The Central Government has passed the Online Gaming Bill in both houses of Parliament. Following this, a wave of uncertainty has spread across online gaming companies in India. In particular, companies linked to Real Money Games will be the most affected by this new law.

India’s largest fantasy gaming platform, Dream-11, was founded in 2008 by Harsh Jain and Bhavit Sheth. In just 16-17 years, Dream-11 attracted nearly 280 million users. In the financial year 2024-25, the company’s revenue touched ₹9,600 crore, with nearly 90% of its earnings coming from real money players. After the government’s new bill, Dream-11 is preparing to shut down its real money gaming services.

It is not just Dream-11; apps like MPL (Mobile Premier League), My11Circle, RummyCircle, and PokerBaazi are also likely to shut down. The government has clarified that only eSports and social/entertainment games will be permitted, while apps like Poker, Rummy, Teen Patti, and Fantasy Sports involving real money will not be allowed.

This new regulation will have a massive economic impact. In 2024, India’s online gaming industry was valued at around ₹23,000 crore. Companies like Dream-11 and MPL had created over 40,000 jobs. With the passing of this bill, thousands of jobs are now at risk. Major investors such as Sequoia, Tiger Global, and Tencent may also see their multi-thousand crore investments stuck.

Violating the new law could lead to imprisonment of up to 3 years and a fine of up to ₹1 crore. Additionally, company licenses may also be revoked.

In summary, the Central Government’s Online Gaming Bill will prove to be a major setback for the real money gaming industry. Companies like Dream-11 and MPL will be forced to shut down their core businesses, impacting millions of users, thousands of employees, and global investors.