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Parliament on Thursday cleared the Promotion and Regulation of Online Gaming Bill 2025 with the Rajya Sabha giving its nod amid uproar and without any debate. The legislation introduced by Electronics and IT Minister Ashwini Vaishnaw aims to prohibit all online money-based games while encouraging the growth of eSports and social gaming platforms. The Upper House passed the bill after turning down amendments proposed by Opposition members. What Is Online Gaming Bill? The bill was passed by the Lok Sabha on Wednesday. It also seeks to prohibit advertisements related to online money games and bar banks and financial institutions from facilitating or transferring funds for any of such games. Online money games are played by depositing money in expectation of winning monetary and other rewards. Also Read: Meet new Shark Tank India judge who sold house to start a company later sold it for Rs 100 crore to build Rs 10000000000 business empire his name is… Massive Layoffs And Companies To Shut Down? “There are more than 20000 current jobs at risk with a possibility of over 300 companies shutting down. Around 50% of franchise domestic/national level sports leagues may be closed and sponsorship revenue loss for teams & leagues could range from 30 to 40%” an industry source told LiveMint. The source added “Non-cricket & grassroots sports may collapse without real money gaming advertisers. The impact of it could lead to a decline in ad spends with lower sports broadcasting/media revenues.” Shark Tank India Fame Anupam Mittal On Online Gaming Bill 2025 Shark Tank India fame Anupam Mittal in his linkedin post said India also just banned real-money gaming.In one shot we killed a sector that - pumped in ₹27000 cr of GST annually - drove ₹10000 cr+ of ad revenue - gave thousands a legit livelihood in games of skill Why? Because many got addicted. Some went broke. Fair concerns but do we ban alcohol because some become alcoholics? Do we ban stock trading because some blow up their savings? Story Highlights Online Gaming Bill What Is Online Gaming Bill How Online Gaming Bill will impact Industry Online Gaming Bill in Lok Sabha Anupam Mittal Added that most bans usually have the same outcome of Govt loses revenue Users lose protection And Black markets win (reportedly 8.3 lakh crore illegal gaming market in India).