Becoz of GST many companies are pivoting or changing gaming algo to make players loose to pay GST. Game of chances are being launched
What more ? If anyone knows do share up.
Hoping they all close ASAP. 28% GST is not enough. It should be higher at 50%.
Westerners used Internet and computing to design better planes and build better engines, our guys are using it to play cards.
Your comment makes no sense. There are many betting apps in the US too
legal betting is a lot more prevalent in the west than here - and india has its fare share of illegal betting and matka - making it online and accessible isn’t such a bad thing
Surprised to see so much misinformation on this post. This is as far away from the truth as one can be.
All the games were already rigged before GST even came in 💀 Ever wondered how they minted money in the hay days. The house always wins.
There’s guardrails in place around what games the company can and cannot build. Any game needs legal opinion from a judge and data on player P&L needs to be shared so that it’s clear that engaged players have better performance. Also - the board numbers are MPL consolidated so moving someone from one team to another doesn’t change the overall numbers.
Legal opinion you can get from any lawyer and judges are bought with money. The only rule is ki game of chance is illegal. Adding skill word doesn't makes it skill based. P&L optimisation is known, your ex employees have told MPL stories to many founders & investors in their interviews
Isn’t any card game a game of chance to some extent? Rummy is also a game of chance since there's a deck involved, and so is Poker - but that’s not what the courts have said. It’s up to the courts to give a verdict, not individuals
MPL has launched betting games coz now there is a flat 28 percent gst. It doesn’t matter if you run skill games or game of chance. And to be honest MPL is here to stay, not sure about other gaming apps. MPL’s revenue has increased by 60% since the declaration of GST. And according to projection it will touch the same profit level that it had preGST within 5-10 months
Yeah MPL is smart will stay if continue gambling but playing black. Chance based games are illegal. Just adding skill in front of the game doesn't make it skill based.😅
Ever Heard of Kalshi, everything new at first is opposed with some resistance
Good Concept, implemented by some companies in India too
Kalshi is regulated but in india players are not regulated and margin is 1.5% GST 28% so net loss on tax itself is high. 3 players in this space are closing companies , Betteropinion, tamasha , opinion trading app by gameskraft and many more are shutting shops
Probo, MPL Opinio both are generating profits, in these apps no possibility of rigging the game, it’s the users that decide the market conditions. But yes needs to be regulated
Nirlajj........ye apps fir aa gaye??
With govt breathing down neck of all gaming RMG cos heard some big names are leaving
I will start. Don't ask me to prove anything.
The CEO of MPL bought a ~20cr house in embassy grove, Bangalore just before laying off 50% of the MPL team this week.
VC funded Live streaming apps like rooter, eloelo, are basically...
A relative of mine lost INR 20 Lakhs in RummyCircle. He is above 50 years old and lives in a village.
MPL was planning a big offsite for the whole team to GOA. Cancelled after the 28% announcement. Penetration is rea...
Interesting. Tell us more about RMG industry secrets
Online gaming startups are among those rare breeds which were profitable . With this move, even they will be forced to do layoffs..
