diff --git a/osu.Game.Tests/Visual/Multiplayer/TestSceneDrawableRoomParticipantsList.cs b/osu.Game.Tests/Visual/Multiplayer/TestSceneDrawableRoomParticipantsList.cs
index 1e7003c612..3d0c1be22c 100644
--- a/osu.Game.Tests/Visual/Multiplayer/TestSceneDrawableRoomParticipantsList.cs
+++ b/osu.Game.Tests/Visual/Multiplayer/TestSceneDrawableRoomParticipantsList.cs
@@ -143,13 +143,13 @@ namespace osu.Game.Tests.Visual.Multiplayer
                 Id = id,
                 Username = $"User {id}"
             });
-            SelectedRoom.Value.ParticipantCount.Value++;
+            SelectedRoom.Value.ParticipantCount++;
         }
 
         private void removeUserAt(int index)
         {
             SelectedRoom.Value.RecentParticipants.RemoveAt(index);
-            SelectedRoom.Value.ParticipantCount.Value--;
+            SelectedRoom.Value.ParticipantCount--;
         }
     }
 }
diff --git a/osu.Game.Tests/Visual/Multiplayer/TestSceneMultiplayer.cs b/osu.Game.Tests/Visual/Multiplayer/TestSceneMultiplayer.cs
index 6e9c18f040..e625d23779 100644
--- a/osu.Game.Tests/Visual/Multiplayer/TestSceneMultiplayer.cs
+++ b/osu.Game.Tests/Visual/Multiplayer/TestSceneMultiplayer.cs
@@ -248,7 +248,7 @@ namespace osu.Game.Tests.Visual.Multiplayer
                 }
             });
 
-            AddUntilStep("Check participant count correct", () => multiplayerClient.ClientAPIRoom?.ParticipantCount.Value == 1);
+            AddUntilStep("Check participant count correct", () => multiplayerClient.ClientAPIRoom?.ParticipantCount == 1);
             AddUntilStep("Check participant list contains user", () => multiplayerClient.ClientAPIRoom?.RecentParticipants.Count(u => u.Id == API.LocalUser.Value.Id) == 1);
         }
 
@@ -308,7 +308,7 @@ namespace osu.Game.Tests.Visual.Multiplayer
             AddUntilStep("wait for room open", () => this.ChildrenOfType<MultiplayerMatchSubScreen>().FirstOrDefault()?.IsLoaded == true);
             AddUntilStep("wait for join", () => multiplayerClient.RoomJoined);
 
-            AddUntilStep("Check participant count correct", () => multiplayerClient.ClientAPIRoom?.ParticipantCount.Value == 1);
+            AddUntilStep("Check participant count correct", () => multiplayerClient.ClientAPIRoom?.ParticipantCount == 1);
             AddUntilStep("Check participant list contains user", () => multiplayerClient.ClientAPIRoom?.RecentParticipants.Count(u => u.Id == API.LocalUser.Value.Id) == 1);
         }
 
diff --git a/osu.Game.Tests/Visual/Playlists/TestScenePlaylistsParticipantsList.cs b/osu.Game.Tests/Visual/Playlists/TestScenePlaylistsParticipantsList.cs
index b9e5875e06..2368a2068d 100644
--- a/osu.Game.Tests/Visual/Playlists/TestScenePlaylistsParticipantsList.cs
+++ b/osu.Game.Tests/Visual/Playlists/TestScenePlaylistsParticipantsList.cs
@@ -38,7 +38,7 @@ namespace osu.Game.Tests.Visual.Playlists
         {
             AddStep("create component", () =>
             {
-                Child = new ParticipantsDisplay(Direction.Horizontal)
+                Child = new ParticipantsDisplay(SelectedRoom.Value, Direction.Horizontal)
                 {
                     Anchor = Anchor.Centre,
                     Origin = Anchor.Centre,
@@ -52,7 +52,7 @@ namespace osu.Game.Tests.Visual.Playlists
         {
             AddStep("create component", () =>
             {
-                Child = new ParticipantsDisplay(Direction.Vertical)
+                Child = new ParticipantsDisplay(SelectedRoom.Value, Direction.Vertical)
                 {
                     Anchor = Anchor.Centre,
                     Origin = Anchor.Centre,
diff --git a/osu.Game/Online/Multiplayer/MultiplayerClient.cs b/osu.Game/Online/Multiplayer/MultiplayerClient.cs
index a9c0108661..3a9f728b41 100644
--- a/osu.Game/Online/Multiplayer/MultiplayerClient.cs
+++ b/osu.Game/Online/Multiplayer/MultiplayerClient.cs
@@ -492,7 +492,7 @@ namespace osu.Game.Online.Multiplayer
                 Id = user.UserID,
                 Username = "[Unresolved]"
             });
-            APIRoom.ParticipantCount.Value++;
+            APIRoom.ParticipantCount++;
         }
 
