New Delhi, March 10 – Leading industry associations representing online real money gaming companies have collectively signed a code of conduct aimed at promoting user safety and responsible gaming practices. The initiative, announced on Monday, includes key organizations such as the All India Gaming Federation (AIGF), the Federation of Indian Fantasy Sports (FIFS), and the E-Gaming Federation (EGF).

As per agency report, the newly adopted Code of Ethics (CoE) mandates member companies to implement Know Your Customer (KYC) verification and set spending limits for users. This step aims to ensure greater accountability and transparency within the industry while fostering a safer gaming environment.

Several prominent gaming platforms, including Dream11, My11Circle, Khelo Fantasy Live, SG11 Fantasy, WinZO, Games 24x7, and Junglee Games, have committed to adhering to these guidelines. The CoE also outlines stricter advertising policies to prevent misleading promotions and reinforce responsible gaming measures.

The gaming industry’s move comes amid growing scrutiny over online gaming regulations in India. By implementing these safeguards, industry leaders hope to align with regulatory expectations and address concerns related to excessive gaming and financial risks associated with real money gaming platforms.

People often dismiss poker as just another gambling game. But look closer, and you'll see it's actually a mental battleground. Players don't just shuffle cards; they're locked in psychological warfare, rapid calculations, and split-second decisions. And surprisingly, the skills developed at the poker table often translate remarkably well to real-world scenarios.

Talk to successful Wall Street traders, business owners, or corporate strategists, and many will tell you they've learned valuable lessons from poker. It's not just bar talk, either. A Federal Reserve Bank study found something interesting: when they looked at what made professional traders successful, it wasn't pure intelligence that mattered most. Instead, it was strategic sophistication, exactly the kind of thinking poker demands.

This connection isn't accidental. Poker forces players to read opponents, calculate odds on the fly, manage resources, and stay cool under pressure. Sound familiar? These are precisely the skills that drive success in competitive business environments.

Getting Better at Poker Online Means Getting Better at Strategy

These days, the poker game online has changed how people develop these strategic muscles. Instead of having to ring up dingy card rooms, players can access poker anywhere, at any time. This access has democratized skill-building strategic thought in ways undreamed of before.

The internet environment turbocharges learning. Whereas a live poker table may give 30 hands an hour, online players see hundreds. That translates into more decisions, more feedback, and quicker learning. It's strategic thinking on steroids; players accumulate years of experience in months.

Online sites provide one immense benefit: information. Players can record each hand, study choices, and examine patterns utilizing complex software. Think of how each business choice would come with that kind of specific feedback! This revolutionizes recreational play into severe strategic planning.
Spotting Patterns Where Others See Randomness

Ask any experienced poker player about their most valuable skill, and many will mention pattern recognition. It's not just about the cards; it's about noticing when an opponent bets a certain way or takes an extra second before raising.

"When you're not in a hand, watch how your opponents play," advises one poker guide. "Pay attention to their bet sizing, timing, and any physical or emotional tells they emit. The more you understand their patterns, the easier it is to make good reads."

What makes this skill so powerful is its transferability. Business leaders who can spot patterns in consumer behavior or market trends gain massive advantages. They see opportunities where others see noise.

Poker players learn to:

• Group opponents into strategic categories
• Switch tactics when table dynamics shift
• Profile competitors based on limited information
• Adjust their approach mid-stream when needed

Business professionals who master these same skills often find themselves making better decisions with incomplete information, a universal challenge in today's fast-paced markets.

Thinking in Probabilities, Not Certainties

Most people think in binary terms something will either happen or it won't. Poker demolishes this simplistic thinking. Players must evaluate expected value, assess risk versus reward, and make decisions based on incomplete information.

One experienced player put it this way: "Poker isn't just about the cards you hold, but understanding the range of cards your opponent might have and how your hand performs against that entire range."

This probabilistic thinking proves incredibly valuable in business contexts. Market fluctuations, consumer behavior, and competitive responses are rarely certain. Leaders who can think in probabilities rather than absolutes make more nuanced, effective decisions.

As former AQR Capital Management director Aaron Brown noted, poker rewards those who excel at "aggregating information from others' bids and offers" to gain an advantage, a skill directly applicable to market analysis.

Keeping Your Cool When Stakes Are High

Maybe the most underrated benefit of poker is emotional resilience. The game creates intense pressure, financial stakes, time constraints, and competitive stress. Players who succeed learn to:

• Stay composed after brutal losses
• Make sound decisions despite pressure
• Avoid "tilt"- making bad choices due to frustration
• Separate emotions from decision-making processes

A poker psychology expert explains: "Mastering emotional control is critical. Keeping emotions in check allows for better decisions regardless of whether you're winning or losing."

