Kartik Srinivas (name changed) still flinches at the mention of online betting. What began as a thrill to earn a quick buck spiraled into a five-year addiction that cost the 26-year-old his savings, peace of mind, and nearly his future.
Between 2019 and 2024, Srinivas lost more than 1.5 million rupees ($17,000; £13,000). The money included three years of his earnings, as well as savings and loans from friends and family.
I tried everything - apps, local bookies, international platforms. I was hooked, he says.
Srinivas' story reflects the darker side of India's once booming Real Money Games (RMG) industry - where players use online platforms to bet cash on poker, fantasy sports, and other games.
Days ago, India passed a bill to outlaw these games, arguing they had become increasingly addictive and were leading to financial distress among people.
The new law makes offering or enabling such services punishable, with a jail term of up to three years and a fine of up to 10 million rupees. Promoting them carries penalties of two years and 5 million rupees, though users are treated as victims, not offenders.
Federal IT Minister Ashwini Vaishnaw said online money games had harmed 450 million Indians, causing losses of over 200 billion rupees and triggering depression and suicides among many. The source of this data, which was presented in parliament last week, is unclear.
But many in the industry have called the ban a knee-jerk move that has crippled a thriving sector and will hurt those it is trying to protect. Before the ban, India had around 400 RMG startups generating nearly $2.3 billion in annual taxes and supporting over 200,000 jobs.
This is the first federal law to ban online betting platforms, though states like Odisha, Assam, Andhra Pradesh, and Telangana have enforced their own bans for years.
Despite this, the gaming industry flourished, attracting global investments and celebrity endorsements. Critics stress that confusing skill-based games with those based solely on chance does a disservice to the responsible platforms that prioritize user protections.
With many fearing the rise of illegal networks as a result of the ban, industry insiders argue that awareness and regulation should have been the path forward rather than outright prohibition.
