India, Aug. 20 -- What was once India's fastest-growing digital entertainment sector is now at a crossroads. The Union Cabinet has cleared the Online Gaming Bill, setting the stage for a sweeping overhaul that promises a boost for esports, while real-money platforms like Dream11, Games24x7, Winzo, and more - the giants of India's online gaming boom - face a crippling existential crisis.

The bill seeks to regulate online gaming platforms and curb the surge in illegal betting activities. Sparked by fraud cases linked to betting apps and celebrity promotions, the draft law aims to bring the entire space under a structured legal framework.

If passed, it would ban all money-based online games - whether based on skill or chance - outlaw adver...