This emotional control translates directly to professional settings. Executives who maintain clear thinking during crises, negotiations, or high-stakes presentations gain substantial advantages over those who crack under pressure.

Learning From Losses Without Getting Discouraged

Poker brutally punishes entitlement and rewards humility. Even the best players lose regularly, sometimes in spectacular fashion. Those who succeed long-term learn to transform these painful moments into growth opportunities.

"By developing emotional resilience, focusing on process rather than outcomes, and adopting a growth mindset, players build a healthy relationship with the game and thrive regardless of short-term results," explains one poker coach.

This perspective valuing quality decisions over immediate outcomes creates resilient professionals who:

• Focus on controlling what they can control
• Establish feedback systems for objective improvement
• Continuously study and implement new approaches
• View setbacks as valuable learning moments

Taking Poker Skills to the Conference Room

These poker-developed skills don't stay at the table. They travel into board rooms, trading floors, and negotiation sessions.

Financial professionals apply risk assessment skills and emotional discipline directly to market decisions. Negotiators leverage their ability to read opponents and adapt strategies mid-discussion. Leaders draw on their decision-making under pressure when navigating corporate crises.

Even resource management translates perfectly to Poker's bankroll management principles, which mirror business capital allocation decisions.

This practicality explains why some forward-thinking corporations have incorporated poker into leadership training programs. They recognize what serious players have known for years: the game builds strategic muscles applicable far beyond the felt.

Final Thoughts

The poker table creates a laboratory for developing strategic thinking, unlike almost any other environment. It combines mathematics, psychology, and decision science in a competitive pressure cooker.

As more professionals recognize poker's value beyond entertainment, its reputation has evolved from mere gambling to legitimate strategic development. The game creates the perfect training ground for building the mental agility needed in complex professional landscapes.

Whether played professionally or as a weekend hobby, poker offers substantial benefits for those looking to sharpen their strategic capabilities. The lessons learned through tens of thousands of hands often prove invaluable when sitting at the other important tables in life, those in conference rooms, negotiation sessions, and board meetings.

New Delhi [India], May 7: As the gaming industry continues its ascent since its mainstream emergence in the 1980s, captivating advancements in online streaming and Augmented Reality (AR) and Virtual Reality (VR) have emerged as frontrunners. However, the cornerstone remains a seamless user experience.

Source Code Lab, a prominent figure in the gaming industry renowned for innovation and a forward-thinking approach, proudly unveils its latest breakthrough game development solutions.

Leveraging a steadfast commitment to pushing technological boundaries and elevating user experiences, Source Code Lab introduces cutting-edge solutions poised to redefine gaming.

As the industry anticipates unprecedented expansion, this pioneering Custom Game Development Company promises to revolutionize players’ engagement with digital entertainment.

Source Code Lab: Powering the Future of Gaming

Source Code Labs isn’t your average game developer. The firm is a passionate team dedicated to creating innovative gaming experiences that entertain communities and push technological boundaries. 

Here’s a closer look at their expertise:

1. White-Lable Solutions (iGaming & Casual Games):

Source Code Lab is a specialist in fantasy sports and casual games. They know the ins and outs of different game styles. This lets them create solutions that fit exactly what each customer wants.

Their commitment goes beyond just development. They offer comprehensive support throughout the entire process, from the initial brainstorming and concept development stages to seamless integration of your game and ongoing maintenance to ensure its smooth operation.

Source Code Lab leverages cutting-edge technologies to guarantee reliable and seamless game performance. Their skilled designers and developers work hand-in-hand to create stunning visuals, smooth animations, and user-friendly interfaces. This combination ensures your branded rummy game engages and delights users.

Source Code Lab crafts unforgettable gaming experiences combining cutting-edge technology with artistic expertise. They create games that keep your branded rummy game users coming back for more, ensuring the success of your project.

2. Custom iGaming Solutions Development

Source Code Lab is not just about making games – they craft awesome experiences that players love. The team knows a lot about building custom iGaming solutions from scratch, covering all types of games.

Picture this: a sports betting site where you can follow live games, check stats, and place bets in real-time. Or imagine playing classic card games like poker with cool new features and designs. They can even create slot machines with exciting themes and bonuses that keep you engaging for more.