         private Task handleUserLeft(MultiplayerRoomUser user, Action<MultiplayerRoomUser>? callback)
@@ -507,7 +507,7 @@ namespace osu.Game.Online.Multiplayer
 
                 Debug.Assert(APIRoom != null);
                 APIRoom.RecentParticipants.RemoveAll(u => u.Id == user.UserID);
-                APIRoom.ParticipantCount.Value--;
+                APIRoom.ParticipantCount--;
 
                 callback?.Invoke(user);
                 RoomUpdated?.Invoke();
diff --git a/osu.Game/Online/Rooms/Room.cs b/osu.Game/Online/Rooms/Room.cs
index b945d1b886..b63ebd107d 100644
--- a/osu.Game/Online/Rooms/Room.cs
+++ b/osu.Game/Online/Rooms/Room.cs
@@ -86,6 +86,24 @@ namespace osu.Game.Online.Rooms
             set => SetField(ref category, value);
         }
 
+        /// <summary>
+        /// The maximum number of users allowed in the room.
+        /// </summary>
+        public int? MaxParticipants
+        {
+            get => maxParticipants;
+            set => SetField(ref maxParticipants, value);
+        }
+
+        /// <summary>
+        /// The current number of users in the room.
+        /// </summary>
+        public int ParticipantCount
+        {
+            get => participantCount;
+            set => SetField(ref participantCount, value);
+        }
+
         /// <summary>
         /// The match type.
         /// </summary>
@@ -162,6 +180,12 @@ namespace osu.Game.Online.Rooms
         [JsonConverter(typeof(SnakeCaseStringEnumConverter))]
         private RoomCategory category;
 
+        // Not yet serialised (not implemented).
+        private int? maxParticipants;
+
+        [JsonProperty("participant_count")]
+        private int participantCount;
+
         [JsonConverter(typeof(SnakeCaseStringEnumConverter))]
         [JsonProperty("type")]
         private MatchType type;
@@ -211,9 +235,6 @@ namespace osu.Game.Online.Rooms
             set => AutoStartDuration.Value = TimeSpan.FromSeconds(value);
         }
 
-        [Cached]
-        public readonly Bindable<int?> MaxParticipants = new Bindable<int?>();
-
         [Cached]
         [JsonProperty("current_user_score")]
         public readonly Bindable<PlaylistAggregateScore> UserScore = new Bindable<PlaylistAggregateScore>();
@@ -222,10 +243,6 @@ namespace osu.Game.Online.Rooms
         [JsonProperty("recent_participants")]
         public readonly BindableList<APIUser> RecentParticipants = new BindableList<APIUser>();
 
-        [Cached]
-        [JsonProperty("participant_count")]
-        public readonly Bindable<int> ParticipantCount = new Bindable<int>();
-
         #region Properties only used for room creation request
 
