India, Nov. 1 -- The curtains have come down on real-money gaming, but even before the dust could settle on India's multi-billion-dollar RMG turf, the industry's next act is beginning to unfold.

While they shut down their real-money gaming business within days of the Supreme Court slapping a blanket ban on games of luck, many of them scrambled to the consumer-tech vertical - be it short-form entertainment or wealthtech - to stay in the bigger play.

A couple of months after Parliament passed the Promotion and Regulation of Online Gaming Act, 2025, the legislation officially came into force on October 1, signalling a decisive shift in India's stance on real-money gaming. The government defended the move, citing that nearly 450 Mn Indians ...