Zupee halts real money games as Online Gaming Bill passed by Parliament, to continue with popular free titles

Zupee, one of India’s leading online gaming startups run by Cashgrail Private Limited, has officially stopped offering real-money gaming services following the Rajya Sabha’s clearance of the Promotion and Regulation of Online Gaming Bill, 2025. The legislation bans all online games involving monetary stakes while promoting eSports, social gaming, and the broader AVGC (animation, visual effects, gaming, comics) sector.

Founded in 2018 by Dilsher Singh Malhi and Siddhant Saurabh, Gurugram-based Zupee had grown into a major player in India’s real-money gaming ecosystem. The company raised $122 million across five funding rounds, with its latest Series B round in January 2022 securing $72 million and boosting its valuation to ₹4,900 crore. Backed by investors including WestCap, Z47, and AJ Capital Partners, Zupee ranked fourth among 340 active competitors and employed 466 people as of May 2025.

In response to the new law, Zupee announced it will continue offering free-to-play versions of its most popular titles, including Ludo Supreme, Ludo Turbo, Snakes & Ladders, and Trump Card Mania. A company spokesperson said: “Zupee remains fully operational and our players can continue to enjoy their favourite games on the platform. In line with the new Online Gaming Bill 2025, we are discontinuing paid games, but our hugely popular free titles like Ludo Supreme, Ludo Turbo, Snakes & Ladders, and Trump Card Mania will continue to be available for all users for free. We remain committed to delivering fun, engaging, and responsible gaming & entertainment experiences to our 150+ million users across India for free.”

Zupee competes with industry heavyweights like WinZO, Games24x7, and Mobile Premier League (MPL). The real-money gaming sector is now undergoing massive disruption, with operators rapidly adjusting business models in response to the government’s sweeping crackdown.

Reports suggest Dream11, India’s largest fantasy sports platform, is also preparing to shut down its real-money gaming arm. Dream Sports CEO Harsh Jain reportedly informed employees that there is no legal pathway to continue operations once the law is enforced. The company plans to pivot toward other verticals, including FanCode, DreamSetGo, and Dream Game Studios, CNBC TV18 reported.

Historically, over 90% of Dream Sports’ revenue came from Dream11’s paid contests. Founded in 2008 by Harsh Jain and Bhavit Sheth, Dream11 boasts over 280 million registered users.

Union Minister Ashwini Vaishnaw emphasized that the government’s approach is “balanced,” prioritizing the protection of crores of middle-class families from financial harm. In a post on microblogging platform X, he noted that the Bill addresses risks of fraud, money laundering, and terror financing associated with real-money gaming, following thousands of complaints from across the country.

The Promotion and Regulation of Online Gaming Bill, 2025, is set to redefine India’s digital gaming ecosystem, encouraging safe, creative, and socially engaging gaming experiences while curbing harmful real-money gambling.