ED Uncovers Money Laundering via Kirana Stores Using Illegal Betting Apps

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.

What are some unethical thngs your funded company founders and core nepotism team.hve done?? Ex my ex company founder hired wife, sister, and friends as board of director giving 4 seats to the family itself + fancy designations like cfo, coo cmo and ceo. All took 5 lakhs per month each as salary which means 20 lakhs going home from VC funded money per month. 1 million fundraise goes home in about 3 - 4 years used to set up paralell businesses, etc and no money made in core business

Can anyone explain to me how betting apps like 1xbet are working in India. You can easily download them from the app/play store. Is there a loop hole there? Last I knew betting is illegal in India and is a criminal offence. Also any tips on IPL are welcome 😅

From what I hear from a friend who is aware of the leadership discussions, MPL might be looking to lay off close to 50% of its workforce and shut down most of its other BU’s to consolidate by October. This would include folks even till the SVP levels. This might be one of the first pins to fall with the 28% GST rule kicking in by October. Dark days ahead for online RMG industry in India

In the world of d11 and games 24x7, Mr. ashneers startup has failed miserably and proved that he is good in reels and shark tank only??

Kya dikat hai bhai, udane do paisa. Tumhare thodi hai. Good firms genuinely perform well and return money. The ecosystem is not forgiving -- you don't survive very long if you don't create any big wins. It's an extremely high stress job with very little WLB. You do make money but it comes at a cost. Layoffs are sad but at least those jobs existed in the first place? They wouldn't without VC money. India's VC scene is extremely young and it'll take time before we produce a Google. Entrepreneurs are not always right, they are not always nice either; but they definitely are courageous.

there has been a rise of betting apps industry in trend . but there involves a dark story of software engineers being made into a slavery house by these off shore betting companies. here is a real story of one such S/W engineer: there was a budding S/W engineer passed out from a Tier 2 college in a remote place in Uttarkhand. joins a small company as software engineer intern. learns and grooms himself during his time as intern. before getting a Full time offer from the company he was said to work with a dubai based betting app which does'nt have a company registered anywhere. when he asked for the work visa they threatened him with termination and made him accept to work in tourist visa. when going to dubai from india he was given a fake return ticket by the company . he was caught at immigration. then they sent him real ticket to escape from immigration. there he was made to work 18-19 hours per day without any day off like a slave with passport being held by the company for 4months. one day all the company PM's and managers absconded from dubai leaving him behind without any notice. then he somehow recovered their passport made his way back to india safely. this is not a single incident there are many people who got stuck in these shady peoples in countries like dubai/middle-east .