         [Cached]
@@ -286,8 +303,8 @@ namespace osu.Game.Online.Rooms
             Availability = other.Availability;
             HasPassword = other.HasPassword;
             Type = other.Type;
-            MaxParticipants.Value = other.MaxParticipants.Value;
-            ParticipantCount.Value = other.ParticipantCount.Value;
+            MaxParticipants = other.MaxParticipants;
+            ParticipantCount = other.ParticipantCount;
             EndDate.Value = other.EndDate.Value;
             UserScore.Value = other.UserScore.Value;
             QueueMode = other.QueueMode;
diff --git a/osu.Game/Screens/OnlinePlay/Components/ParticipantCountDisplay.cs b/osu.Game/Screens/OnlinePlay/Components/ParticipantCountDisplay.cs
index 9f7e700ab3..f9744717d5 100644
--- a/osu.Game/Screens/OnlinePlay/Components/ParticipantCountDisplay.cs
+++ b/osu.Game/Screens/OnlinePlay/Components/ParticipantCountDisplay.cs
@@ -1,13 +1,13 @@
 // Copyright (c) ppy Pty Ltd <contact@ppy.sh>. Licensed under the MIT Licence.
 // See the LICENCE file in the repository root for full licence text.
 
-#nullable disable
-
+using System.ComponentModel;
 using osu.Framework.Allocation;
 using osu.Framework.Graphics;
 using osu.Framework.Graphics.Containers;
 using osu.Game.Graphics;
 using osu.Game.Graphics.Sprites;
+using osu.Game.Online.Rooms;
 
 namespace osu.Game.Screens.OnlinePlay.Components
 {
@@ -16,18 +16,21 @@ namespace osu.Game.Screens.OnlinePlay.Components
         private const float text_size = 30;
         private const float transition_duration = 100;
 
-        private OsuSpriteText slash, maxText;
+        private readonly Room room;
 
-        public ParticipantCountDisplay()
+        private OsuSpriteText slash = null!;
+        private OsuSpriteText maxText = null!;
+        private OsuSpriteText count = null!;
+
+        public ParticipantCountDisplay(Room room)
         {
+            this.room = room;
             AutoSizeAxes = Axes.Both;
         }
 
         [BackgroundDependencyLoader]
         private void load()
         {
-            OsuSpriteText count;
-
             InternalChild = new FillFlowContainer
             {
                 AutoSizeAxes = Axes.Both,
@@ -50,14 +53,33 @@ namespace osu.Game.Screens.OnlinePlay.Components
                     },
                 }
             };
-
-            MaxParticipants.BindValueChanged(_ => updateMax(), true);
-            ParticipantCount.BindValueChanged(c => count.Text = c.NewValue.ToString("#,0"), true);
         }
 
-        private void updateMax()
+        protected override void LoadComplete()
         {
-            if (MaxParticipants.Value == null)
+            base.LoadComplete();
+
+            room.PropertyChanged += onRoomPropertyChanged;
+            updateRoomParticipantCount();
+        }
+
+        private void onRoomPropertyChanged(object? sender, PropertyChangedEventArgs e)
+        {
+            switch (e.PropertyName)
+            {
+                case nameof(Room.MaxParticipants):
+                    updateRoomMaxParticipants();
+                    break;
+
+                case nameof(Room.ParticipantCount):
+                    updateRoomParticipantCount();
+                    break;
+            }
+        }
+
+        private void updateRoomMaxParticipants()
+        {
+            if (room.MaxParticipants == null)
             {
                 slash.FadeOut(transition_duration);
                 maxText.FadeOut(transition_duration);
@@ -65,9 +87,18 @@ namespace osu.Game.Screens.OnlinePlay.Components
             else
             {
                 slash.FadeIn(transition_duration);
-                maxText.Text = MaxParticipants.Value.ToString();
+                maxText.Text = room.MaxParticipants.ToString()!;
                 maxText.FadeIn(transition_duration);
             }
         }
+
+        private void updateRoomParticipantCount()
+            => count.Text = room.ParticipantCount.ToString("#,0");
+
+        protected override void Dispose(bool isDisposing)
+        {
+            base.Dispose(isDisposing);
+            room.PropertyChanged -= onRoomPropertyChanged;
+        }
     }
 }
diff --git a/osu.Game/Screens/OnlinePlay/Components/ParticipantsDisplay.cs b/osu.Game/Screens/OnlinePlay/Components/ParticipantsDisplay.cs
index 5128bc4c14..1ae2756514 100644
--- a/osu.Game/Screens/OnlinePlay/Components/ParticipantsDisplay.cs
+++ b/osu.Game/Screens/OnlinePlay/Components/ParticipantsDisplay.cs
@@ -1,19 +1,23 @@
 // Copyright (c) ppy Pty Ltd <contact@ppy.sh>. Licensed under the MIT Licence.
 // See the LICENCE file in the repository root for full licence text.
 
