On 21st August, something happened that caught all of India’s biggest fantasy apps unprepared. Applications such as Dream 11, Gameskraft, MPL, and more saw a lot of losses rapidly. Basically, the government announced a ban on all fantasy applications. The question is, how much are India’s biggest fantasy apps losing daily after the ban took effect?
Surely, there are two sides to a coin. For some, things were going very well as they were getting a lot of returns for the amount they were putting in the fantasy applications. Obviously, there were people who had lost a lot of money and a lot of other things as well. It was surely a gamble; if you win, you win; if you lose, you lose.
How much are India’s biggest fantasy apps losing daily after the ban took effect?
The Promotion and Regulation of Online Gaming Act, 2025, essentially banned all money-involved content, making it non-functional. Dream11, Mobile Premier League, and My11Circle are the applications that have been affected a lot by this. Only the free contests were available for the users to play once the news came out.
Dream 11 revenues have seen a great decline. Harsh Jain, the CEO of Dream11, said the company lost 95% of its revenue. Almost more than ₹22,000 crore was the amount all the fantasy applications lost combined after the ban. The gaming industry was rapidly increasing year by year. Surely the companies will want to challenge the decision and take it to the Supreme Court.
All the users were worried about the amount they had in their accounts of the fantasy application. All the companies were clear, the money will go nowhere, and all the users will get it in return. The users basically need to verify their UPI or Bank details and get the money back in a few minutes or days.
