New gambling law in India

On August 22, 2025, the President of India signed a bill that bans online gambling with money wagers.

The effective date of the law has not yet been announced, but the implications are clear.

The All India Gaming Federation (AIGF) calls the new law a «death sentence» for the legal sector.

Why it's happening

De jure - sound words about «national security,» «money laundering» and «terrorist financing.».

De facto - ludomania and financial losses of the population comparable to the country's expenditures on pharmaceuticals.

Market size

• The market is valued at $22 billion with annual revenue of $3.5 billion
• 450 million people lose over $2.2 billion annually
• According to a study by think tank CUTS International, India's 15 largest offshore platforms attracted 5.4 billion visitors between April 2024 and March 2025 - more than Amazon and Wikipedia
• The annual volume of deposits at these sites amounted to $100 billion

Details of the bill

• Real money games and betting are prohibited, including fantasy sports, poker, rummy and online lotteries
• Financial transactions related to them are prohibited
• All forms of gambling promotion are prohibited, including sponsorship of sports teams and events
• Violations are punishable by up to five years in prison and fines of up to $120 thousand.

Implications for the industry

• Loss of sports sponsorship contracts. The Indian Cricket Board has ended its partnership with fantasy sports platform Dream11 and lost a contract worth $43 million a year
• Companies leaving the market. Flutter Entertainment, Dream11, My11Circle, Mobile Premier League, Probo, Zupee and many others stopped working in the real-money gaming segment
• Bypassing restrictions. Offshore operators masquerade as IT companies and open backend divisions (support, payments, software, marketing), claiming that they do not serve Indian players
• A blow to the economy. India could potentially lose 200,000 jobs, 400 companies and $2.2 billion in taxes