No matter what you’re dreaming of – whether it’s a sports betting site, a casino with card games, or a collection of fun slots – their team can make it happen. The company uses the latest tech and best practices to ensure games look great and work smoothly, even when people play.

From coming up with ideas to testing the finished product, they’re here to help every step of the way. They know all about the iGaming world and ensure everything they build meets the rules. 

3. Custom Games Development (Unity & HTML5):

Experts At Source Code Lab make fun games that you can play yourself or with friends. They use cool technology like Unity and HTML5 to make them. Whether you want a cool adventure or a game where you can compete against others, they can make it happen.

Want to make a game that anyone can play for free? The firm is really good at that. These games can make money through things like special items you can buy in the game or ads that pop up sometimes but don’t get in the way of playing.

Or you want to make a game where people can win real prizes, they can do that too! They’ll turn your idea into a game where people can play against each other and win cool stuff.

Source Code Lab can ensure your game works great everywhere if you want to play on a computer, phone, or the internet. And they’ll be there with you from the start of your idea to when your game is ready for everyone to play. They know a lot about making games, so they’ll make sure yours is fun and follows all the rules too.

4. Tailor-made Gamification & Rewards Program Solutions:

At Source Code Lab, they’re experts at making special programs that reward you for being loyal customers. Instead of just giving you points, they make it fun by turning it into a game. Imagine earning rewards like a champion in a game, with challenges and prizes along the way. This makes you want more fun and feel closer to the brand.

They know every business is different, so they work closely with you to understand what you want to achieve and who your customers are. Then, they make a special rewards program that fits with what you’re already doing. Whether you want people to buy more, stay interested, or do something specific, they can make it happen.

They don’t just make games for fun but to get results. The programs track how well they’re doing, so you can see if they’re working and make changes if needed. This means more money and happier customers for you.

5. Metaverse Games:

Source Code Lab pushes the boundaries of what’s possible in gaming. Their metaverse games utilize the latest technology to offer truly immersive experiences. Every pixel is meticulously crafted to transport players to breathtaking new realities. 

Whether you’re exploring fantastical landscapes, engaging in collaborative quests, or competing in virtual arenas, Source Code Labs’ metaverse games promise an experience unlike any other.

6. Telegram Games:

Gaming shouldn’t be confined to dedicated consoles or powerful PCs. Source Code Lab understands the convenience and popularity of mobile gaming platforms like Telegram. They develop captivating games specifically designed for Telegram, putting fast-paced challenges and interactive adventures at your fingertips. 

With SourceCode Labs, boredom is a thing of the past – there’s always a thrilling adventure waiting to be discovered, no matter where you are or what device you have.

Final Words: 

Source Code Lab is a rising star in the gaming world! The company is known for making awesome games and is always looking for ways to make them better. 

Here’s what they’re good at:

• They don’t just copy old games but come up with new and exciting ways of iGaming.
• They want everyone to enjoy games, and ensure the controls are simple to learn.
• They know games are more fun with friends, to connect players from all over the world.

With this focus on innovation, user experience, and community, SourceCode Lab is leading the pack in the gaming industry. 

Ready to Push the Boundaries of Gaming? Partner with SourceCode Lab. 

https://sourcecodelab.co

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Leading the Charge in Gaming Evolution

As audiences worldwide embrace new AI tools and automation, a wave of distinctive trends has swept into their daily lives. Among these trends, gaming platforms stand out as crucial pillars in maintaining the equilibrium of the skilled global workforce. 

The mobile games market boasts a valuation of $90 billion. At the forefront of this evolution, real money games, also known as Play-to-Earn games or Casino games, have ingeniously carved their path into both professional Play-to-Earn and social gaming genres. 

With a keen focus on delivering immersive gaming experiences and cutting-edge technology, Source Code Lab, a game development company in India, is at the forefront of revolutionizing the gaming industry

How Profitable Are Casual & Real Money Game Development? 

Thriving Market Dynamics: 

Casual and Real Money Game Development operates within a dynamic market valued at an impressive $90 billion. This substantial valuation underscores the sector’s profitability and resilience, positioning it as a cornerstone of the gaming industry’s success.

Diverse Revenue Streams: 

From in-app purchases and advertisements to subscriptions and real money transactions, developers have a wealth of monetization avenues at their disposal. 

This versatility enables developers to tailor their revenue strategies to suit the preferences and behaviors of their target audience, ultimately driving profitability and growth.

Engagement-driven Success: 

Central to the profitability of casual and real money games is their ability to engage players and foster lasting connections. Through compelling gameplay mechanics, social features, and immersive experiences, these games captivate audiences and encourage sustained engagement. 

