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West Bengal Chief Minister Mamata Banerjee has drawn a parallel between her party's fight against the BJP and the epic battle of the Pandavas and Kauravas. She expressed confidence in public support even if President's rule is imposed. The Election Commission is preparing supplementary voter lists
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Posters have surfaced across Lucknow comparing the Samajwadi Party’s rule in Uttar Pradesh to Pakistan’s “Lyari Raj", targeting Akhilesh Yadav with a reference to its depiction in the film Dhurandhar. The development comes days after a separate political jibe by Parvesh Verma
Online gaming platform Dream 11 and My11Circle announced on Friday that they have shut down their offerings involving real money as the legislation banning the service became an Act.
"This morning, we stopped all paid contests on Dream11 and pivoted entirely to a free-to-play online social game... We have always been and will always be a law abiding company, and have conducted our business in compliance with the laws. While we believe that progressive regulations would have been the right way forward, we will respect the law and will fully comply with "The Promotion & Regulation of Online Gaming Law, 2025"," Dream 11, country's largest fantasy sports platform, said in a post on XAccording to people in the know, Dream11 founder and CEO Harsh Jain held a townhall meeting with the company's employees on Wednesday, where he apprised the staff about the impact of the government's decision. “Harsh informed employees that while Dream11 will get hit, DreamSports, which includes businesses such as FanCode, DreamSetGo, and others, will continue to operate as usual,” one of the persons said.
Dream11's peer My11Circle made a similar announcement, stating that it is suspending all gaming services that involve real money with immediate effect.
"From this point on, no new cash deposits will be accepted, and games involving real money will not be available on our platform," it said.Real-money gaming platforms are scrambling to respond after the government's proposed ban on such services. The Bill was granted approval by President Droupadi Murum on Friday, day after the Rajya Sabha
Dream11\'s peer My11Circle made a similar announcement, stating that it is suspending all gaming services that involve real money with immediate effect.
"From this point on, no new cash deposits will be accepted, and games involving real money will not be available on our platform," it said.Real-money gaming platforms are scrambling to respond after the government\'s proposed ban on such services. The Bill was granted approval by President Droupadi Murum on Friday, day after the Rajya Sabha', 'This just came in. Take a look.')">Share Article
Dream11's peer My11Circle made a similar announcement, stating that it is suspending all gaming services that involve real money with immediate effect.
"From this point on, no new cash deposits will be accepted, and games involving real money will not be available on our platform," it said.Real-money gaming platforms are scrambling to respond after the government's proposed ban on such services. The Bill was granted approval by President Droupadi Murum on Friday, day after the Rajya Sabha" onclick="showFullScrImg(this)"/>
Online gaming platform Dream 11 and My11Circle announced on Friday that they have shut down their offerings involving real money as the legislation banning the service became an Act.
"This morning, we stopped all paid contests on Dream11 and pivoted entirely to a free-to-play online social game... We have always been and will always be a law abiding company, and have conducted our business in compliance with the laws. While we believe that progressive regulations would have been the right way forward, we will respect the law and will fully comply with "The Promotion & Regulation of Online Gaming Law, 2025"," Dream 11, country's largest fantasy sports platform, said in a post on XAccording to people in the know, Dream11 founder and CEO Harsh Jain held a townhall meeting with the company's employees on Wednesday, where he apprised the staff about the impact of the government's decision. “Harsh informed employees that while Dream11 will get hit, DreamSports, which includes businesses such as FanCode, DreamSetGo, and others, will continue to operate as usual,” one of the persons said.
Dream11's peer My11Circle made a similar announcement, stating that it is suspending all gaming services that involve real money with immediate effect.
"From this point on, no new cash deposits will be accepted, and games involving real money will not be available on our platform," it said.Real-money gaming platforms are scrambling to respond after the government's proposed ban on such services. The Bill was granted approval by President Droupadi Murum on Friday, day after the Rajya Sabha passed it.
Gurugram-based Zupee said in a prepared statement that it is discontinuing its paid games in line with the new law. On Thursday, Peak XV Partners-backed Probo also announced that it will shut down its real-money gaming operations, while Bengaluru-based Mobile Premier League said it is suspending all money-based games on its platform in India.
To be sure, for the larger companies, real-money gaming accounted for a large chunk – around 60-70% – of their revenues, and this business, both in terms of revenue and profits, will get impacted in the aftermath of the new law.
“Several large companies are pivoting to advertising models…under which they will make money through ads. It will get the existing user base to continue using the app, but no money exchanges hands,” an industry executive said. “But this advertising model is not anywhere comparable to real-money gaming in terms of profitability. The users want to win money, so engagement on the apps will reduce.”
Another executive said that companies are also evaluating real money games with appetite in global markets. “Certain games like poker or fantasy sports may have a market in other countries like the US or the UK, where these are allowed…by no means, they are small markets, but the companies are studying what will work there and what won't,” this person said.
ET had reported on Wednesday that approaching courts was one of the options that senior gaming industry executives are considering as they huddle together to discuss the next steps. Executives and lawyers said that the courts had previously ruled in favour of skill-based gaming, citing the fundamental right under the Constitution to carry out trade and occupation, among other reasons, and that the new law, too, could possibly be legally challenged on those grounds once enacted.
Source: EconomicTimes
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