Flutter Shuts Money-Based Online Games In India, Sees Rs 1,750 Crore Revenue Loss

Flutter Entertainment has shut down its money-based online gaming operations in India following a law passed last week banning real-money online games. Chief Executive Officer Peter Jackson said he was "extremely disappointed" by the development, news agency Reuters reported.

The company halted operations of its subsidiary Junglee, which employs over 1,100 people. Flutter had projected its Indian business to generate around $200 million (Rs 1,750 crore) in revenue and $50 million in adjusted Ebitda in 2025, but did not issue an updated forecast.

Jackson warned the ban could push users towards unregulated platforms that lack consumer safeguards and make no contribution to the local economy.

The Online Gaming Act prohibits advertising or endorsements of platforms facilitating online games that involve monetary transactions. It proposes to bar banks, as well as non-banking financial bodies, from facilitating any transaction involving online money games.

The law was prompted by an estimated Rs 20,000 crore losses borne by players annually and a rising tide of social distress linked it, government sources told NDTV Profit.

Widespread social distress, including family violence, bankruptcies, and even suicides, along with strong representations from Members of Parliament on the matter, prompted the Centre to bring forward this legislation, they added.

Penalties proposed under the law include up to three years in prison and a fine of Rs 1 crore for any person offering online money gaming services. Those involved in advertising or endorsing such platforms may face up to two years in jail along with a Rs 50 lakh fine.

Similarly, anyone facilitating transactions or fund transfers for online gaming could face three years of imprisonment and penalties up to Rs 1 crore.