Nithin Kamath suggests how to curb offshore betting apps mushrooming after real money gaming ban

Nithin Kamath, co-founder of Zerodha, has raised alarms regarding the surge of offshore betting and money-gaming apps following India’s ban on real-money online gaming. In a recent post on X (formerly Twitter), he highlighted that these platforms, often targeting Indian users with aggressive marketing tactics, operate from abroad and pose significant risks of fraud and unregulated financial activities. Kamath proposed that one effective measure to mitigate this issue would be to restrict these offshore apps from utilizing domestic payment systems, such as UPI, and urged banks to actively block associated accounts. His comments come in the wake of the Indian government’s new regulations introduced through the Promotion and Regulation of Online Gaming Act, 2025, which prohibits all real-money online gaming and betting activities. The law, aimed at safeguarding users from financial loss and addiction, marks a significant regulatory shift in India's digital gaming landscape. Prior to the ban, real-money gaming was a burgeoning industry in India valued at over Rs 27,000 crore, fostering numerous startups and job opportunities. However, concerns about potential money laundering and addiction among youth prompted this crackdown, eliminating the previous distinctions between skill-based and chance-based games.