This high level of player interaction enhances user retention and drives monetization opportunities, contributing to the sector’s profitability.

Global Accessibility: 

The global accessibility of mobile gaming platforms further amplifies the profitability of casual and real-money game development. With millions of players worldwide accessing games on smartphones and tablets, developers have unprecedented reach and potential for revenue generation.

This global audience base presents developers with ample opportunities to maximize profitability and expand their market presence.

Innovation: 

Innovation lies at the heart of the profitability of real-money and casual game development. Developers continually push the boundaries of creativity, introducing new features, themes, and gameplay mechanics to captivate players and differentiate their offerings. 

This relentless pursuit of innovation not only drives player engagement but also positions developers for long-term success and profitability.

Why Source Code Lab For Your Gaming Need?  

At Source Code Lab don’t just make them look amazing, they make them drive your business goals forward. Whether you’re diving into the world of Fantasy Sports App, building an iGaming empire, or creating a high-performance HTML5 game, they have the expertise to make it a reality. 

Here’s what makes us stand out…

Steps 1: Research & Analysis

The journey begins with a dedicated project manager who dives headfirst into understanding your vision. Whether you have a fully fleshed-out concept or a spark of an idea, they’ll work collaboratively to craft a winning strategy. 

Expect a customized roadmap tailored to your needs, maximizing efficiency and ensuring every step aligns with your goals. 

What they cover:

• Game Concept Analysis & Refinement
• Market Research & Competitor Analysis
• Monetization Strategy Development
• Technical Stack Selection
• Detailed Feature Scoping & Prioritization
• Project Timeline & Cost Estimation 

Steps 2: Wireframe & Prototype

Before diving into game development, they bring your vision to life through clear and concise wireframes. These blueprints act as a roadmap, outlining core functionalities, user journeys, and overall game flow. 

This cost-effective approach allows you to visualize your game and make adjustments before any code is written.

What they cover:

• Interactive Clickable Prototype for User Testing
• User Interface (UI) Flow & Navigation
• In-game Transactions & Interactions
• Unlimited Revisions to Ensure Perfect Fit

Step 3: Game Designing

Their game design wizards are masters of crafting irresistible user experiences that look stunning and prioritize user-friendliness. They’ll create eye-catching visuals, seamless animations, and intuitive interfaces that draw players in and keep them engaged.

What they cover:

• Concept Art & Character Design
• Game Environment & World-Building
• UI/UX Design for Optimal User Flow
• Customizable In-Game Assets 

Step 4: Game Development

Now it’s time for the magic to happen! Their skilled game developers translate your vision into a fully functional game, meticulously crafting code that adheres to your exact specifications. 

Agile methodology ensures efficient game development and timely delivery, with their project managers keeping you informed throughout the process.

What they cover:

• Structured Light Weight Coding
• Features & Functionality Development
• Code Optimization

Step 5: Quality Assurance

Before unleashing your game on the world, they put it through rigorous testing across various devices and scenarios. Their meticulous quality assurance (QA) process ensures optimal performance, identifying and eliminating bugs that might hinder the player experience.

What they cover:

• Functional Testing of All Game Mechanics
• Performance Testing for Smooth Gameplay
• Compatibility Testing Across Devices & Platforms
• Security Testing to Mitigate Vulnerabilities 

Step 6: Launch

Your game’s launch is just the beginning! They’ll ensure a seamless transition onto popular app stores and platforms, maximizing discoverability. But their commitment doesn’t end there. 

They offer ongoing maintenance, bug fixes, and 24/7 support to guarantee a top-notch user experience and pave the way for future updates and enhancements. 

What they cover:

• App Store Launch Strategy & Optimization
• Ongoing Bug Fixes & Performance Monitoring
• 24/7 Support for Players & Developers
• Content & Feature Updates to Maintain Player Engagement 

Building Partnerships, Not Just Apps & Games:

Source Code Lab is dedicated to building lasting partnerships with its clients. They understand the importance of clear communication, meticulous planning, exceptional design, and unwavering support. 

With Source Code Lab by your side, you can confidently turn your dream app or game into a reality that achieves your goals. 

Make your dream game a reality – Partner with SourceCode Lab! https://sourcecodelab.co/

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New Delhi (India), January 29: Wolf7Pay, the leading online gaming platform, is pleased to announce cricket legend AB de Villiers has become its official brand ambassador.

The platform offers seven original sites for a diverse range of gaming options. 

