Real money gaming is not gambling: let’s bust a few myths
Since time immemorial, people have been engaging in numerous indoor games as well as gambling. From a cultural and sentimental standpoint, gambling has long been viewed as a vice and labeled as an unethical or illegal act in Indian society — and rightly so, as studies around the world have shown that gambling, especially when done repeatedly and/or desperately, can lead to a slew of individual behavioral and societal topics stemming from addiction to financial losses/debts, relationship issues, and health issues such as gambling disorder. Gaming, on the other hand, has been shown to be a beneficial and enabling skill that is not only entertaining but also encourages creativity and social connections. Both gambling and gaming have become increasingly ‘online’ or ‘digital’ in recent years, and they are gradually combining in many ways. However, there is a fundamental problem with the growing ‘spillover effects’ in the gaming and gambling industries: Individuals can’t tell the difference between skill-based online gaming and gambling. As a result, they’ve begun to use the phrases gaming and gambling interchangeably, which is problematic. Unfortunately, many industry experts are even suggesting that all sorts of real money-based games should be outright outlawed, simply because they have some resemblance to online gambling. As a result, it’s critical to debunk a few common misconceptions concerning real-money gaming in India:
‘No difference between gambling and real-money gaming’
Chips/coins are the first elements of real money games. You must purchase them in order to play the game. After completing the purchase, the person can begin playing the game. The coins purchased will have a monetary value, which means that if you win at the end of the game, you will be rewarded with money, which you may transfer to your bank account. But if you lose the game, you will not be paid and your entire investment will be lost. Real money games are legal unlike gambling, in which a person risks something of value (the stakes) on an event with an uncertain outcome in the hopes of gaining something of value. These games are skill-based with no gambling involved. To win at real money games, you’ll need a strong course of action. One needs a powerful strategy to make a team and skills to go past other teams. It’s crucial to understand the difference between a game of chance and a game of skill.
‘Gaming is not lucrative as a profession’
Some critics argue that people can’t make a living from gaming, which isn’t true in today’s modern world. Over the last two decades, there has been an increase in demand for profitable, nontraditional jobs. One of the main reasons for the increase is the abundance of choices present, one of which is a job in gaming. When it comes to unconventional jobs, who would have guessed that making games, or even playing them, could be a career? Many mobile gaming tournaments and real money games offer grand prizes and amounts. As per the joint report by BCG and Sequoia India Currently, the mobile gaming market stands at around $1.5 billion (in revenue) and is expected to touch $5 billion by 2025. India will soon be regarded as one of the gaming industry’s leaders since the country has demonstrated the aptitude and skill sets required to achieve worldwide gaming standards. Gamers are gradually entering contests to demonstrate their gaming abilities and to represent their country on an international level. Many players and streamers in India have made a living out of mobile gaming and have been able to combine their hobbies with their employment.
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