India, Aug. 25 -- What a week for India's gaming industry! From 'fun' to 'fraud' and even 'financing of terrorism' - real money gaming (RMG) has hit its rock bottom.

The government looks determined to pull the plug on money-based online gaming, sending shockwaves across the ecosystem and sparking massive outcry from startups, investors, and users alike.

Naturally, there has been an outcry from the industry. In fact, the immediate fallout was dramatic - major players like Dream11, MPL, Probo, Zupee, PokerBaazi, and My11Circle announced shutting down all real money game offerings, with many more expected to follow suit. Others, such as WinZO, have halted all impacted games and are paring down their platform.

While on one hand, there are ...