
India’s booming online gaming industry faces its biggest crisis yet. The Online Gaming Bill 2025, tabled in the Lok Sabha, seeks to ban all money-based online games — from rummy and poker to fantasy sports. Industry bodies like the All India Gaming Federation (AIGF) warn the bill could deliver a death knell to a ₹2 lakh crore sector that employs over 2 lakh people and contributes ₹20,000 crore annually in GST. With valuations of giants like Dream11 ($8B) and MPL ($2.5B) at stake, the fallout could be massive — wiping out jobs, FDI, and innovation. Supporters, however, argue the crackdown is necessary to curb fraud, addiction, and illegal gambling. Will India regulate or ban?