According to a source familiar with the company’s operations, MPL will cut around 60% of its workforce in India—roughly 300 out of 500 employees—marking one of the most significant industry responses to the ban so far. The job losses will span marketing, finance, operations, engineering, and legal departments.
The sudden shift comes after Prime Minister Narendra Modi’s administration moved earlier this month to prohibit apps offering paid fantasy cricket, rummy, poker, and other money-based games. For years, such platforms had attracted millions of players and billions in investment from top venture capital firms including Tiger Global and Peak XV Partners (formerly Sequoia Capital India). Industry forecasts once projected the sector could grow into a $3.6 billion market by 2029.
MPL, which was last valued at $2.3 billion in 2021, had built its success largely on fantasy cricket and other paid competitions. In an internal email sent to staff on Sunday, CEO Sai Srinivas acknowledged the gravity of the decision, writing that “with a heavy heart we have decided that we will be downsizing our India team significantly.” He pledged support for affected employees but confirmed that India—once responsible for half of MPL’s revenues—would no longer generate income for the company in the near term.
The platform is now expected to pivot towards free-to-play games in India while strengthening its presence in overseas markets such as the United States, Brazil, and Europe, where paid gaming remains legal. Last year, MPL’s India revenue alone stood at approximately $100 million, underscoring the magnitude of the disruption.
The impact extends beyond MPL. Rival Dream11, valued at $8 billion, has also suspended its fantasy cricket business. Several other companies offering online rummy and poker have followed suit. While most operators appear unwilling to challenge the government’s directive, gaming company A23 has taken the unprecedented step of filing a legal petition against the ban.
For now, the crackdown marks a turning point for India’s online gaming industry, testing the resilience of companies that had staked their growth on paid play. Whether free-to-play alternatives and overseas markets can sustain investor confidence remains to be seen.