Committed to responsible gaming, Wolf7Pay provides users with a secure and enjoyable environment to engage in their favourite gaming activities.

This collaboration is a significant moment for Wolf7Pay, as the platform secures the services of one of the most revered and dynamic cricketers.

AB de Villiers, known as Mr 360 for his skill, innovation, and versatility on the field, will play a crucial role in enhancing the brand’s presence and promoting responsible gaming practices.

De Villiers said: “I am delighted to join hands with Wolf7Pay. They are making waves in the world of online gaming by giving users access to multiple original sites on a single platform. I strongly believe in the importance of responsible gaming, and I look forward to working with Wolf7Pay to create a positive and enjoyable experience for users.”

Wolf7Pay is recognised for its user-friendly interface and commitment to responsible gaming, and regards AB de Villiers as the perfect embodiment of its values.

The platform offers a diverse range of sites for game playing options, including sports and live gaming experiences.

Wolf7Pay top management said: “AB de Villiers is not just a cricket icon but also a symbol of excellence and innovation. He relates with Wolf7Pay’s core idea of handling  so many different formats of the game so efficiently. We are honoured to have him as our brand ambassador. His association with Wolf7Pay will undoubtedly elevate our brand and contribute to the platform’s growth.”

In addition to representing the brand, AB de Villiers will actively engage with the Wolf7Pay community through exclusive events and promotions. This collaboration will create an interactive and enjoyable space for users while emphasising the importance of responsible gaming practices.

The partnership between AB de Villiers and Wolf7Pay will bring a fresh perspective to the online gaming industry, blending cricketing excellence with a commitment to a safe and entertaining environment.

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New Delhi, Jan 17 (IANS) Online gaming major Nazara Technologies on Wednesday said it has raised Rs 250 crore via preferential allotment of equity shares.

The company also announced that it will acquire a 10.7 per cent stake in Kofluence, a leading social media influencer-led marketing-tech platform, from certain existing investors through a share swap.

Nikhil Kamath’s NKSquared & Kamath Associates, ICICI Prudential MF & Plutus Wealth will increase their stake in Nazara through the preferential issue.

The company is proposing to issue up to 28.6 lakh equity shares of face value of Rs 4 each at a price of Rs. 872.15 per equity share, aggregating to Rs 250 crore.

Fresh funds will be utilised to invest in funding requirements and growth objectives of the company, including for making strategic acquisitions and general corporate purposes, said Nazara Tech.

This concludes the planned fundraise of Rs 750 crore that was announced earlier in this fiscal year (FY24).

“With our consolidated cash reserves now exceeding Rs 1,500 crore, Nazara is exceptionally well-positioned to pursue both organic growth and strategic acquisitions,” said Nitish Mittersain, Founder & CEO of Nazara Technologies.

Meanwhile, the company is proposing to issue 3,71,637 equity shares at a price of Rs. 872.15 per unit, aggregating to Rs 32.4 crore by way of preferential issue on private placement basis to the sellers in the Kofluence deal.

Kofluence has more than 600,000 registered creators across Instagram, YouTube, Facebook, LinkedIn, and Twitter representing over 20 languages.

“This partnership is not only expanding Nazara's game reach but also reshaping game marketing dynamics, bringing every creator and user into an expansive and captivating gaming narrative,” said Sreeram Reddy Vanga, Co-founder, and CEO of Kofluence.

Mittersain added that their new game publishing initiative ‘Nazara Publishing’ will particularly benefit from this new initiative.

In an exciting move that melds the realms of entertainment and online gaming, BABU88 proudly announces its sponsorship partnership with the renowned Bangladeshi actress, Apu Biswas. This collaboration is set to create waves in both the entertainment and gaming industries, bringing together the glamour of cinema and the thrill of online gaming.

Apu Biswas, a name synonymous with grace and talent in the Bangladeshi film industry, has captivated audiences with her stellar performances in numerous hit films. Her journey in the entertainment world has been nothing short of remarkable, marked by versatility and a profound ability to bring characters to life on the silver screen. Apu’s work has earned her a special place in the hearts of fans, making her a beloved figure not only in Bangladesh and India, but also in the broader South Asian region.

Sachin Mehta, the spokesperson for BABU88, expressed his enthusiasm about the partnership, stating, “We are thrilled to welcome Apu Biswas to the BABU88 family. Her charisma and popularity make her an ideal representative for our brand. This collaboration aligns seamlessly with our commitment to providing top-notch entertainment experiences to our users.”

