Online gaming industry collectively proposed a self-regulating body to standardise regulations for the entire online skill-gaming sector and not just fantasy sports. Fantasy games are only a small part of the eco-system. There are other games — rummy, poker, bridge, chess and quizzes. They are skill-based and played for real money. If a silo is created only for fantasy games, then other games will have to formulate their own regulatory framework.

Gaming remains a state subject. It is necessary here to talk to the states and take them on board. There should be an overarching regulatory body for all skill games.

Investor interest is very high in the gaming industry. Fantasy ganing industry alone has the potential to attract FDI of Rs.10000 crore plus.

Red money games have been perceived negatively in the past. To illustrate, rummy’s legality has been established in court. The overall growth of 25-28 per cent shows the demand for this type of entertainment.

Fly-by-night operators have brought the industry into disrepute. Regulations will help to build a clean industry.