The most-awaited Gaming industry event, the All India Gaming Summit 2017 organized by All India Gaming Federation (AIGF) was recently held on 28th October 2017.
The summit brought together relevant stakeholders across judiciary, legal and gaming segments to address key topics such as ills of the present system, issues & challenges of legalizing gaming in India and self-regulation in skill-gaming. The summit also showcased the best global practices from regulated economies and working towards seeking practical and implementable solutions from the learning’s.
The event was graced by Hon’ble Justice Balbir Singh Chauhan, Chairman Law Commission of India (Chief Guest) and Hon’ble Justice Siddharth Mridul, Delhi High Court Judge (Guest of Honour).
Excerpts from the Key-note addresses:
Speaking on legalizing gaming in India, Hon’ble Justice Balbir Singh Chauhan, Chairman Law Commission of India, said, “Issue of Gambling and Betting has to be addressed by the renowned experts of the industry gathered here at the summit today. We welcome the opinions of the industry experts and would look forward to incorporating the views in our report”. As per the industry reports regularizing and legalizing the sector will bring in revenue and employment. But responsibility of ensuring welfare and safeguarding the interests of the vulnerable sections of the society should be kept in mind while regularizing the betting and gaming. I wish all the success to the summit and look forward to the fruitful discussion”.
Adding another insight, Hon’ble Justice Siddharth Mridul, Delhi High Court Judge said, “Man by instinct is a gamer or a gambler and to completely turn blind eye to what human beings have restrictively done since ages may not be an ideal approach. He said that Chanankya in Arthashastra had suggested regulating gambling rather than abolish it or push it behind closed doors.
Legalizing and regulating betting will reduce the prevalence of black money making its way into the economy, and promoting nefarious activities. It is also expected to bring significant revenue for the government while at the same time helping monitor and regulate sports related activities and discrepancies.
All these factors add to the huge potential of the gaming market in India.