Interactive
SBC DIGITAL INDIA GRID LOGIC GROUP
Grid Logic Group: Te Best Exotic Investment Market
At SBC Digital India 2021, Pariekshit Maadishetti, Managing Director at Grid Logic Group and Founder of Taj Rummy, urged companies considering tapping into India’s vast market potential to do so quickly, legally and with goodwill to those already operating in the market
“Tis is the right time to be in business in India’s gaming market as Indian consumers appreciate recognisable and trusted brands more than anything else. I would even argue the brand is more important to Indian’s than the offering itself.
Pariekshit Maadishetti, Managing Director at Grid Logic Group and Founder of Taj Rummy
International operators are increasingly looking to invest in India’s gaming market, and with good reason. Te online gaming industry is expected to grow at a compound annual growth rate of 40 per cent to $2.8bn by 2022, up from $1.1bn in 2019, according to a Deloitte India report released in January. Te mass use of smartphones, affordable data and increasing disposable income is expected to strengthen the sector’s share of total media and entertainment industry by four to five per cent.
“India’s gaming market guarantees mass volumes, but the average revenue per user is significantly lower than in Western nations,” explains Pariekshit. “However, the size of India’s population covers the revenue differential per customer. India’s evolving class demographics and lifestyle will lead to a change in spending and mindset that is going to bring in more revenue.
P80 NEWSWIRE / INTERACTIVE / MARKET DATA
“I have operated in the US for four years and the UK for five years prior to joining the Indian market eight years ago. Tey are absolutely nothing alike. You cannot entice Indian customers with a bonus offer. Building a brand now will pay off a decade down the line. It is certainly going to prove a priceless outcome for companies already operating and building trust in the market.”
THE LEGAL LANDSCAPE
India’s gambling law is governed by the Public Gambling Act of 1867, which prohibits public gambling. However, the gambling statutes of different states use interchangeable terms. Te Public Gambling Act 1867 makes it an offence to operate or be found in a ‘common gaming house’; the Assam Game and Betting Act 1970 penalises a ‘betting’ activity; while the Orissa Prevention of Gambling Act 1955 uses ‘gambling’ and ‘gaming’ to mean the same thing.
Constitutionally, only state governments can make laws on betting and gambling. Generally, the dominance of skill over chance decides whether it is a game of skill or not, with skill games excluded from most gambling laws. Tere
“India’s evolving class
demographics and lifestyle will lead to a change in spending and mindset that is going to bring in more revenue.
This is the right time to be in business in India’s gaming
market as Indian consumers appreciate recognisable and trusted brands more than
anything else. I would even argue the brand is more
important to Indian’s than the offering itself.”
are only five states that do not allow skill games: Assam, Odisha, Telangana, Andhra Pradesh and Tamil Nadu.
A handful of international operators are operating in the game of chance market according to a letter written by the Chief Minister of Andhra Pradesh to Te Ministry of Electronics and Information Technology (MeitY), submitting a list of 132 websites and apps which the state believes are involved in offering services like gaming, betting and gambling online.
THE KEY TO LONG-TERM SUCCESS
Pariekshit advises international brands to use their communication capabilities to operate in the Indian market legitimately with regulated payment gateways and games.
“If international operators want to have long- term success in India it is through games of skill. As a case in point, Taj Network (a B2B white
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