Synopsis
Probo is shutting down its real money gaming operations following the Rajya Sabha’s approval of the Online Gaming Bill, which aims to regulate online gaming and ban real money games. The company expressed respect for the government’s decision but voiced concerns about the potential impact on innovation.
TIL CreativesOpinion trading platform Probo announced it will shut down its real money gaming operations on Thursday. The announcement came as the bill banning such services was approved by the Rajya Sabha.
“As unfortunate as it is, we respect the government of India’s latest Online Gaming bill. In light of this development, Probo has decided to discontinue its real-money gaming (RMG) operations with immediate effect until further notice. We remain steadfast in our vision to innovate and build information markets from India, for the world,” the company said.
In a separate statement, the company echoed the wider industry sentiment that a blanket ban on all real money games could unintentionally limit the sector’s potential and stifle innovation.
Online Gaming Bill clears Rajya Sabha test
The Promotion and Regulation of Online Gaming Bill, 2025, was passed by the Rajya Sabha with a voice vote on Thursday, a day after it was approved by the Lok Sabha, despite the opposition’s protests. The bill will now be sent to the President for assent.
The bill aims to regulate and promote e-sports and online social gaming in India, and ban online money games to curb economic and sovereign threats from such platforms. It proposes penalties of up to three years imprisonment and fines of Rs 1 crore for offenders.
The Bill has riled the sunrise sector, with an estimated 2 lakh job losses and Rs 20,000 crore in lost tax revenue to the exchequer. The $2 billion the industry spends on advertising and marketing is also expected to vanish if a blanket ban on online money gaming comes into effect.
The government has assured that online gaming will flourish under the proposed law, and it will only curb the harmful real money gaming. Meanwhile, gaming industry executives are planning to challenge the bill in a court of law.
Probo’s past troubles
Probo came under the lens of Enforcement Directorate (ED) in July over allegations of illegal gambling and money laundering. The financial probe agency searched four premises linked to the company in Gurugram and other parts of Haryana . Authorities have frozen investments in fixed deposits and shares amounting to Rs 284.5 crore, and the contents of three bank lockers.
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