
India's Real-Money Gaming Ban Will Fuel Black Market, Critics Warn
The Indian government's swift passage of a new bill to prohibit all real-money online gaming has been met with a storm of criticism, with industry leaders and
Dream11 is India's largest fantasy sports platform, founded in Mumbai in 2008 by Harsh Jain and Bhavit Sheth and operating as part of Dream Sports. It reports 220 million users playing fantasy cricket, football, kabaddi, hockey, basketball, volleyball, handball and baseball, and posted revenue of 63.84 billion rupees for the 2023 financial year. It became the first Indian gaming company to reach unicorn valuation in April 2019. India does not permit online sports betting or casino nationally, and fantasy sports has been the legal route to a wagering-adjacent product, defended on the basis that it is a game of skill rather than chance. That distinction is under continual challenge in the Indian courts and in state legislatures, which makes Dream11 the largest business anywhere resting on a skill-versus-chance classification.
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The Indian government's swift passage of a new bill to prohibit all real-money online gaming has been met with a storm of criticism, with industry leaders and

India's government has passed a transformative new law that fundamentally reshapes its entire online gaming landscape, in a move that simultaneously champions