₹23,000 Crore industry wiped out overnight: India bans real-money games
India's new gaming law bans real-money online games, prompting major firms to suspend operations and employees to face layoffs.
India’s Parliament just passed the Promotion and Regulation of Online Gaming Bill, 2025, which bans real-money online games. The bill now awaits the President’s sign-off, a formal step expected soon. As a direct result, leading real-money gaming firms like Dream Sports (parent of Dream11), Mobile Premier League (MPL), Zupee, Gameskraft, Probo, and others have already begun suspending operations.
What’s changing
Fantasy sports apps like Dream Picks and Dream Play are already halted, though Dream11 and other cash-based offerings remain live for now as the legislation goes into effect. Dream Sports confirms a complete shutdown of real-money services once the ban is active. (~$23B market, ~ ₹310B revenue, and ₹200B tax contributions are at risk.)
Industry fallout
MPL has stopped accepting deposits and will allow withdrawals starting August 22. Zupee has suspended paid games but continues its free titles like Ludo Supreme and Snakes & Ladders. Dream Sports told employees they’re exploring other verticals like FanCode and Cricbuzz. Reports say layoffs are already underway as teams grapple with the fallout.
Why the Government stepped in
The law aims to curb issues like addiction, financial distress, manipulation, and underage gaming. It introduces steep penalties like prison up to three years and fines possibly reaching ₹1 crore. It also mandates a new regulatory authority to oversee esports and social gaming, while banning real-money formats.
What this means for everyone
For users, real-money games are ending overnight. For employees at affected startups, the future looks uncertain. Sports sponsorships, especially in cricket, which leaned heavily on money-game endorsements, face downgrades. The shadow of regulation replaces overnight success stories.
India’s crackdown is swift and sweeping. Real-money gaming is effectively banned, major platforms are shutting down operations, employees are bracing for job cuts, and hype-fueled valuations are crashing. It marks a dramatic pivot in regulatory priorities, and throws the future of fantasy gaming into uncertainty.
