call into question the hypothesis that psychological factors cause the link between gambling and loot boxes, according to the researche...
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Online Gambling Ban: Tamil Nadu Ordinance Challenged in Madras High Court
The Tamil Nadu government ordinance banning online gambling has been challenged in the Madras High Court and is scheduled to be heard on November 16. A petition filed by the All India Gaming Federation states rummy and poker are games of skill, and would not fall under the ambit of "betting and gambling". The state government had passed the ordinan...
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Government Asks News Sites, TV Channels, OTT Platforms to Refrain From Showing Offshore Betting Site Ads
The Ministry of Information and Broadcasting on Monday issued two advisories advising private television channels as well as digital news publishers and OTT platforms to refrain from showing advertisements of offshore online betting sites and surrogate advertisements of these sites. The advisories were supplemented with evidence which contained dir...
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Twitch Bans Crypto Gambling Sites Amid Staunch Backlash From Creators
Hot on the heels of a Twitch streamer confessing to scamming friends and fans out, the platform has announced it will ban all crypto gambling livestreams from October 18.
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Online Gaming Platforms Involving Game of Chance Treated as Illegal, MoS IT Says
Online gaming platforms that involve a game of chance are treated as illegal, Minister of State for Electronics and IT Rajeev Chandrasekhar told the Lok Sabha on Wednesday. The minister also added that 'police' and 'public order' are state subjects and states and union territories are primarily responsible for the prevention, detection, investigati...
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Refrain From Advertising Online Betting Platforms: I&B Ministry to Print, Electronic, Digital Media
The Information and Broadcasting Ministry on Monday advised the print, electronic and digital media to refrain from advertising online betting platforms, saying betting and gambling are illegal in "most parts" of the country and pose significant financial and socio-economic risk for consumers.
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Groups Urge US Regulators to Investigate EA’s FIFA: Ultimate Team for Misleading Use of ‘Loot Box’
Fairplay, Center for Digital Democracy and 13 other organizations have requested US regulator Federal Trade Commission to investigate video game maker Electronic Arts for the misleading use of a digital ‘loot box’. The EA game ‘FIFA: Ultimate Team’ has been blamed to provide users ‘loot box’ that urges players to spend more money while ...
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CES 2022: AMD, P&G Join Google and Others in Opting Out of Event Over Omicron Fears
AMD, Procter & Gamble, and Micro-Star International are among the latest companies to pull out of the CES event —taking place in-person in Las Vegas in January 2022 — over Omicron fears.
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Dream11 Suspends Operations in Karnataka After Complaint of Gambling Law Violation
Dream11 has suspended operations in Karnataka after a complaint was registered against its founders claiming it was in violation of a new state gambling law.
-
Mark Zuckerberg’s Metaverse Gamble Pays Off With $201 Billion Fortune
Buoyed by a record-high Meta Platforms Inc. share price, Zuckerberg’s net worth has climbed almost sixfold in less than two years to $201 billion (roughly Rs. 16,86,617 crore), the first time he’s exceeded the $200 billion mark (roughly Rs. 16,78,226 crore), according to the Bloomberg Billionaires Index. He’s moved to fourth place on the list...
-
Online Gaming Companies Say 28 Percent GST Will Limit Their Business, Lead to Lakhs of Job Losses
Online gaming companies on Tuesday said that levying of 28 percent GST will limit their ability to invest in new games, impacting cash flows as well as business expansion. The All India Gaming Federation (AIGF), which represents companies like Nazara, GamesKraft, Zupee and Winzo, said the decision by the council is unconstitutional, irrational, and...
-
Tamil Nadu Governor Clears Online Gaming Bill Hours After MK Stalin's Assembly Offensive
Tamil Nadu Governor RN Ravi signed off on a proposed law to ban online gambling and to regulate internet games today, shortly after the MK Stalin government called him out for not clearing the bill nearly six months.
