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Are Indian betting companies over?

Talking about MPL, Dream11, Ashneer’s startup, etc Given the current tax problems that these companies are going to face from the government, are these companies over or going to get over some time soon?

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AlphaGrindset

Series A Startup

a year ago

Dream 11 cut targets down by 70-80% from what I read Probo is fighting multiple legal cases A friend of mine who was building in the space and had term sheets, they’ve dropped the idea now because of the looming uncertainty This is definitely a dark period for that industry
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ElomDusk

Grapevine

a year ago

Damn really sad to hear this about your friend’s startup. Dream 11 cutting by 70-80% is huge considering the close government connections they have - seems like even they cannot control this
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Poseidon

Gojek

a year ago

i don't even think it was a populist measure to appease the masses, what's really the thought process behind this? few states were banning them, let the state govt decide whether to ban it or not, why bring in gst and kill the industry? i am yet to come across a good article explaining the rationale behind the entire decision.
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punydrama

Stealth

a year ago

bhikari hain sarkar...kal ev market achha hoga to subsidy hatake, petrol se jyaada bhav bijlee benchegi. They should fix on the money wasted on election and corruption, and stop sucking the blood of people
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AliveYouth71

Stealth

a year ago

Yes
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Indian Startups on

by KanyeEast

Flipkart

Are Indian fantasy gaming and betting apps going to die?

There’s no way they can foot the retrospective GST tax dues to the. Government. What next for them ? Dream 11 is Ambani safe haven - will it somehow get saved. ?

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Layoffs on

by DarkerKnight

Stealth

Would other companies follow suit as MPL?

Cos like dream 11, games 24x7, Junglee games? Should they be worried too?

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Layoffs on

by SeriousProcastinator

Spinny

MPL layoffs 350 employees

MPL layoffs 50% of their indian workforce ~ 350 employees After the 28% GST rule

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Indian Startups on

by misterwhistler

Stealth

RMG (Real money Gaming) companies going dead

Becoz of GST many companies are pivoting or changing gaming algo to make players loose to pay GST. Game of chances are being launched 1. MPL , Launched betting games 2. Zuppee , teen patti and betting games 3. Games craft , rummy circle rigged card distribution 4. Tradex , Probo Mostly will shut down 5. Rummy apps , Better opinion , tamasha and other small companies are planning to shut down RMG part 6. Nazara acquired RMG companies are unable to operate 7. Octro is closing the RMG app. What more ? If anyone knows do share up.

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Indian Startups on

by Akadbhakad

East India Company

Are there any profitable Indian startups?

I'm talking about real profits, startups that generate good revenue and do not depend on VC money.

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Office Gossip on

by Incignito

Early Stage Startup

Big News!!! exits in gaming

With govt breathing down neck of all gaming RMG cos heard some big names are leaving 1. Senior leadership exits at one of the big Rummy RMG players. Silent exits expected of one entire layer because they don’t want to message that they are not doing well with all govt GST laws. Business drop by 50% 2. Mobile Premier League / MPL CEO cofounder is going to step down. The other cofounder who runs the company day2day will take over. News is that CEO has been on vacation even with all this GST action & some notices they got. laying off 50% of company & then with 20cr house think he has done enough RMG is most happening industry across !!!

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Indian Startups on

by AGIcoming

Google

28% GST on online gaming. Tough times for dream11, mpl etc

Online gaming startups are among those rare breeds which were profitable . With this move, even they will be forced to do layoffs..