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Impact of the Online Gaming Bill on the Real-Money Gaming Sector

The Online Gaming Bill recently passed by the Indian government is having a significant impact on the real-money gaming (RMG) sector. Several companies, including Games24x7’s fantasy platform My11Circle, Zupee, Gameskraft’s RummyCulture, MPL, and Probo, have announced their closure of operations.

My11Circle Shuts Down Operations

My11Circle, a prominent player in the fantasy sports market under Games24x7, has communicated internally about the cessation of its operations. This decision comes in response to the comprehensive restrictions set forth by the Online Gaming Bill, which effectively prohibits real-money online gaming.

MPL’s Decision to Halt Real-Money Gaming

MPL has also made the decision to stop its real-money gaming arm in India. Despite this, the company intends to maintain its operations in international markets, which account for approximately 50% of its overall revenue. An MPL representative stated that no new deposits would be accepted; however, customers would still be able to withdraw their available balances. The spokesperson emphasised the company’s commitment to providing engaging, free-to-play gaming experiences for Indian customers.

Gameskraft Discontinues RummyCulture

RummyCulture, Gameskraft’s flagship rummy platform based in Bengaluru, has also been shut down following the passage of the Bill through both Houses of Parliament. A spokesperson from Probo indicated the company’s respect for the recent Online Gaming Bill, stating that Probo will halt its real-money gaming services effective immediately until further updates are provided. This shutdown includes both its opinion trading app and the fantasy cricket platform Team 11.

Further Closures in the Industry

Other platforms, such as SportsBaazi and MyTeam11, may face a similar fate in the coming days. On Thursday, Zupee confirmed that it would discontinue its real-money gaming platform while opting to continue offering free-to-play games.

Dream11 Follows Suit

Earlier today, Dream11, the country’s largest fantasy sports platform, also informed its staff about the decision to cease its core real-money gaming operations. Reports indicate that RMG has been Dream11’s primary revenue driver, and this development underscores the extensive ramifications of the new legislation that prohibits money-based online games and enforces stringent penalties and potential imprisonment for transgressions.

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