India’s leading real-money gaming platforms — including Dream11, MPL, and PokerBaazi — have suspended cash-based games following the enactment of the Online Gaming Bill 2025. While users can still withdraw wallet balances, no new deposits will be permitted going forward.
Online Gaming Bill 2025: Industry Disruption
The Promotion and Regulation of Online Gaming Bill, 2025 has triggered a nationwide ban on real-money gaming offerings. As a result, platforms such as Dream11, MPL, PokerBaazi, My11Circle, Zupee, WinZO, and Probo have halted all cash-based contests.
According to CNBC-TV18, Dream11’s CEO told employees that there is “no legal pathway” to continue real-money operations. The company will now pivot towards alternate businesses such as FanCode (sports content and merchandise) and DreamSetGo (sports travel experiences).
Wallet Withdrawals: What Users Need to Know
Despite suspending real-money gameplay, companies have assured users about the safety of their wallet funds:
- Dream11, MPL, and PokerBaazi confirmed that withdrawals will remain fully functional.
- New deposits are permanently disabled across all affected platforms.
This ensures that players can recover their existing balances even though they cannot add fresh funds.
Strategic Shifts in Gaming Offerings
With the ban in place, platforms are now shifting to non-monetary formats:
- MPL → Expanding its free-to-play competitive gaming portfolio.
- Zupee → Continuing popular titles like Ludo Supreme, but without cash rewards.
- Probo → Shutting down money-linked features, focusing on non-financial innovation.
- My11Circle → Ending all cash contests, but allowing balance withdrawals.
These pivots mark a significant transformation in the Indian gaming ecosystem.
Funding Impact and Industry Outlook
India’s real-money gaming industry had previously attracted over $1.07 billion in cumulative funding (till 2022), backed by major global investors. Key funding highlights include:
- Dream11 → $625 million across multiple rounds.
- MPL → $240 million in venture capital.
The Online Gaming Bill 2025 has forced startups to re-evaluate their business models, with investors like Tiger Global and Malabar Investments now assessing the future of their stakes in the sector.
Key Takeaways
- Real-money gaming banned in India under the 2025 bill.
- Dream11, MPL, PokerBaazi, My11Circle, Zupee, WinZO, Probo suspend cash-based operations.
- Withdrawals remain active, but deposits are disabled.
- Companies pivot to free-to-play and non-monetary gaming experiences.
- The sector, once valued at $1B+ in funding, faces massive restructuring.
Disclaimer
This article is for educational purposes only. The securities mentioned are examples and not stock recommendations. This does not constitute investment advice. Investors should do their own research and consult with financial advisors before making investment decisions.
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