New Delhi: The Union Cabinet, chaired by Prime Minister Narendra Modi, on Tuesday approved the Online Gaming Bill, making online betting a punishable offence, sources told ET.

According to media reports, the bill will be placed before the Lok Sabha on Wednesday.

The Bill is aimed at curbing the rise in fraud cases linked to betting platforms and tightening oversight on celebrities promoting such applications.

The Bill seeks to regulate online betting and introduces provisions for penalties and punishment, including action against the promotion of betting apps.

Reports suggest the Centre is also planning to impose a 40% Goods and Services Tax (GST) on online gaming as part of a revamped taxation regime expected to take effect around Diwali.