India, Aug. 20 -- The Lok Sabha passed the bill to ban online gaming involving real money - citing instances of gambling addiction, money laundering and financial frauds - on Wednesday. It will next have to clear the Rajya Sabha before the President can sign it into law.

The move affects India's $3.8 billion gaming industry that has drawn global investors and fostered fantasy sports apps like Dream11, Games24X7 and Mobile Premier League.

The Promotion and Regulation of Online Gaming Bill, 2025, was tabled in the Lok Sabha on Wednesday evening. It essentially bans gaming apps that require users to pay money to win cash.

"The government believes that the harms of addiction, financial loss and even extreme consequences such as suicides as...