Influencers and agencies that thrived on RMG deals now find themselves on a revenue cliff

New Delhi: India’s proposed ban on real-money gaming (RMG) is expected to significantly disrupt the country’s influencer marketing ecosystem, which has seen gaming brands emerge as one of its most aggressive spenders in recent years.

Top YouTubers and streamers have been paid handsomely to promote fantasy teams, host RMG tournaments, or integrate betting platform shout-outs in their content. In fact, industry insiders say influencers were often paid 2–3 times their normal rates to advertise gambling platforms, with some signing “long-term deals averaging Rs 50 lakh per month” in payout. 

Certain gaming promoters offered influencers as high as Rs 2 crore per week for driving traffic to their betting sites. Such eye-popping sums explain why many creators were willing to risk it, despite the ethical grey areas and prior government advisories.

This influencer ecosystem became a lifeline for RMG companies, especially as conventional ad channels imposed restrictions.

According to Qoruz data, between January 2024 and June 2025, more than 34,800 posts from around 10,700 influencers generated 113 million engagements for RMG campaigns, with an average engagement rate of 0.42%. 

The analysis highlighted how hashtags such as sportsbetting, teenpatti and livecasino gained prominence in 2023, while in 2024, new terms like aviator, money and games broke into top-tier conversations. Beyond cricket-led promotions, content themes such as “casino excitement” (+166%) and “casino charm” (+197%) grew sharply, highlighting how gaming brands were driving wider cultural narratives.

The Qoruz study also showed that men made up a majority (57%) of creators in this segment, with micro-influencers accounting for 41% of campaigns due to their ability to balance scale and relatability. Sports remained the largest content vertical at 34 % share of voice, but beauty, fashion and entertainment influencers were increasingly drawn into the mix. Mumbai alone accounted for over 20% of all posts, reinforcing its role as a hub for brand–creator collaborations.

Advertising Standards Council of India (ASCI) guidelines mandated prominent disclaimers (“This game involves financial risk and may be addictive…”) and barred targeting minors, while the I&B Ministry issued warnings to TV channels and digital platforms against carrying illegal betting ads. 

Social media influencers, however, operated in a less regulated space – and many betting brands (especially offshore ones) capitalised on this loophole by inking deals directly with creators. 

By mid-2023, it wasn’t uncommon to see Instagram influencers posting referral links to betting apps in their bios or YouTubers casually plugging fantasy sports during cricket season. This all-pervasive presence of RMG promotions on new media is exactly what the new bill seeks to dismantle.

The impending ban on real-money gaming (RMG) is shaking up influencer marketing agencies that had built steady revenue streams around fantasy sports and betting promotions. For years, gaming brands poured money into sponsored content: from app reviews and referral contests to fantasy line-ups, fuelling growth for mid-tier creators and agencies alike. With collaborations now outlawed, that pipeline has abruptly collapsed.

Agencies say campaigns were cancelled overnight, leaving content undelivered and bills unpaid. One mid-sized firm estimates a monthly loss of nearly Rs 20 lakh after its gaming clients pulled out. Dedicated gaming influencer verticals set up within agencies are being restructured, with some staff at risk of reassignment or layoffs.

The earnings impact is equally severe for creators. Popular RMG-focused influencers who once earned Rs 1–1.5 lakh a month through brand deals now face a sudden shortfall, while even superstars are hit. 

Beyond revenues, the new law’s personal liability clause has made creators and agencies far more cautious. Unlike earlier, when the worst outcome was an ASCI notice, influencers could now face jail for promoting betting apps. Talent managers are revising contracts to include morality clauses and legal vetting, while brands in safer categories like fintech, e-commerce and lifestyle are being prioritised.

Industry voices argue this could raise the long-term trust quotient of influencer marketing. While RMG once acted as a cash cow, it also brought opaque sponsorships and questionable practices. With its exit, agencies believe the sector will pivot to more compliant, brand-safe and sustainable collaborations.

The Promotion and Regulation of Online Gaming Bill, 2025, cleared its first stage in Parliament on 20 August. It seeks a blanket ban on all money-based online games, including fantasy sports, rummy, poker and betting.

Government estimates show that about 45 crore Indians lose nearly Rs 20,000 crore annually on such platforms. The Bill criminalises offering or promoting money games, covering operators, advertisers, celebrities, influencers, media and payment firms.

Penalties include up to three years’ jail and fines of Rs 1 crore for operators, and two years or Rs 50 lakh for promotions. Repeat offences could lead to five years’ imprisonment and fines of up to Rs 2 crore. A national Online Gaming Authority will regulate permissible categories such as e-sports and casual/social gaming.

The advertising ban has pushed influencer agencies to reassess their exposure to real-money gaming (RMG), though the immediate effect differs across firms.

Rishika Choudhary, Director of Advocacy at Sheeko, said the company had only a handful of campaigns in the sector, making the disruption manageable. She explained that the firm never treated RMG as a central business pillar because of its unpredictable regulatory climate.

“We’ve always known RMG comes with its fair share of ups and downs,” she said. “Our core strength continues to lie in more stable, high-growth categories like F&B, FMCG, automobile, and finance.”

For creators, she emphasised the importance of diversifying. “Most were already cautious about promoting RMG,” Choudhary noted, adding that those directly involved will feel some impact. “By expanding into multiple categories, they can attract a wider range of brands and safeguard their income streams.”

She also described the ban as a double-edged moment for the industry. “On one hand, agencies will become more cautious in choosing gaming brands, backed by stronger contracts and compliance measures. On the other hand, those heavily dependent on gaming will face setbacks, with a temporary slowdown in growth.”

Mithun Chakravarthy, Communications Lead at Qoruz, said RMG was never a major driver of revenue for the firm. He pointed out that many influencers prefer campaigns aligned with their own brand values or audience interests.

“Even when such briefs come our way, creator comfort and brand fit guide our approach,” he said.

Chakravarthy agreed that the ban highlights the urgency of diversification. “Creators need to pivot away from RMG-dependent deals toward mainstream and emerging categories like fintech, esports, edtech, D2C, and lifestyle. Building authority in safer, evergreen niches will bring higher brand safety and more stable opportunities.”

He further noted the growing focus on compliance in influencer marketing. “Morality clauses and clear guidelines for sponsorships are the new norm,” he said. “Proactive disclosure and brand-safe content will be crucial for sustainability and future-proof reputation.”

According to him, the industry may ultimately benefit. “The ban is a disruptive shock, but it will advance greater compliance and maturity,” he said. “In the long run, we can expect a more credible, resilient creator economy.”