A Glimpse into Apu Biswas’s Remarkable Career:

Apu Biswas made her debut in the film industry with the critically acclaimed movie “Kal Shokale.” Since then, she has continued to impress both audiences and critics with her impeccable acting skills. Some of her notable works include “Pitar Ashon,” “My Name Is Khan,” and “Number One Shakib Khan.” Apu’s ability to effortlessly switch between genres has established her as one of the most versatile actresses in the South Asian film landscape.

The Future of Entertainment

As BABU88 and Apu Biswas’s partnership ushers in the New Year, the collaboration promises exciting developments for both entertainment and gaming enthusiasts for 2024. With Bangladesh Premier League just around the corner, users can expect exclusive promotions, engaging content, and unique opportunities to interact with the beloved actress through special events hosted on the platform.

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New Delhi, Nov 2 (IANS) The Indian gaming market is likely to hit the $7.5 billion valuation mark by FY28 - a 20 per cent CAGR growth - driven by increasing in-app purchases and advertising revenues in casual and mid-core games, a new report said on Thursday.

The Indian gaming industry clocked $3.1 billion in FY23 revenue.

Demand for games in India was robust with 15.4 billion gaming downloads in FY23, marking India as one of the largest gaming markets in the world, according to the 'State of India Gaming' report by gaming and interactive media fund Lumikai, in collaboration with Google.

There are over 568 million gamers in the country – over 50 per cent of all Indian internet users.

"Indian gaming has been on the rise because of rapid digitisation, growth in new gamers and new paid gamers, and increasing diversity of gaming content consumed. Even though funding has slowed down this year, the outlook towards the gaming industry is extremely positive," said Salone Sehgal, Founding General Partner.

The data also sheds light on India's global position as one of the leading countries globally for total mobile game downloads. Over 50 per cent of all Indian internet users account for the gaming population in the country. This number grew by 12 per cent in FY23, according to the report.

The data also highlighted how the average time spent on gaming increased by 20 per cent, to 10-12 hours per gamer per week.

About 59 per cent of gamers are male and 41 per cent female, with 66 per cent coming from non-metros. Over 58 per cent of users said they partake in in-app purchases, with 62 per cent of users claiming that UPI is their preferred mode of payment for games, the report mentioned.

New Delhi, Oct 30 (IANS) Online gaming major Nazara Technologies on Monday announced its new game publishing division that will launch high-quality games for the Indian and global markets.

The company will invest a minimum of Rs 1 crore per game and aims to launch up to 20 games over the next 18 months as part of its “Nazara Publishing” vertical.

It introduced a dedicated website for game developers interested in partnering with Nazara to publish games across platforms including mobile, web3, VR and PC.

Nazara said it will also provide developers with support on game design, localisation, data analytics capabilities, beta testing and quality assurance, enhanced monetisation and strong distribution through smart user acquisition spends and platform partnerships. 

“With a special focus on supporting Indian developers, Nazara sees a significant opportunity in the Make-in-India initiative and as part of this initiative, we will also promote Indian game developers globally,” said Nitish Mittersain, CEO and Joint MD, Nazara Technologies.

As part of the Nazara Publishing platform, developers will also have access to mentors in the form of industry leaders and experts. 

In e-sports, Nazara has India's leading esports platform Nodwin, PublishME in the Turkey/MENA market, and Sportskeeda and Pro Football Network in the sports media space. 

In September, Nazara Tech’s board approved an issue of equity shares with face value of Rs 4 each to raise up to Rs 410 crore from SBI Mutual Fund.

Earlier this month, Nodwin Gaming’s Singapore arm acquired a 100 per cent stake in game marketing agency PublishME for $2 million from its existing shareholders Nazara Technologies and Ozgur Ozalp.

New Delhi, Oct 19 (IANS) While the ICC Men's Cricket World Cup is underway, Think Change Forum (TCF), an independent think tank dedicated to innovative ideas, has released a report titled "State of the betting & gambling industry in India" that has lauded the Indian government for swift action to regulate online betting in the country.

The report lauds the government for introducing a progressive regulatory framework by proposing to amend the IT rules to regulate online gaming and setting up of self-regulating bodies called SRO’s.

However, unless these measures are rolled out rapidly, the new GST regime will divert growth from legal gaming to illegal betting and offshore players.

 As per the report, the offshore sports betting market receives an estimated Rs 8.2 lakh crore (USD 100 billion) per annum in deposits from India and has been clocking a rapid growth of 20 per cent per annum in the last three years post the pandemic. Factors such as digital infrastructure growth, smartphone usage, and the expansion of athletic events have contributed to this growth. In India, despite regulatory restrictions, country's betting and gambling market has shown remarkable growth.

