The promotion and regulation of account for online games, 2025, was handed over to Lok Sabha a day earlier and now requires the president’s consent to become law. Legislation prohibits platforms that allow users to pay entry fees or bet money on fantasy sports, poker, rummy, etc.
“Yesterday there was a burgher, where (rough) Jain (founder and CEO of Dream11) addressed the company’s employees and updated them about the outlines of the law – and that Dream11 closes RMG to follow it.
“The investment of Nazara in Pokerbaazi, a game company with real money, is at risk,” said the Executive Director of the Company who did not want to be identified, adding that the overall income of the parents would not be affected.
With a ban in India, some as MPL are trying to move their focus on overseas markets.
“MPL will focus on its business in Europe, the US and Latin America) and can focus on its free play/publishing house in India,” a third party with direct knowledge of this matter said, adding that this industry would question it in court.
In his statement, MPL said it would fully meet the ban on online money in India. “We will immediately effectively suspend all game offers on MPL platform in India,” he said.
“Our users are our priority. While new deposits will no longer be accepted, customers will be able to download their balances smoothly. But online money will not be available on the MPL platform …”
MPL said it would continue to provide competitive and free game experiences based on their customers in India.
“Zupee remains fully functional. In accordance with the new online game account 2025, we go beyond paid games, but free titles such as Ludo Supreme, Ludo Turbo, Snakes & Ladders and Trump Card Mania will continue to be available for all users for free,” the company spokeswoman said.
Nazara did not answer the request for comment. Dream11 and 24×7 games refused to comment.
A similar fate also faces the height and peak of the XV. “As it is unhappy, we respect the latest Indian law on online gaming. In the light of this development, ProBO decided to interrupt its actual money operations (RMG) with immediate effect until the next announcement.
These steps come after the Union Cabinet has cleared the promotion and regulation of the 2025 online game account on Tuesday, looking for a total ban on any game involving money. The bill prohibits not only playing, but also payments and advertising for services such as fantasy sports applications Dream11 and My11 Circle, Online Rummy RummyCulture and Rummycircle, and occasional games such as pool champions and online Carrom.
Shares of Nazary fell during the market hours before recovering to close only 1.3% lower on £1,205,60 per piece on BSE on Thursday.
The company explained on Wednesday that it has no direct involvement in the game space of real money, although it has a 46.07% share in Moonshine Technologies PVT. LTD that runs Pokerbaazi. Nazara invested £800 crore in the monthly light through a combination of cash and shares last year and also holds convertible shares £255 crore.
A wider impact adversely
The wider impact is unfavorable because this sector, which employees of more than 200,000 people, could see the complete overworking of their operations along with the passing and steep cuts. The financial impact is also serious because several global investors have drew $ 2.8 billion in the Indian Game Market with real money-the most largest partial component of the home online game sector in the stunning $ 2.8 billion. However, market growth with real money depends on the solution of taxation and regulatory comprehensibility.
While Dream11 and Mobile Premier League have covered most of the risk capital money, other companies, including fancraze and rario, also received funds from investors and bet large on the Indian game sector, show data from risk intelligence.
Significant investors in the Indian online gaming space include Tiger Global, TPG, Chryscapital, Kalai Capital, DST Global, Alpha Wave Global, RTP Global, Steadview Capital, Lumikai, Peak XV and Malabar Investments.
The Supreme Court is expected to express its decision at the end of this year whether fantasy sports and online poker and rummy should be treated as skills or accidents or gambling. Its verdict will determine whether novice real money has to pay nearly $ 20 billion (probably £1.5 trillion) in retrospective tax claims of the General Directorate of GPN news.
The real money game platforms were almost two -thirds or $ 2.4 billion of the total Indian online gaming industry of $ 3.8 billion in FY24, according to the game investment company Lumikai. Dream11, GameSkraft and Games24x7 revenue were $ 1.36 billion.
“The ban can push industry underground”
Several experts believe that prohibitionist approach could push legitimate operators underground, reduce tax collection and suppress innovations in a sector recognized worldwide for its potential. They called for a re -evaluation of the bill to adopt a more nuanced and consulting approach, which distinguishes between skill and accidental games and at the same time providing responsible practices.
“We recognize the government’s decision to ban real money and fully respect that this step has been taken after careful consideration of social and regulatory concerns associated with this sector,” said Shweta Rajpal Kohli, president and CEO for the commencement of politics. Forum, which counts Dream11 and Mobile Premier League among its members, is an industrial alliance for the new age economy.
“At the same time, we believe that the Indian gaming industry has a significant potential for innovation, business and job creation,” she said.
Kohli added that the forum is determined to cooperately cooperate with the government to explore the regulatory frameworks within and outside this legislation by allowing the consultation of the stakeholders in order to balance responsible innovations with the robust consumer protection.
(Tagstotranslate) Mumbai