-using osu.Framework.Allocation;
+using System.ComponentModel;
 using osu.Framework.Bindables;
 using osu.Framework.Graphics;
 using osu.Game.Graphics.Containers;
+using osu.Game.Online.Rooms;
 
 namespace osu.Game.Screens.OnlinePlay.Components
 {
     public partial class ParticipantsDisplay : OnlinePlayComposite
     {
-        public Bindable<string> Details = new Bindable<string>();
+        public readonly Bindable<string> Details = new Bindable<string>();
 
-        public ParticipantsDisplay(Direction direction)
+        private readonly Room room;
+
+        public ParticipantsDisplay(Room room, Direction direction)
         {
+            this.room = room;
             OsuScrollContainer scroll;
             ParticipantsList list;
 
@@ -46,14 +50,32 @@ namespace osu.Game.Screens.OnlinePlay.Components
             }
         }
 
-        [BackgroundDependencyLoader]
-        private void load()
+        protected override void LoadComplete()
         {
-            ParticipantCount.BindValueChanged(_ => setParticipantCount());
-            MaxParticipants.BindValueChanged(_ => setParticipantCount(), true);
+            base.LoadComplete();
+
+            room.PropertyChanged += onRoomPropertyChanged;
+            updateRoomParticipantCount();
         }
 
-        private void setParticipantCount() =>
-            Details.Value = MaxParticipants.Value != null ? $"{ParticipantCount.Value}/{MaxParticipants.Value}" : ParticipantCount.Value.ToString();
+        private void onRoomPropertyChanged(object? sender, PropertyChangedEventArgs e)
+        {
+            switch (e.PropertyName)
+            {
+                case nameof(Room.MaxParticipants):
+                case nameof(Room.ParticipantCount):
+                    updateRoomParticipantCount();
+                    break;
+            }
+        }
+
+        private void updateRoomParticipantCount()
+            => Details.Value = room.MaxParticipants != null ? $"{room.ParticipantCount}/{room.MaxParticipants}" : room.ParticipantCount.ToString();
+
+        protected override void Dispose(bool isDisposing)
+        {
+            base.Dispose(isDisposing);
+            room.PropertyChanged -= onRoomPropertyChanged;
+        }
     }
 }
diff --git a/osu.Game/Screens/OnlinePlay/Lounge/Components/DrawableRoomParticipantsList.cs b/osu.Game/Screens/OnlinePlay/Lounge/Components/DrawableRoomParticipantsList.cs
index 2ffe740e24..06ae939842 100644
--- a/osu.Game/Screens/OnlinePlay/Lounge/Components/DrawableRoomParticipantsList.cs
+++ b/osu.Game/Screens/OnlinePlay/Lounge/Components/DrawableRoomParticipantsList.cs
@@ -166,14 +166,11 @@ namespace osu.Game.Screens.OnlinePlay.Lounge.Components
             base.LoadComplete();
 
             RecentParticipants.BindCollectionChanged(onParticipantsChanged, true);
-            ParticipantCount.BindValueChanged(_ =>
-            {
-                updateHiddenUsers();
-                totalCount.Text = ParticipantCount.Value.ToString();
-            }, true);
 
             room.PropertyChanged += onRoomPropertyChanged;
+
             updateRoomHost();
+            updateRoomParticipantCount();
         }
 
         private int numberOfCircles = 4;
@@ -257,7 +254,7 @@ namespace osu.Game.Screens.OnlinePlay.Lounge.Components
         {
             int hiddenCount = 0;
             if (RecentParticipants.Count > NumberOfCircles)
-                hiddenCount = ParticipantCount.Value - NumberOfCircles + 1;
+                hiddenCount = room.ParticipantCount - NumberOfCircles + 1;
 
             hiddenUsers.Count = hiddenCount;
 