-
New Online Gaming Rules to Spur Innovation, Boost Investor Confidence
The industry on Thursday said the new rules for online gaming will spur innovation, boost investor confidence and weed out gambling platforms while making the sector globally competitive. The norms are expected to help reduce regulatory fragmentation at the state level, and foster a more stable business environment, the industry said in one voice a...
-
Government Issues Another Advisory Against Online Betting, Gambling Ads
The Ministry of Information and Broadcasting on Thursday advised media entities, media platforms and online advertisement intermediaries to refrain from carrying advertisements/ promotional content of betting platforms. In an advisory issued today, the Ministry has taken strong exception to the recent instances of mainstream English and Hindi newsp...
-
Banned Loan Websites, Apps Given 48 Hours to Prove Their Genuineness: MeitY
The IT ministry has given 48 hours to banned websites and apps to prove their genuineness, a senior government official said on Thursday. Another senior official from the ministry said the ban has been imposed on the platforms because their businesses were not genuine. The government last week ordered blocking of 232 apps operated by overseas ent...
-
Gamers Who Spend Money on 'Loot Boxes' Twice as Likely to Gamble, Research Shows
Gamers who pay for "loot boxes" in games are twice as inclined to bet, according to research findings based on 1,600 adults in Canada published in the peer-reviewed journal Addiction Research & Theory. The findings call into question the hypothesis that psychological factors cause the link between gambling and loot boxes, according to the researche...
-
Online Gambling Ban: Tamil Nadu Ordinance Challenged in Madras High Court
The Tamil Nadu government ordinance banning online gambling has been challenged in the Madras High Court and is scheduled to be heard on November 16. A petition filed by the All India Gaming Federation states rummy and poker are games of skill, and would not fall under the ambit of "betting and gambling". The state government had passed the ordinan...
-
Government Asks News Sites, TV Channels, OTT Platforms to Refrain From Showing Offshore Betting Site Ads
The Ministry of Information and Broadcasting on Monday issued two advisories advising private television channels as well as digital news publishers and OTT platforms to refrain from showing advertisements of offshore online betting sites and surrogate advertisements of these sites. The advisories were supplemented with evidence which contained dir...
-
Twitch Bans Crypto Gambling Sites Amid Staunch Backlash From Creators
Hot on the heels of a Twitch streamer confessing to scamming friends and fans out, the platform has announced it will ban all crypto gambling livestreams from October 18.
-
Online Gaming Platforms Involving Game of Chance Treated as Illegal, MoS IT Says
Online gaming platforms that involve a game of chance are treated as illegal, Minister of State for Electronics and IT Rajeev Chandrasekhar told the Lok Sabha on Wednesday. The minister also added that 'police' and 'public order' are state subjects and states and union territories are primarily responsible for the prevention, detection, investigati...
-
Refrain From Advertising Online Betting Platforms: I&B Ministry to Print, Electronic, Digital Media
The Information and Broadcasting Ministry on Monday advised the print, electronic and digital media to refrain from advertising online betting platforms, saying betting and gambling are illegal in "most parts" of the country and pose significant financial and socio-economic risk for consumers.
-
Groups Urge US Regulators to Investigate EA’s FIFA: Ultimate Team for Misleading Use of ‘Loot Box’
Fairplay, Center for Digital Democracy and 13 other organizations have requested US regulator Federal Trade Commission to investigate video game maker Electronic Arts for the misleading use of a digital ‘loot box’. The EA game ‘FIFA: Ultimate Team’ has been blamed to provide users ‘loot box’ that urges players to spend more money while ...
-
CES 2022: AMD, P&G Join Google and Others in Opting Out of Event Over Omicron Fears
AMD, Procter & Gamble, and Micro-Star International are among the latest companies to pull out of the CES event —taking place in-person in Las Vegas in January 2022 — over Omicron fears.
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Dream11 Suspends Operations in Karnataka After Complaint of Gambling Law Violation
Dream11 has suspended operations in Karnataka after a complaint was registered against its founders claiming it was in violation of a new state gambling law.
