Kinda sad to see that the GST implications have brought down the industry this bad. Not sure if this was good or bad :/

Welcome to News Discussion's Private Community

Ahead of IPL 2024, most fantasy gaming platforms have hit pause on huge marketing spends, and customer acquisition remains a challenge

IPL Blues For Fantasy Gaming

Looks like betting apps haven't been able to milk IPL. Their user growth has reduced, and looks like they're spending much lesser on marketing now.

Product Manager

Looks like betting apps haven't been able to milk IPL. Their user growth has reduced, and looks like they're spending much lesser on marketing now.- Grapevine

Welcome to Indian Startups's Private Community

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. ?

Are Indian fantasy gaming and betting apps going to die?

Digital Accessibility Technologist

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.

RMG (Real money Gaming) companies going dead

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.

Consultant

Founder

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

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

Software Engineer

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

Massive layoffs coming up at MPL

companies like MPL should not exist in the first place. Why promote gambling?. not for any moral reasons,  if someone wants to gamble, let them go to a casino and do it. Instead, making it easier for some one to gamble at  any time/anywhere is unacceptable.

Product Head

- The Indian Premier League's (IPL) business value has declined by 11.7% to $9.9 billion in 2024, marking its first significant drop.
- A reassessment of media rights values and the failed Zee-Sony merger are primary factors behind the decline.
- The Women's Premier League (WPL) saw an 8% increase in value, rising to $160 million.
- Mumbai Indians remain the most valued IPL franchise, followed by Chennai Super Kings.
- The shift towards digital platforms presents both opportunities and challenges for the IPL. 

 Source: [Business Standard](https://www.business-standard.com/finance/personal-finance/for-the-first-time-ipl-s-enterprise-value-drops-11-7-to-9-9-billion-124090400103_1.html)

IPL's Enterprise Value Drops 11.7% to $9.9 Billion Amid Market Shifts

Journalist

People in the firm what is happening? Is this the end of edtech and BYJUs? What went wrong?

Hearing really bad news from BYJUs, firm has silently laid off upto 15-20 K people in months

Growth Manager

Cleared all the rounds and even sent the HR the documents they asked for. They also said I would have to relocate to Mumbai. However it's been more than a week and they haven't rolled out an offer letter. HR said that since they invested so heavily in IPL, they are trying to reassess their budget for this quarter, that's why it's taking so long.

Should I be worried? I have a feeling that I even if I get an offer they might try to lowball me/lay off later.

Is Upstox running out of funds?

Jio paid almost 5000 Cr for digital streaming rights of IPL - I wonder if they actually make actual money from any of this, or is the whole thing just written off as a marketing spend?

IPL unsuprisingly makes bulk of its revenue from broadcasting rights

Growth And Strategy

Can someone explain me the economics of this?

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

MPL layoffs 350 employees

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

Are there any profitable Indian startups?

MPL is in big losses and the new valuation of MPL is hardly 300 million $ information from auditors.

MPL subsidiaries Striker , Mayhem ,  co-founders are fired

How is the business growth ? It’s just a sub vertical of YT gaming but they have made into a business.

Not sure about revenue but their last round was a year before. 

Also, Heard that they are fully remote. 

Rooter is another one which something similar in game streaming.

Reviews about Loco

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??

Ashneer Grover new Venture CricPe is dead

Senior Consultant

Everyone wants Google's distribution, but no one wants to pay for it.

Everyone wants Google to stop doing what it's doing, but no one wants to invest in an alternative.

Alternatives, if any coming up, from India will be of cheap quality. Does anyone remember what happened to BharatOS, or what's happening with Krutrim. 

What these app developers are not realising is that, their business is more or less happening because Android as an OS is there. It's not just about play store. 

I wonder why they're not cribbing against the Apple app store. 

Could the rates be lower? Yes.
But what's in it for Google or Apple when that entire section of business is because of them?

No one is stopping anyone from building a new OS, a better one. As long as a good quality one is not coming up, everyone will have to rely on Google or Apple. 

It feels really bad when the founders try to make it a national issue as well 🤦🏻‍♂️

Oh, and even if a new OS comes up, I wonder how they're going to sustain it, plus make people choose that without the availability of other apps.

Looks like betting apps haven't been able to milk IPL. Their user growth has reduced, and looks like they're spending much lesser on marketing now.

Discover More

Indian Startups on

by Aaron Gabriel

Flipkart

Are Indian fantasy gaming and betting apps going to die?

Indian Startups on

by Kendall Carmden

Stealth

RMG (Real money Gaming) companies going dead

Indian Startups on

by Aaron Hyrum

Google

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

Layoffs on

by Kendall Carmden

Stealth

Massive layoffs coming up at MPL

News Discussion on

by Matilda Taye

Grapevine

IPL's Enterprise Value Drops 11.7% to $9.9 Billion Amid Market Shifts

Layoffs on

by Jordon Gabriel

Startup

Hearing really bad news from BYJUs, firm has silently laid off upto 15-20 K people in months

Indian Startups on

by Kendall Carmden

Stealth

Is Upstox running out of funds?

News Discussion on

by Kendall Gabriel

Swiggy

IPL unsuprisingly makes bulk of its revenue from broadcasting rights

Indian Startups on

by Jordon Taye

TCS

Can someone explain me the economics of this?

Layoffs on

by Jordon Nadeen

Spinny

MPL layoffs 350 employees

Indian Startups on

by Kendall Lee

Stealth

Are there any profitable Indian startups?

Layoffs on

by Blair Carmden

Stealth

MPL subsidiaries Striker , Mayhem , co-founders are fired

Indian Startups on

by Matilda Everett

Jobless

Reviews about Loco

Indian Startups on

by Anise Nadeen

TCS

Ashneer Grover new Venture CricPe is dead

Misc on

by Jordon Lee

Target

Rant about Google Play Store