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2025 was the year real-money gaming died in India. What next?

Whether the government’s regulatory reset will help make India a global gaming powerhouse or simply shift users, capital, and talent elsewhere remains an open question.

December 26, 2025 / 13:58 IST
Real-money gaming, which made up most of India’s gaming revenues, collapsed after the government introduced a new online gaming law. (Image generated by Google's Nano Banana Pro)
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