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Indian government recently imposed a ban on real-money online gaming. The decision impacted many
real money gaming
startups. After this sweeping ban by the Indian government,
Mobile Premier League
(MPL) is set to lay off approximately 60% of its domestic workforce—around 300 employees. The ban, announced earlier this month, targets paid games such as fantasy cricket, rummy, and poker, citing financial and addiction risks among youth. The move has disrupted a booming industry that was projected to reach $3.6 billion by 2029 and had attracted major investors including Tiger Global and Peak XV Partners
MPL announces major downsizing teams
As reported by Reuters, MPL is all set to fire 60% of its workforce. The report also mentions that the fresh round of layoffs will impact teams across operations, marketing, finance, engineering and legal. MPL CEO Sai Srinivas, in an internal email, described the decision as “with a heavy heart,” acknowledging that India—once responsible for 50% of MPL’s revenue—will no longer generate income for the company in the near future.MPL’s India revenue last year stood at approximately $100 million. The company now plans to shift focus to free-to-play games and expand its presence in international markets such as the U.S., Europe, and Brazil.
Industry-wide impact
As mentioned above, the ban has impacted many startups across the industry. MPL’s rival Dream11, valued at $8 billion, has also discontinued its fantasy cricket offerings. While many gaming platforms have halted paid services, only A23 has legally challenged the government’s decision so far. MPL and Dream11 have opted not to pursue legal action.
Backed by Peak XV Partners (formerly Sequoia Capital India), MPL was valued at $2.3 billion in 2021. The company’s pivot marks a significant shift in India’s gaming landscape, raising questions about the future of skill-based gaming and its regulatory framework.