@@ -272,8 +269,16 @@ namespace osu.Game.Screens.OnlinePlay.Lounge.Components
 
         private void onRoomPropertyChanged(object? sender, PropertyChangedEventArgs e)
         {
-            if (e.PropertyName == nameof(Room.Host))
-                updateRoomHost();
+            switch (e.PropertyName)
+            {
+                case nameof(Room.Host):
+                    updateRoomHost();
+                    break;
+
+                case nameof(Room.ParticipantCount):
+                    updateRoomParticipantCount();
+                    break;
+            }
         }
 
         private void updateRoomHost()
@@ -288,6 +293,12 @@ namespace osu.Game.Screens.OnlinePlay.Lounge.Components
             }
         }
 
+        private void updateRoomParticipantCount()
+        {
+            updateHiddenUsers();
+            totalCount.Text = room.ParticipantCount.ToString();
+        }
+
         protected override void Dispose(bool isDisposing)
         {
             base.Dispose(isDisposing);
diff --git a/osu.Game/Screens/OnlinePlay/Multiplayer/Match/MultiplayerMatchSettingsOverlay.cs b/osu.Game/Screens/OnlinePlay/Multiplayer/Match/MultiplayerMatchSettingsOverlay.cs
index 62d6459487..141bddc4d4 100644
--- a/osu.Game/Screens/OnlinePlay/Multiplayer/Match/MultiplayerMatchSettingsOverlay.cs
+++ b/osu.Game/Screens/OnlinePlay/Multiplayer/Match/MultiplayerMatchSettingsOverlay.cs
@@ -350,7 +350,6 @@ namespace osu.Game.Screens.OnlinePlay.Multiplayer.Match
                 };
 
                 TypePicker.Current.BindValueChanged(type => typeLabel.Text = type.NewValue.GetLocalisableDescription(), true);
-                MaxParticipants.BindValueChanged(count => MaxParticipantsField.Text = count.NewValue?.ToString(), true);
                 AutoStartDuration.BindValueChanged(duration => startModeDropdown.Current.Value = (StartMode)(int)duration.NewValue.TotalSeconds, true);
 
                 operationInProgress.BindTo(ongoingOperationTracker.InProgress);
@@ -377,6 +376,7 @@ namespace osu.Game.Screens.OnlinePlay.Multiplayer.Match
                 updateRoomQueueMode();
                 updateRoomPassword();
                 updateRoomAutoSkip();
+                updateRoomMaxParticipants();
             }
 
             private void onRoomPropertyChanged(object? sender, PropertyChangedEventArgs e)
@@ -402,6 +402,10 @@ namespace osu.Game.Screens.OnlinePlay.Multiplayer.Match
                     case nameof(Room.AutoSkip):
                         updateRoomAutoSkip();
                         break;
+
+                    case nameof(Room.MaxParticipants):
+                        updateRoomMaxParticipants();
+                        break;
                 }
             }
 
@@ -420,6 +424,9 @@ namespace osu.Game.Screens.OnlinePlay.Multiplayer.Match
             private void updateRoomAutoSkip()
                 => AutoSkipCheckbox.Current.Value = room.AutoSkip;
 
+            private void updateRoomMaxParticipants()
+                => MaxParticipantsField.Text = room.MaxParticipants?.ToString();
+
             protected override void Update()
             {
                 base.Update();
@@ -469,9 +476,9 @@ namespace osu.Game.Screens.OnlinePlay.Multiplayer.Match
                     room.AutoSkip = AutoSkipCheckbox.Current.Value;
 
                     if (int.TryParse(MaxParticipantsField.Text, out int max))
-                        room.MaxParticipants.Value = max;
+                        room.MaxParticipants = max;
                     else
-                        room.MaxParticipants.Value = null;
+                        room.MaxParticipants = null;
 
