India's gaming ban shakes up a $23 billion industry
India just banned all real-money online games—yes, even skill-based ones.
The new law, passed in August 2024, also blocks related payments and ads.
If companies or advertisers break the rules, they're looking at big fines or even jail time.
Why does this matter?
This move hits hard: the sector made up most of India's gaming revenue and gave jobs to over 200,000 people.
Big names like Flutter Entertainment have already shut down units and lost hundreds of millions.
Startups backed by billions in investment are suddenly in trouble.
What's happening now?
With legal options gone, many gamers are turning to shady offshore sites and underground betting networks—a risky shift that brings worries about scams and money laundering.
Legal experts are questioning if the ban goes too far; challenges are now with the Supreme Court.
There are concerns that users may turn to VPNs to bypass restrictions.