financetom
Technology
financetom
/
Technology
/
Rajeev Chandrasekhar says wagering barred in all forms, be it game of skill or chance
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Rajeev Chandrasekhar says wagering barred in all forms, be it game of skill or chance
Apr 13, 2023 10:49 AM

Union Minister Rajeev Chandrasekhar on Thursday stated in a tweet that online gaming rules do not need to get into the nuances of chance or skills, as wagering is prohibited in all forms of games, regardless of their nature.

He clarified that wager is a well-defined expression in contract law, and its meaning has been clearly established by judicial decisions. Thus, there is no need to consider the nuances of chance or skill, as the harm of wagering is directly prohibited.

The government has recently notified norms to regulate the online gaming sector, prohibiting real money games involving wagering or betting.

The #ITRules for OnlineGaming hv been developed after extensive consultation , are quite clear n deal wth every aspect.This framework liberates startups from multiple conflicting state laws, court decisions etc n establishes clarity n growth.Im responding to this edit in… pic.twitter.com/rHRiLCrL7x

— Rajeev Chandrasekhar

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US junk debt investors cautious of leveraged loans as economy slows
US junk debt investors cautious of leveraged loans as economy slows
Aug 14, 2024
Aug 14 (Reuters) - Leveraged loan deals are expected to pick back up after a stabilization in markets over the past week, although some investors say they are cautious about junk-rated loans if the economy weakens. Borrowers pulled back on leveraged loan deals last week, following disappointing jobs data on Aug. 1 and Aug. 2 that raised forecasts for aggressive...
Tencent's Q2 revenue up 8% on recovery in game business
Tencent's Q2 revenue up 8% on recovery in game business
Aug 14, 2024
BEIJING (Reuters) - China's Tencent Holdings ( TCTZF ) reported a 8% rise in second-quarter revenue on Wednesday, driven by a recovery in its gaming business after a launch of a new mobile game in May that got off to a strong start. The world's largest video game company and operator of the WeChat messaging platform said revenue reached 161.12...
Ethereum Set for Overhaul of Crucial Programming Standard With 'EVM Object Format'
Ethereum Set for Overhaul of Crucial Programming Standard With 'EVM Object Format'
Aug 14, 2024
The new EVM Object Format (EOF) proposal aims to make the de facto industry standard Ethereum Virtual Machine more developer-friendly.Concerns were raised by some developers that the risk of implementing the proposal weren't worth the benefits.Ethereum developers are steering toward an upgrade that could bring the most fundamental changes in the network's programming environment since the original smart-contracts blockchain shook...
What 5 Analyst Ratings Have To Say About Cipher Mining
What 5 Analyst Ratings Have To Say About Cipher Mining
Aug 14, 2024
Throughout the last three months, 5 analysts have evaluated Cipher Mining ( CIFR ) , offering a diverse set of opinions from bullish to bearish. The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings...
Copyright 2023-2026 - www.financetom.com All Rights Reserved