India’s booming real money gaming (RMG) industry has been jolted after the passage of the Promotion and Regulation of Online Gaming Bill, 2025, which prohibits all money-based online games. The move has forced the country’s leading gaming platforms—including Dream11 parent Dream Sports, Mobile Premier League (MPL), Gameskraft, Zupee, PokerBaazi, and others—to suspend or shut down their RMG offerings.
In this article, we look into what the new law means, how major players are reacting, and what lies ahead for India’s $2.4 billion RMG sector.
Credits: Business Today
What the New Bill Says
The new law defines prohibited games as those where a user makes a monetary deposit, directly or indirectly, with the expectation of winning a prize. Violations can result in penalties of up to three years of imprisonment or fines up to ₹1 crore, a provision that has sent shockwaves across the sector.
The government has positioned the legislation as a safeguard against gambling addiction, fraud, and financial risks. However, for companies that had built billion-dollar valuations on RMG, this represents a seismic business disruption.
Dream Sports Pulls Back Flagship Products
Fantasy sports leader Dream Sports, which reported ₹6,384 crore in revenue and ₹188 crore in net profit in FY23, has been among the hardest hit. The company has paused operations on:
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Dream Picks – a fantasy app where users built four-player teams.
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Dream Play – a casual RMG platform launched recently.
A notice to users on the Dream11 app confirmed that all “Pay to Play” contests will be paused, assuring users that balances remain safe for withdrawal. Sources indicate that Dream Sports may even suspend paid contests on Dream11 itself, once the President signs the bill into law.
MPL Shuts Down RMG Operations
Mobile Premier League (MPL), which offers over 60 titles ranging from fantasy sports to puzzles, has also exited the RMG market.
“New deposits will no longer be accepted, but customers can withdraw their balances seamlessly,” a company spokesperson said. MPL stressed that it would pivot towards free-to-play gaming experiences while reaffirming its commitment to building global-scale platforms from India.
Nazara-Backed PokerBaazi, Gameskraft & Zupee Follow
Several other companies have made similar announcements:
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PokerBaazi (Moonshine Technology): With Nazara holding a 46% stake, the platform has “ceased offering real money operations” until the company decides its future course of action.
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Gameskraft: The rummy-focused operator has paused its “Add Cash” and “Gameplay services” but continues to allow withdrawals, stressing that user funds remain safe. The company posted an impressive ₹947 crore profit in FY24.
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Zupee: Best known for board game variants like Ludo Supreme and Snakes & Ladders, Zupee announced a halt to all “paid games” but assured users that its free games—popular among 150 million Indians—remain active.
Industry-Wide Suspension
The bill’s impact has been swift and sweeping. Major names such as Head Digital Works (A23 Rummy & Poker, Adda52), Probo, WinZO, and Games24x7 (RummyCircle, My11Circle) have suspended paid contests and money games.
Each platform emphasized two key points:
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Users’ balances are safe and withdrawable.
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Free-to-play games will remain available.
What’s at Stake?
The RMG industry generated $2.4 billion in revenue in FY24, making up the lion’s share of India’s $3.8 billion overall gaming market. With over 400 million online gamers in the country, this sector had attracted heavy investor interest, unicorn valuations, and global attention.
But with the new law, companies will now be forced to rethink strategies—pivoting towards advertising-driven free games, skill-based esports, or international expansion. For some, this may even mean large-scale layoffs and financial restructuring.
Credits: Moneycontrol
The Road Ahead
While the government believes the law will protect users, critics argue that a blanket ban risks stifling innovation in India’s gaming ecosystem. The coming months will be critical as companies explore alternative business models and legal challenges to the bill.
For now, one thing is certain: India’s RMG boom has hit an abrupt pause, and the industry’s next chapter will be defined by its ability to adapt to a world without money-based games.
