Overview

• The Promotion and Regulation of Online Gaming Act, 2025 is now law after presidential assent, banning online money games and setting penalties up to three years in jail and Rs 1 crore for operators, with separate penalties for advertising.
• Major platforms including Dream11, MPL, Zupee, WinZO, My11Circle and PokerBaazi have halted paid contests, telling users deposits are safe and withdrawable; Dream11 said deposit balances will be returned by August 29 and non-cash bonuses will be removed.
• Multiple companies are preparing to petition high courts this week to seek a stay on the prohibition, with expected arguments on the right to trade and the law’s treatment of skill versus chance; industry bodies are reported as unlikely petitioners.
• Gaming stocks fell further, with Nazara down as much as 11 percent intraday and Delta Corp also lower, while analysts warn of risks to roughly 200,000 jobs, Rs 25,000 crore in FDI and about Rs 20,000 crore in tax revenue.
• Company fallout and pivots are accelerating: Flutter shut Junglee and flagged a projected Rs 1,750 crore revenue hit, and Dream11 said revenues have plunged about 95 percent, ended its BCCI jersey sponsorship, ruled out layoffs and is shifting to free-to-play and sports AI products.