Indian Real Money Gaming (RMG) Industry Turns to US and Brazil

Indian gaming company WinZO officially announced its entry into the US market on August 24. Following its 2023 expansion into Brazil, this marks the company's second international venture, described by the company as "an opportunity to bring Indian intellectual property (IP) to global audiences."

WinZO has also added a short-form video service called 'ZO TV' within its existing app. Offering Korean and Chinese drama content, the company stated in an official announcement that it would "responsibly withdraw certain services affected by changing regulations while continuing to provide diverse services for Indian users."

Online Gambling Ban Law Takes Effect with Presidential Approval

Behind these moves lies the Promotion and Regulation of Online Gaming Act, 2025. Receiving presidential approval last week, this legislation completely prohibits Real Money Gaming (RMG) and imposes severe penalties on providing, promoting, or intermediating related services.

Industry responses came immediately after the bill's passage. Dream11, India's largest fantasy cricket app, suspended all paid services on Friday and blocked users' wallet deposit functions. Instead, it pivoted to free games and terminated its sponsorship contract with the Indian national cricket team.

Dream11 Pivots to Financial Management App

According to MoneyControl reports, Dream11 plans to soon launch 'Dream Money,' a personal wealth management app. The app will enable gold purchases starting from as little as 10 rupees, along with systematic investment plans (SIP) and fixed deposit (FD) investments, offering personalized recommendations based on cash flow and spending pattern analysis.

Beyond RMG, Dream11 maintains a diverse business portfolio:

• Fancode: Sports live streaming
• DreamSetGo: Sports experience platform
• Dream Game Studio: Game development
• Investments in Cricbuzz, WillowTV, and others

Industry-Wide Service Shutdowns and Legal Response Preparations

Numerous RMG companies besides Dream11 have ceased operations:

• Mobile Premier League (MPL): Including its fantasy sports and opinion trading subsidiary MPL Opinion
• PokerBaazi: Owned by gaming giant Nazara Technologies
• Games24x7: Operates My11Circle and Rummy Circle
• Probo, GamesKraft, and others

While the new law completely bans monetary betting games, it also includes provisions encouraging e-sports and general game development. Companies like Nazara, Zupee, and Dream11, which already have game development and e-sports divisions, are likely to pivot their businesses in that direction.

Legal Alternatives: Free Games + Ad and Subscription Models

Legally permissible approaches exist:

1. Offering the same games without betting: Converting existing games to free-to-play and monetizing through ads or subscriptions
2. Tournament prize distribution: Competitions without entry fees where players win prizes are legal (structures where participants pay entry fees with expectations of monetary rewards are illegal)

Meanwhile, several RMG companies are reportedly planning to challenge the law in court.

$25B Market Collapse and 200,000 Job Losses

According to some estimates, India's RMG market was valued at approximately $25 billion (roughly 33 trillion KRW) and employed over 200,000 people directly and indirectly. With the immediate implementation of this legislation, India's domestic industry ecosystem has effectively collapsed, forcing companies to rush toward international expansion and business transformation.