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.
Qwerty2398
Stealth
8 months ago
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.
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
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misterwhistler
Stealth
8 months ago
Dream 11 will survive as they rig at mass
They are valued at an almost deco corn status. If what you’re saying is right, something must be done about it.
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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.
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
misterwhistler
Stealth
8 months ago
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.😅
Wait till Adani enters the crypto game and you'll see the laws changing. The same happened in the US when BlackRock entered the crypto game.
SoftApp38
Stealth
8 months ago
Source: trust me bro
Borosil_Carrier
Stealth
8 months ago
Dream11’s founder is in close circles of the Ambani family.
Soooo yeah, they are not going dead anytime soon.
They made $310 mil in profits in this year even after gst effect. Probably enough to survive a long time.
IMO, these are nothing different than lottery tickets. Consumes family savings and lives. Good riddance.
misterwhistler
Stealth
8 months ago
Rigged rummy game profitable not shutting shop as looting customers at large volume like gameskraft
misterwhistler
Stealth
8 months ago
Gamekraft is rigged RMG apps and they do black money to white money operations.
Gameberry is doing real good. True & Best gaming company.
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.
misterwhistler
Stealth
8 months ago
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
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shaozam47
Student
8 months ago
Ever Heard of Kalshi, everything new at first is opposed with some resistance
Good Concept, implemented by some companies in India too
misterwhistler
Stealth
8 months ago
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
shaozam47
Student
8 months ago
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
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In India Skill games like Rummy, Fantasy Sports and Poker are legal. Some states try to ban them but courts remove the ban. Read EY report of future of gaming in India
Vegetabledev22
Stealth
8 months ago
betting apps, crypto and edtech were unsustainable ideas in long run because simply indian consumers, society and govt would have never accepted it.
You see when you take job in any company you need to focus on what policies govt/RBI has around it.
You cant play with nirmala tai, she plays with you. lmao
Sorry but, isnt po₹n unaccepted among society and govt? But still apps like ullu are making money. Also byjus in initial years was doing great. When greed got involved it worsen. Can agree with crytpo and betting apps, they wont work
Vegetabledev22
Stealth
8 months ago
@FreshlyBrewed lmaooo, well if you have body to work in the adult industry, go for it. But again how long before some govt agency turns its eyes towards it ?
What i meant to say is, when basis of idea is not strong it cant run for long.
For example - medicine is a strong and regulated industry, making drugs with opiods will not get govt approval so coming up with an idea of using opiods to kill pain will be futile. So taking a job in a company that supposedly works on this in hopes of getting a nod, only to come crashing down when govt does a raid is like hitting yourself with axe.
Surprised to see so much misinformation on this post. This is as far away from the truth as one can be.
I am least aware about RMG,
So can you tell what's wrong with this post? And what's truth?
misterwhistler
Stealth
8 months ago
@NoisyRefusal don't worry you job is safe MPL is running betting games so might survive but not all companies. 😅
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Rakz
Stealth
8 months ago
If you're playing against the house then the case of rigging might come in but if the business model is to provide a platform for 2 or more people to gamble and just take a platform fees, don't see much problem with that because either ways if this platform doesn't exist those people will find some other platform to gamble.
