The pervasive nature of online gaming, notably accentuated during the COVID-19 pandemic, has spurred concerns regarding gaming addiction among children. This study explores the intricate ramifications of online gaming addiction on the academic performance and social dynamics of children in Bangladesh. Our primary objective is to gauge the extent of online gaming addiction and unravel its profound effects on academic performance. Conducting a nationwide survey from January 1, 2023, to June 30, 2023, we analyzed 502 responses from participants aged 6-17 years. The survey encompassed sociodemographic details, gaming addiction assessment, and academic performance following a simple random sampling method. We analyzed participant demographics utilizing descriptive statistics, chi-square tests, and logistic regression. Key findings revealed a majority within the 13-17 age bracket (75.50%), predominantly male (58.57%), and enrolled in secondary education (83.27%). A robust inverse relationship showed that nonaddicted students towards online gaming had higher academic performance. Therefore, it is important to implement targeted strategies to address online gaming addiction among Bangladeshi children. Recommending early intervention, academic initiatives, and holistic therapy, we advocate for collaboration among educational institutions, mental health professionals, parents, and policymakers. All of these initiatives are essential to navigate the evolving challenges presented by gaming addiction. Furthermore, our call for ongoing research seeks to deepen our understanding of enduring consequences on academic and social dimensions, fostering a digitally supportive environment conducive to the holistic well-being of children.