The exit of Dream11 as the jersey sponsor of the Indian team is just a fragment in a large ecosystem dominated by the fantasy gaming industry. The BCCI, traditionally a glue to the corporates and advertisers, will likely bounce back soon enough - may even onboard a sponsor by next fortnight itself when the Asia Cup starts. But the ripple effect of the government's decision to ban real money gaming will be felt across the landscape, as these were its chief oxygen supplier. For the cricketers too.

Gaming companies have been among the biggest spenders on advertising and endorsements, and cricketers will be among the most affected by the government's latest decision. Almost every Indian cricketer seen on television and holding an IPL contract has a tie-up with the real-money gaming firms. From Virat Kohli to Rahul Chahar, virtually every player was associated with them - and those sponsorship deals will now be off the table.

Players such as Rohit Sharma, Jasprit Bumrah, KL Rahul, Rishabh Pant and the Pandya brothers - Hardik and Krunal - were contracted to Dream11, while Shubman Gill, Mohammed Siraj, Yashasvi Jaiswal, Ruturaj Gaikwad, Rinku Singh and even Sourav Ganguly endorsed My11 Circle, the other major player in the real-money gaming market. Virat Kohli was linked to MPL, while MS Dhoni endorsed Winzo - both gaming firms that now stand to lose their marquee brand ambassadors and vice versa.

The brand endorsement values vary from player to player: Kohli's contract, for instance, was estimated at around INR 10-12 crore annually, while Rohit Sharma and Dhoni were believed to be in the INR 6-7 crore bracket. For younger or lesser-known players, the figures hover around INR 1 crore. Collectively, Indian cricketers are likely to lose between INR 150-200 crore a year from these terminated contracts as the latest law bans 'advertising and promotion of money games across all forms of the media.'

For the top players, these contracts may account for only about 5-10 percent of their overall endorsement income. But for some, the impact would be far greater - ranging from 50 to even 100 percent. Mohammed Siraj, for instance. Until recently, he was associated with three brands. So the loss of My11 Circle translates to a 33 percent cut in his endorsement earnings, just like Washington Sundar, who too has three brands. Sundar was associated with Dream11. For some other players, it effectively wipes out their entire endorsement income as these companies were the only brands on their roster.