New Delhi, Aug. 26 -- The Centre's decision to ban real-money gaming apps, now formally enshrined into law, could dent India's advertising industry by over $1 billion annually-an impact that may run into multiple years.

India's digital advertising industry may be set back by nearly Rs.10,000 crore if leading real-money gaming (RMG) apps such as Dream11, Games24x7, and MobilePremier League pull back their sponsorships and advertising expenditures, according to industry stakeholders.

Already, fantasy sports giant Dream11 has informed the Board of Control for Cricket in India that it won't be able to continue with the title sponsorship of the Indian cricket team. It had signed a three-year deal worth a reported Rs.358 crore with BCCI in 20...