BW Businessworld Magazine - September 06, 2025

In this issue

INDIA’S GAMING ECOSYSTEM has been jolted overnight. The passage of
the Promotion and Regulation of Online Gaming Bill, 2025, has redrawn
the contours of one of the country’s fastest-growing digital industries. In
a single move, the Parliament has outlawed real-money games, including
rummy, poker, and fantasy sports, effectively shutting down platforms
that had become household names and cultural touchpoints. The speed
at which the law was passed was striking. Cleared by both Houses within
72 hours, it brought operations at companies such as Dream11, MPL,
Gameskraft, Zupee, WinZO and PokerBaazi to a grinding halt.
The impact is already visible – 250 million users left in limbo, nearly Rs
25,000 crore of foreign direct investment wiped out, and an estimated Rs
10,000 crore annual advertising market facing erasure. Union Minister
Ashwini Vaishnaw has described the law as “a decisive step to protect
consumers, safeguard young Indians, and end the menace of addiction and
fraud.” The intent may be clear, but the fallout is complex. For advertisers,
this is not a sectoral blip but a major shock. Gaming had become an
advertising behemoth, worth around Rs 4,500 crore annually, attracting
endorsements from Dhoni, Virat Kohli, Shah Rukh Khan and Amitabh
Bachchan. Contracts and campaigns are being pulled out, with brands and
celebrities caught in the churn. Digital majors, including Google, YouTube,
and Meta, are also bracing up for the cascading effect, given how dependent
their ad inventories have become on gaming-driven spending.