The Indian cricket ecosystem is bracing for financial turbulence following the Lok Sabha’s passage of the Promotion and Regulation of Online Gaming Bill 2025, a sweeping legislation that seeks to ban real money gaming platforms. According to multiple reports, the bill is poised to reshape the commercial framework of Indian sport — especially cricket, where fantasy gaming firms like Dream11 and My11Circle have invested heavily in team sponsorships and advertising rights.
According to industry estimates, fantasy gaming companies generate the lion’s share of their revenue during the Indian Premier League (IPL) window, with nearly 70% of annual earnings tied to the tournament cycle.
These firms currently in turn plow substantial earnings back into the cricket ecosystem, and as a result the Board of Control for Cricket in India (BCCI) and IPL broadcaster JioStar are likely to experience a major hit from these new restrictions.
Real Money Gaming Outlawed: What the Bill Says
The bill outlines strict prohibitions:
“No person shall offer, aid, abet, induce or otherwise indulge or engage in the offering of online money game and online money gaming service.”
“No bank, financial institution, or any other person facilitating financial transactions or authorisation of funds shall engage in, permit, aid, abet, induce or otherwise facilitate any transaction or authorisation of funds towards payment for any online money gaming service.”
Violations carry stiff penalties:
“Any person who offers online money gaming service in contravention of section 5 shall be punished with imprisonment for a term which may extend to three years or with fine which may extend to one crore rupees or with both.”
“Any person who makes or causes to make advertisement in any media, in contravention of section 6, shall be punished with imprisonment for a term which may extend to two years or with fine which may extend to fifty lakh rupees or with both.”
The bill’s preamble cites a range of societal harms:
“…the parallel proliferation of online money games accessible through mobile phones, computers and the internet, and offering monetary returns against user deposits has led to serious social, financial, psychological and public health harms, particularly among young individuals and economically disadvantaged groups.”
“…such games often use manipulative design features, addictive algorithms, bots and undisclosed agents, undermining fairness, transparency and user protection, while promoting compulsive behaviour leading to financial ruin.”
“…predatory online Real Money Gaming apps – that manipulate them through misleading ‘monetary return promises’ into compulsive and addictive playing, that leaves entire families in financial distress.”
Cricket’s Fantasy Goldmine Under Threat
With the impending ban on real money gaming, flagship sponsorships across Indian cricket could be at risk. Dream11, for instance, holds jersey sponsorship rights with five IPL franchises and has a lead sponsorship deal with the BCCI worth ₹358 crore — set to expire after the 2026 T20 World Cup. My11Circle, meanwhile, committed ₹625 crore over five years for IPL fantasy rights.
According to CNBCTV18, Dream11 has decided to wind down its real-money gaming division. Apparently in an internal company note, Dream Sports CEO Harsh Jain reportedly told employees that once the law takes effect, there will be no legal way to continue operations. Both permanent and contractual staff have been briefed on a transition plan, as the company shifts focus to its other businesses — FanCode, DreamSetGo, and Dream Game Studios.”
A chief executive with an IPL franchise, as quoted by Hindustan Times, noted:
“There will be a definite impact. One will have to explore alternative segments to fill the sponsorship slot if fantasy gaming ceases to exist.”
A senior industry executive echoed the concern:
“Fantasy gaming apps have a symbiotic relationship in sponsorships as well as advertising. Once they become a lead sponsor in a tournament like IPL, they buy advertising time with the broadcasters. To make those creatives, they sign cricket stars for endorsement. It began as a sunshine sector a decade back and grew into a major player.”
Star Cricketers and State Leagues Could Be Hit
While India’s marquee cricket properties may eventually find alternative backers, state-level leagues and player endorsement deals could be in for a downturn.
Vidushpat Singhania, a lawyer who specializes in sports and gaming laws, told PTI:
“Cricket is huge in India and there won’t be any dearth of sponsors for Indian cricket and its properties. However, personal sponsorship market can shrink because of this bill.”
“Also fan engagement will be affected.”
“There will be a subscription fee and say you pay Rs 100 for a gaming app and test your skills in fantasy gaming. But real money gaming which is paying and earning money, that is prohibited as per this bill.”
He added, as quoted by Hindustan Times:
“At the top level, talking about Indian cricket and the IPL, they will have someone else stepping in. But for the state level cricket leagues, it may not be easy because for them gaming was a major sponsor.”
A Win for Esports — But Clarity Needed
While fantasy gaming faces the axe, the bill has been welcomed by India’s esports community.
Akshat Rathee, Co-founder and Managing Director of NODWIN Gaming, said, as quoted by Brandequity:
“The government’s intent to recognise and promote esports, as highlighted in the recent bill, is an encouraging step towards building a structured and globally competitive ecosystem.”
“However, for this vision to truly materialise, it is critical that the terminology used in the bill, particularly the distinctions between esports, online gaming, online social gaming, and online money gaming be clearly defined and uniformly understood.”
As the industry awaits clarity on regulatory enforcement, the once-booming synergy between cricket and fantasy gaming teeters on the brink — and India’s sports economy hangs in the balance.
