Real-money gaming operations cease in India by Flutter, a prominent company.

The online gaming industry in India has been thrown into turmoil following the passing of the Promotion and Regulation of Online Gaming Bill. The bill, which was introduced and passed in just two days, prohibits all real-money online gaming, jeopardising the businesses of multiple companies, including Flutter Entertainment.

Flutter Entertainment, a global leader in sports betting, gaming, and consumer experiences, has been forced to exit India's real-money gaming market. The company's CEO, Peter Jackson, expressed "extreme disappointment" over India's decision, citing concerns about the sudden ban on skill-based games driving players to the black market.

The exit is expected to result in a significant revenue blow to Flutter's business, with estimates suggesting a loss of around $100 million. Junglee, one of Flutter's brands in India, was expected to contribute roughly $200 million in revenue and $50 million in adjusted EBITDA to Flutter's business in 2025.

Junglee, which supported approximately 1,100 jobs, had reached significant levels of penetration and offered products enjoyed by many consumers. The brand prioritised player safety and responsible gaming, making it a significant contributor to the local economy.

The Competition Commission of India has plans to explore options to restore local sector competition in India. Flutter, along with other companies affected by the new regulations, is evaluating options to restore skill-based games in the Indian market.

The bill's passage sent shockwaves across the industry, with Flutter believing this change will drive customers to the unregulated market, offering limited consumer protections and providing no contribution to the local economy. The company believes in regulatory frameworks that put customers first and is hopeful that a solution can be found to support the restoration of the local skill-based gaming market.

In a statement, Jackson expressed his concern about the impact of the ban on the industry and the potential for players to turn to unregulated platforms, stating, "We remain committed to India and will continue to engage with policymakers to encourage the restoration of the local skill-based gaming market."