Rs 9600 crore revenue, 280 million users…, Dream11’s game over, plans to shutdown its real-money gaming business after Gaming Bill gets approval
The Online Gaming Bill 2025 has now been passed in the Rajya Sabha after getting approval in the Lok Sabha. This new law has created a wave of panic in the online gaming industry, especially among companies running real-money games. One of the biggest players in the sector, Dream11, is reportedly preparing to shut down its real-money gaming business.
According to sources quoted by Business Today, Dream11 has decided to close this part of its operations because the new bill puts a legal ban on paid online games.
Dream 11, in a statement posted on its website on Friday, noted that, following the passing of the bill, “cash games and contests have been discontinued”, but urged fans to “stay tuned”.
This move is expected to impact more than 280 million registered users of the platform, leaving a huge number of gamers disappointed and concerned about the future of their favorite games.
Dream11 facing major setback
Dream11, India’s biggest fantasy gaming platform, is now facing a major setback after the Online Gaming Bill 2025 cleared both houses of Parliament.
The platform, launched in 2008 by Harsh Jain and Bhavit Sheth, grew rapidly to a massive base of over 280 million users, making it the country’s top fantasy sports app. In FY24 alone, Dream11 generated nearly Rs. 9,600 crore in revenue, with about 90 per cent of its earnings coming from real-money contests, most of which were cricket-related.
Following the bill’s approval, CEO Harsh Jain shared an internal note with employees of the real-money gaming division, stating that there is “no way to continue paid games” under the new law. Sources told Business Today that the company has informed both permanent and contract-based employees in the affected units about the upcoming shutdown and organizational changes.
Dream11’s growth
Dream11’s growth story has been nothing short of phenomenal. Since its launch, the company’s valuation skyrocketed to USD 8 billion by 2021, backed by global investors like Tiger Global, ChrysCapital, Multiples, and TCV.
However, despite reports of shutting down its real-money gaming unit, the company has not yet made any official announcement. For now, Dream11 has maintained that its app continues to operate.
Why the gaming industry is worried
The Online Gaming Bill 2025, recently passed by both Lok Sabha and Rajya Sabha, has sent shockwaves through the online gaming sector. Shares of many gaming companies have been falling steadily ever since the bill was passed.
The bill places a complete ban on real-money-based fantasy sports, poker, and rummy. Only e-sports and social gaming are allowed under the new framework. Companies violating these rules could face up to three years in jail or fines of up to Rs. 1 crore.
HIGHLIGHTS
- The Online Gaming Bill 2025 has been cleared by both the Lok Sabha and the Rajya Sabha.
- Dream11, one of India’s biggest gaming platforms, is planning to shut down its real-money gaming business.
- The decision comes after the new bill legally bans paid online games.
- The shutdown is expected to affect over 280 million registered users of Dream11.
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