The Promotion and Regulation of Online Gaming Bill 2025, passed in the Lok Sabha, has created shockwaves across India’s online gaming industry. The Bill seeks to impose a nationwide ban on real-money games (RMGs), defined as any skill-based or chance-based games where users deposit money with the expectation of monetary rewards. Once it clears the Rajya Sabha and receives Presidential approval, some of India’s most popular gaming apps will be forced to shut operations.
Dream11, the biggest fantasy sports platform in the country, faces an existential crisis as fantasy sports fall under the Bill’s definition of RMGs. The company, which thrives during the IPL season, could be completely banned. Competitors like My11Circle, Howzat, SG11 Fantasy, and MyTeam11 will also be outlawed, threatening millions of users who actively participate in fantasy cricket contests.
The ban extends beyond fantasy sports. Multi-game apps such as WinZO, which offers Ludo, quizzes, and card games for money, will be hit hard. Platforms like Games24x7’s RummyCircle and Junglee Games’ Rummy and Poker apps face an equally grim future. Popular poker platforms such as PokerBaazi and card-game operator GamesKraft’s RummyCulture are also directly targeted.
Even larger companies like Nazara Technologies, which has investments in real-money gaming platforms, have already taken a financial hit, with its stock reportedly falling 7 percent after the Bill’s announcement.
The real-money gaming sector accounts for 86 percent of India’s $3.7 billion online gaming market, generating over ₹25,000 crore annually in taxes and employing more than 200,000 people. Industry insiders warn that the ban could result in widespread job losses, a drying up of ₹25,000 crore in foreign direct investment, and a loss of nearly ₹20,000 crore in annual GST revenue for the government.
