Dream11 Prepares To Shut Down Business! There Is A Panic To Withdraw Money

– Advertisement –

After the online gaming bill is passed, fantasy gaming company Dream11 is preparing to shut down its real money gaming business. According to sources, the company has given this information to the employees.

After the online gaming bill is passed, fantasy gaming company Dream11 is preparing to shut down its real money gaming business. According to sources, the company has given this information to the employees. About 67% of Dream Sports’ annual income came from the real-money games business. However, the company has clarified that customers who have money in Dream11’s wallet will be able to withdraw it.

After the Online Gaming Bill-2025 was passed by the Parliament, real-money games operating across the country have been completely banned. These include fantasy sports, poker, rummy and betting-style apps. With this, the risk of money of game players getting stuck in the wallet of these apps has also increased. At the same time, online gaming platform Zoopee has decided to shut down its payment-based games. The company clarified that its free games will remain available as before.

Over 700 foreign online money gaming companies

Especially in these online gaming apps, which are being operated from abroad. Currently, more than 700 foreign online money gaming companies are active, which have added UPI as a payment option. In the last few days, there has been a huge surge in transactions in these companies through UPI, but after the strict provisions made in the new bill, these will be completely banned and payments will be stopped. It is believed that this may cause the money of the people using these apps to get stuck.

The chaos of withdrawing money

After the new bill came in, there has been a panic among gamers to withdraw money from their wallets from online money gaming portals and apps. It has become challenging for gaming companies to handle this situation. There is a possibility of a ‘bank run’ like situation arising in this, because not all companies have sufficient cash resources available. Bank run is a situation in which a large number of customers suddenly start withdrawing their money simultaneously, then the financial institution does not have enough cash left. This worsens the situation.

– Advertisement –