India has outlawed online gambling. The decision shuts down a multibillion-dollar industry, disrupts fantasy sports, and leaves millions of players searching for alternatives outside the country. Lawmakers say it’s about curbing addiction and financial losses. Critics say it will push gambling deeper into the shadows of offshore markets.
The Law and Its Reach
The Promotion and Regulation of Online Gaming Bill 2025 passed last month. It bans real-money online play and the promotion of such platforms. Government figures showed that about 450 million Indians collectively lost $2.3 billion a year to online gambling. That data drove the urgency.
The penalties are serious. Up to five years in prison for offenders. Banks and payment firms cannot process transactions tied to gambling. Technology Minister Ashwini Vaishnaw said the bill separates gambling from eSports, stressing that “fantasy money games that exploit users” are the problem.
Supporters highlight addiction, suicides, and families ruined by losses. Vaishnaw argued that middle-class households were losing entire incomes.
Offshore Loopholes
The law doesn’t stop players from gambling. It shifts where they do it. Domestic operators have closed. In their place, offshore websites are booming. Players use VPNs and proxy credit cards to bypass restrictions.
Adarsh Sharma, a fantasy sports regular, told AFP that international sites will “see a sudden boom.” Another player, anonymous, said: “We have done this before and will do it again.”
Analysts warn this is exactly what regulators didn’t want. Offshore platforms sit outside Indian jurisdiction, without consumer protections, and can make harm worse.
Fantasy Sports and Cricket Lose Ground
Fantasy sports was one of the hardest-hit sectors. Valued at £1.8 billion, the market collapsed once cash prizes were banned. Dream11, with 260 million users, ended all money-based contests and switched to physical rewards like gadgets and cars.
Dream11 also ended its £34 million sponsorship deal with the cricket board (BCCI). Jerseys lost the brand overnight. CEO Harsh Jain said the speed of the law was a shock: “By Friday the president had signed it into law. It was a complete shock.”
Fantasy operators had been massive advertisers. Up to 40% of IPL broadcast ad revenue came from them. With their exit, future valuations of the league could fall, especially when rights are renegotiated in 2027. Analysts predict reduced ad spend, lower broadcaster income, and a pullback in cricket sponsorship across the board.
Legal Fights Begin
Not everyone is staying quiet. A23, a card-game operator, has already filed a constitutional challenge. Policy experts argue the law is disproportionate. Meghna Bal of the Esya Centre said it dismantles regulated domestic operators while giving illegal offshore firms more space to grow.
Others point to how rushed it all was. Rohit Kumar of Quantum Hub said abrupt moves damage India’s reputation as a safe investment environment.
Inside the industry, some accept partial blame. Dream11’s Jain said stronger self-regulation might have helped. But he also warned that bans typically fuel black markets, and offshore firms are already targeting Indians aggressively.
What Comes Next
The gambling and fantasy sports market in India changed overnight. Cricket sponsorships, ad revenues, and gaming startups face uncertain futures. Fans are still playing—just differently.
Jamshed Noor, a butcher in Delhi, said he continues with fantasy cricket: “We play it for the love of cricket. Money was definitely an attraction, but I still play.”
The government insists the ban protects vulnerable citizens. The reality is more complicated. Millions of players are moving offshore. Enforcement will be difficult. And the tension between consumer demand, regulation, and black-market growth is only starting to unfold.
About the Author
Daniel is a content creator at Mr Win and has worked in the iGaming industry since 2012. With more than a decade of experience reviewing casino operators and bonuses, he focuses on safe play, licensing standards, and helping players find fair gaming sites.