Online Gaming Banned: Mass Firing And Layoffs Next?

It is already known that the online gaming and fantasy gaming platforms in India have been an exponential rise in the recent years. Several platforms like Dream11, My 11 Circle, MPL and others have been generating massive revenues thanks to the vast increase in the money-paying users demographic.

However, the latest online gaming bill that was passed in the Parliament and subsequently in Rajya Sabha has come as a rude shock to the entire fantasy gaming industry.

It is not being reported that several companies primarily, including Dream11 are likely to carry out mass firing and layoff operations in the due course.

Reportedly Dream11 has already stopped the gaming operations related to money, and has started to brief the employees about the transition period. It is likely that the company is going to largely cut down on the workforce due to the constrained operations.

The online gaming market in India reached the 30,000 crore mark recently and was oriented to go on upward spiral. But this timely intervention with the introduction of the new online gaming bill by the central government came at a bad time.

But from a financial and public standpoint, this is a much needed decision as several lives were being shattered and suicides were being committed due to the severe financial stress these online gaming websites were bringing in many families.