According to the report at a baseline estimated deposits of Rs 8,20,000 crore (USD 100 billion), being received from India, at current GST rate of 28 per cent, India is losing a GST collection of Rs 2,29,600 crore, per annum. In addition is TDS on player earnings which are estimated to be 90 per cent of post GST deposits. This works out to another Rs 1,59,408 crore in taxes, making the total tax loss stand at Rs 3,89,008 crore. This still does not include tax loss from corporate taxes and taxes on foreign entities. To arrest this loss, the report recommends strict implementation of the new GST regime by establishing a task force to monitor illegal offshore betting activities and forcing offshore operators to register in India to protect the outflow from legal gaming platforms to offshore platforms. Without such stringent measures, the new regime could lead to the diversion of growth from legal gaming companies to illegal betting platforms and offshore operators, resulting in substantial tax losses for the government.

The report further suggests that if the government was to opt for active enforcement and a moderate taxation policy, retaining GST at 18 per cent and that too only on platform fees as earlier, it is possible to divert 50 per cent of deposits from offshore and illegal gambling to legal gaming. This will net in new tax collections of Rs 1,18,080 crore per annum for the government. Over the next 3 years, at a compounded annual growth of 20 per cent, this will swell to tax collections of Rs 2,04,042 crore by 2026.

While there are numerous market research reports that delve into the global betting and gambling market, this is the first report to venture into estimating the actual size and potential growth of the betting and gambling market in India.

The report has meticulously utilised publicly available data to extrapolate the most likely scenarios for the expansion of illegal betting and gambling activities in the years to come in India.

The primary goal of this report is to fill the information gap of a missing estimate for the offshore illegal betting and gambling industry in India and in doing so, seek regulatory solutions for the issue.

The global sports betting market covers various sports categories, with football leading the way due to its immense popularity.

Basketball accounts for the second most betted sport in the world while other popular sports that people bet on include baseball, horse racing and hockey.

In India, cricket dominates, with the Indian Premier League (IPL) being a significant driver of betting activity.

As per estimates, more than 140 million people in India participate in betting and gambling regularly and this number shoots up to 370 million during the IPL.

The report estimates that USD 200 million is being wagered on each Indian cricket one-day international match.

Globally too, cricket as a segment is growing rapidly, largely because of the expansion of the betting market from India.

 T. Ranganath, Secretary General, Think Change Forum while talking about the report said, “Indian online gaming sector is at a critical juncture. While there is clear intent from the government to develop this nascent sector, recent tax compulsions are poised to divert the momentum towards illegal betting and gambling activities led by offshore players, which can spell disaster for the Indian economy. Moreover, the tax losses to the government are huge and this is only going to grow further given the manner the illegal market is expanding. Timely and appropriate action must be taken up by the government to tackle this issue before it escalates further.”

The report highlights that a ban on betting and gambling transactions under India's exchange control regulations, drives offshore gambling firms to employ covert methods for moving money both within and outside the country. Funds are funnelled through mechanisms like hawala, cryptocurrencies, and other illicit channels, posing a threat to the nation's financial stability. These diverted funds may fund illegal activities, undermining public order and national security.

There are more than 75 betting and gambling sites that specifically target the Indian population, many of which persist in their operations despite legal bans.

To further attract Indian users, they have secured the endorsement of popular Bollywood actors and sports figures as their brand ambassadors, including Ranbir Kapoor, Kiara Advani, Sanjay Dutt, Mithali Raj, Saina Nehwal, Varun Dhawan, Dinesh Karthik, Tamannaah Bhatia, and Nawazuddin, among others.

These prominent role models have been appointed as brand ambassadors by platforms like Fairplay, Parimatch, Lotus365 and Mahadev.

The impending exponential growth of India's illegal offshore betting industry is closely linked to the recent GST notification.

Here legal online gaming is now burdened with a substantial 28 per cent tax. Furthermore, the newly introduced 30 per cent Tax Deducted at Source (TDS) rate on winnings brings the total tax on legitimate online gaming to a staggering 58 per cent, thus incentivising a shift to illegal alternatives free from such taxation.

Encouraged by the new GST regime, illegal platforms have launched unrestrained promotional campaigns, boldly claiming that their offerings are exempt from GST and other taxes. This enticing proposition suggests that users can claim their entire winnings. As a result, high decibel advertising campaigns by offshore betting platforms can be seen during the ongoing ICC Men’s Cricket World Cup.

