India, Aug. 19 -- The homegrown real money online gaming ecosystem is staring at a potential wipeout as the government is planning to introduce a Bill to ban online games involving money.

The Union cabinet approved the online gaming bill earlier today.

Sources told Inc42 that the draft norms plan to prohibit all real money games, irrespective of whether they are games of chance or skill or both. The only exception granted has been for esports competitions.

The proposed rules also ban all advertisements, or production thereof, involving money-based online gaming platforms. Not just this, the draft rules also bar banks, financial institutions and "individuals" from facilitating any transactions related to online money-based gaming platfo...