JazzyPretzel

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?

17mo ago

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WigglyBanana

Stealth17mo

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

JazzyPretzel

Sharechat17mo

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

DizzyBiscuit

Gojek17mo

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.

JumpyUnicorn

Stealth17mo

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