In terms of job losses within the legitimate Indian online gaming industry, the report estimates that roughly 60,000 jobs could be at risk. This situation would deprive the industry of the potential to create around 20,000 skilled jobs.

To proactively address concerns related to offshore operators, safeguard the interests of citizens, and protect the Indian financial system, the report presents the following recommendations for the government --

A comprehensive and meticulous assessment of the trade-offs between regulatory measures, taxation policies and potential revenue losses is imperative.

Implement a fool-proof implementation of the new GST regime, by establishing a task force to monitor illegal offshore betting activities and forcing offshore operators to register in India to protect the outflow from legal gaming platforms to offshore platforms.

Stricter surveillance of communication campaigns by gaming and gambling platforms, and exercising controls on Indian entities involved in running the promotional campaigns.

Launch a public awareness campaign to educate citizens about the risks associated with illegal offshore betting and gambling.

Delay in forming of SRO’s will allow illegal offshore betting sites to mushroom, as without these regulators will have no authoritative instrument to classify legal and illegal operators.

New Delhi, July 15 (IANS) Around 127 online gaming companies and organisations have written an open letter to the government, urging it to reverse the 28 per cent GST on the full deposit value and segregate skill gaming from betting and gambling which has left the industry in significant distress.

The letter, which has participants like Baazi Games, Dangal Games, Gameskraft Technologies, Nazara Technologies and WinZO Games Private
Limited, said this move would potentially have devastating implications (including shut down of businesses) for MSMEs and startups that may not
have the capital reserves to withstand such a sharp tax increase.

“Further, this decision will encourage illegal offshore gambling operators, drive Indian users to them and ultimately lead to neither optimal tax
collection nor the growth of the legitimate industry,” the letter read.

Online skill gaming, with a $20 billion enterprise valuation, $2.5 billion in revenue, and $1 billion in annual taxes, is set to grow by 30 per cent
CAGR to reach $5 billion in revenue by 2025.

The total number of Indian online gamers grew from 360 million in 2020 to over 420 million in 2023.

India’s gaming industry attracted FDI of about $500 million between 2014 and 2020, and over $1.5 billion between January 2021 - June 2022.

“The industry currently supports lakhs of direct and indirect jobs, and these numbers will grow substantially in the next few years,” said the
letter.

The Goods and Services Tax (GST) Council this week announced that bets placed in online gaming, horse racing, and casinos will now levy a 28 per
cent tax at full value.

According to Finance Minister Nirmala Sitharaman, the decision was not aimed at killing the industry but was made considering the “moral question”
that it cannot be taxed at par with essential commodities.

According to the industry stakeholders, the recommendation of the GST council to levy GST on the full deposit poses a significant threat to the
industry’s success, gaming innovation and continuity.

The letter mentioned eight core points that underscore the adverse impact of such taxation like hampering the Digital India Initiative; implications for
startups and MSMEs; impact on jobs and livelihoods; impact on consumer affordability; offshore gambling sites to be the unintended beneficiaries;
stifling foreign investment and global competitiveness; losing opportunity to become a global gaming leader and impact on exports and long-term net
revenue loss for the exchequer.

“For the sector to survive, this tax should be levied on the platform fee/gross gaming revenue that is earned by the industry. This is similar to
any other technology service platform, where only the revenue that platforms earn are considered for the purpose of levy of GST,” according to
the letter.

New Delhi, June 27 (IANS) Google-owned YouTube is reportedly working on bringing online gaming on its platform that is likely to be called 'Playables', at a time when streaming giant Netflix also enters the world of gaming.

The video-sharing platform is testing an online game offering that could give users the ability to play games via the YouTube website on desktop or the YouTube app via iOS and Android devices, reports The Wall Street Journal.

“YouTube is internally testing a product for playing online games, according to an email sent to employees at parent company Google,” the report said. It signals Google’s ambitions to move beyond video hosting into games that can easily be played and shared between users, it added.

YouTube, which has billions of monthly users, is already a popular destination for gamers. The new gaming offering would feature arcade-style games like Stack Bounce, where players use a bouncing ball to smash through layers of bricks.

A company spokesperson said that gaming has long been a focus at YouTube. “We’re always experimenting with new features but have nothing to announce right now,” the spokesperson added.

The gaming experiment on YouTube comes as Google shut down its Cloud gaming service called Stadia early this year, after it failed to gain traction with users.