                     manager.CreateRoom(room, onSuccess, onError);
                 }
diff --git a/osu.Game/Screens/OnlinePlay/OnlinePlayComposite.cs b/osu.Game/Screens/OnlinePlay/OnlinePlayComposite.cs
index 2b1c9cf00a..7623cbabbd 100644
--- a/osu.Game/Screens/OnlinePlay/OnlinePlayComposite.cs
+++ b/osu.Game/Screens/OnlinePlay/OnlinePlayComposite.cs
@@ -27,12 +27,6 @@ namespace osu.Game.Screens.OnlinePlay
         [Resolved(typeof(Room))]
         protected BindableList<APIUser> RecentParticipants { get; private set; } = null!;
 
-        [Resolved(typeof(Room))]
-        protected Bindable<int> ParticipantCount { get; private set; } = null!;
-
-        [Resolved(typeof(Room))]
-        protected Bindable<int?> MaxParticipants { get; private set; } = null!;
-
         [Resolved(typeof(Room))]
         protected Bindable<int?> MaxAttempts { get; private set; } = null!;
 
diff --git a/osu.Game/Screens/OnlinePlay/Playlists/PlaylistsRoomSettingsOverlay.cs b/osu.Game/Screens/OnlinePlay/Playlists/PlaylistsRoomSettingsOverlay.cs
index aee26e544a..20fbe42dd5 100644
--- a/osu.Game/Screens/OnlinePlay/Playlists/PlaylistsRoomSettingsOverlay.cs
+++ b/osu.Game/Screens/OnlinePlay/Playlists/PlaylistsRoomSettingsOverlay.cs
@@ -316,7 +316,6 @@ namespace osu.Game.Screens.OnlinePlay.Playlists
                     loadingLayer = new LoadingLayer(true)
                 };
 
-                MaxParticipants.BindValueChanged(count => MaxParticipantsField.Text = count.NewValue?.ToString(), true);
                 MaxAttempts.BindValueChanged(count => MaxAttemptsField.Text = count.NewValue?.ToString(), true);
                 Duration.BindValueChanged(duration => DurationField.Current.Value = duration.NewValue ?? TimeSpan.FromMinutes(30), true);
 
@@ -346,6 +345,7 @@ namespace osu.Game.Screens.OnlinePlay.Playlists
 
                 updateRoomName();
                 updateRoomAvailability();
+                updateRoomMaxParticipants();
             }
 
             private void onRoomPropertyChanged(object? sender, PropertyChangedEventArgs e)
@@ -359,6 +359,10 @@ namespace osu.Game.Screens.OnlinePlay.Playlists
                     case nameof(Room.Availability):
                         updateRoomAvailability();
                         break;
+
+                    case nameof(Room.MaxParticipants):
+                        updateRoomMaxParticipants();
+                        break;
                 }
             }
 
@@ -368,6 +372,9 @@ namespace osu.Game.Screens.OnlinePlay.Playlists
             private void updateRoomAvailability()
                 => AvailabilityPicker.Current.Value = room.Availability;
 
+            private void updateRoomMaxParticipants()
+                => MaxParticipantsField.Text = room.MaxParticipants?.ToString();
+
             private void populateDurations(ValueChangedEvent<APIUser> user)
             {
                 // roughly correct (see https://github.com/Humanizr/Humanizer/blob/18167e56c082449cc4fe805b8429e3127a7b7f93/readme.md?plain=1#L427)
@@ -417,11 +424,7 @@ namespace osu.Game.Screens.OnlinePlay.Playlists
 
                 room.Name = NameField.Text;
                 room.Availability = AvailabilityPicker.Current.Value;
-
-                if (int.TryParse(MaxParticipantsField.Text, out int max))
-                    MaxParticipants.Value = max;
-                else
-                    MaxParticipants.Value = null;
+                room.MaxParticipants = int.TryParse(MaxParticipantsField.Text, out int max) ? max : null;
 
                 if (int.TryParse(MaxAttemptsField.Text, out max))
                     MaxAttempts.Value = max;