Fantasy to free-play: India’s RMG platforms pull the plug
India’s real money gaming (RMG) industry came to a sudden standstill on Thursday after Parliament passed the Promotion and Regulation of Online Gaming Bill, 2025. Leading operators including Dream11, Mobile Premier League (MPL), Gameskraft, Zupee, and Games24x7 suspended money-based games, while opinion trading platforms Probo and MPL Opinio also shut down services. The sweeping shutdown marks the biggest shake-up yet for India’s fast-growing gaming market.
Major shutdown across the sector
The shutdowns were announced on Thursday evening, shortly after Parliament cleared the new bill. Dream11, fantasy sports platform, informed users that all paid contests on its app had been paused. Users received notifications assuring that their account balances were safe and available for withdrawal.
Dream Sports, the parent company of Dream11, has historically generated over 90 percent of its revenues from money-based contests. In FY24, Dream11 reported revenues exceeding $1.10 billion, boosted by record engagement during the men’s cricket World Cup. However, with the new legislation, the company now plans to rely on its other verticals, including sports media platform FanCode, experiential travel business DreamSetGo, and game development arm Dream Game Studios.
MPL, Gameskraft, and Games24x7 halt services
Mobile Premier League (MPL), another leading platform, stopped money games and its opinion trading arm, MPL Opinio, also ceased operations. Gameskraft Technologies, which operates popular rummy platform RummyCulture, took similar action.
Games24x7, known for its fantasy sports and rummy offerings, also stopped deposits but has not issued a detailed statement on the next steps. The collective withdrawal of these operators signals a sweeping shift in India’s gaming landscape, which has until now been dominated by money-based fantasy sports and card games.
George John, an iGaming expert, told SiGMA News, “The Online Gaming Bill introduces India’s first structured framework for regulating real money gaming. The legislation emphasises compliance and stricter penalties, aiming to bring more transparency to the sector. Its long term impact will depend on how effectively operators adapt to the new requirements.”
Zupee shifts to free-to-play model
Zupee, which operates skill-based games like Ludo Supreme and Snakes & Ladders, announced that it would discontinue paid offerings but continue to run free-to-play titles. A company spokesperson said, “Zupee remains fully operational and our players can continue to enjoy their favourite games on the platform. In line with the new Online Gaming Bill 2025, we are discontinuing paid games, but our hugely popular free titles will continue to be available for all users for free.”
The company has built a base of over 150 million users and aims to retain them through its non-monetary game offerings.
Government’s position on the Bill
The Promotion and Regulation of Online Gaming Bill, 2025, bans all games of skill and chance involving monetary stakes but allows free-to-play and esports formats to continue. Union Minister for Electronics and IT, Ashwini Vaishnaw, defended the move, saying the government had to prioritise society’s well-being.
“When there is a large social issue affecting youngsters and middle-income families, the government has to choose people over industry,” Vaishnaw told local media. He added that workers impacted by the ban would receive support from the state.
Indian Prime Minister Narendra Modi welcomed the passage of the bill, describing it as a landmark step. In a post on social media platform X, he wrote, “This Bill, passed by both Houses of Parliament, highlights our commitment towards making India a hub for gaming, innovation and creativity. It will encourage e-sports and online social games. At the same time, it will save our society from the harmful effects of online money games.”
This Bill, passed by both Houses of Parliament, highlights our commitment towards making India a hub for gaming, innovation and creativity. It will encourage e-sports and online social games. At the same time, it will save our society from the harmful effects of online money… https://t.co/t1iUuH9JP1
— Narendra Modi (@narendramodi) August 21, 2025
Satyajit Chakraborty, Game Developer at Flying Robot Studios, believes the Bill rightly prioritises public welfare, responsible gaming, and the growth of e-sports and social games.
“Yet, instead of an outright ban, a phased regulatory framework with strong consumer protections could have allowed companies time to diversify and adapt. That said, I believe this is a step in the right direction for the Indian video game industry. For too long, the spotlight was misplaced—RMG was never gaming; it was gambling. Gambling is easy, dirty money, and investors should have recognised the fragility of such a model. True, sustainable growth comes from creative and technical innovation, not from vices that can be outlawed overnight,” Chakraborty told SiGMA News.
Tech giants to delist apps
With the bill awaiting formal notification, digital platforms are preparing to enforce compliance. Industry sources said that advertisements for RMG platforms will soon disappear from Google and Meta’s networks. Google and Apple are expected to delist all real money gaming apps from their app stores in India.
“Smaller start-ups and emerging developers may face compliance burdens and financial strain due to penalties and regulatory requirements.”
– Ananay Jain, Partner and Media Industry Leader at Grant Thornton Bharat
Google had previously considered allowing certain RMG apps on Google Play to address anti-competition concerns, along with proposed changes to Google Ads policies. However, these plans are unlikely to move forward under the new legal framework.
Legal and industry reactions
Not all experts agree with the government’s approach. Divya Sharma, a corporate lawyer, told SiGMA News, “This legislation is an overly restrictive move for the online gaming industry, particularly the real-money gaming segment. It overlooks the long-established distinction between games of skill and games of chance, a principle consistently upheld in Indian jurisprudence. Such a sweeping move will not only cripple legitimate businesses but also drive users towards unregulated offshore platforms, undermining both consumer protection and revenue collection.”
She suggested that the government consider alternatives, including:
- Introducing a licencing and compliance framework for real-money platforms, rather than a blanket ban.
- Encouraging responsible gaming practices through age-gating, spending limits, and self-exclusion tools.
From a business perspective, Ananay Jain, Partner and Media Industry Leader at Grant Thornton Bharat, explained, “From an industry perspective, the Bill is a double-edged sword. On the positive side, it legitimises esports and skill-based games, enabling professional growth, content creation, and educational initiatives, while providing a clear regulatory environment that reduces legal uncertainty and fosters innovation.”
“The blanket restrictions on certain real-money games may stifle segments of the gaming market that were previously generating significant revenue, particularly in mobile gaming and tournament-based platforms. Smaller start-ups and emerging developers may face compliance burdens and financial strain due to penalties and regulatory requirements,” Jain added.
Manisha Kapoor CEO and Secretary General, Advertising Standards Council of India shared with SiGMA News, “The new bill makes it clear that any online games involving real money are not permitted based on fears of public health and financial risks. However the bill also provides for the promotion and innovation on gaming, so long as no real money is involved. We expect that the new regulatory authority will be able to create frameworks that balance the need for robust consumer protection and innovation and growth in the gaming industry.”
Industry in transition
The new bill clearly divides the sector. While esports, casual gaming, and free-to-play platforms are allowed, all cash-based contests and opinion trading services are prohibited. This change has forced the largest operators to reorient their business models overnight.
Opinion trading platforms have been among the first to halt services. Probo, one of the most prominent in this category, announced its exit soon after the legislation was passed. MPL’s opinion trading vertical, Opinio, followed suit.
