Gutshot March 2023

Managing Editor

Sameer Rattonsey

Editor-In-Chief

Peter Abraham

Content

Mrinal Gujare

Amarylisa Gonsalves

Design

Maheswar Gauda

Sales & Advertising

Raunaq Pinto (raunaq@thegutshot.com)

Marketing Head

Dwayne Fernandes (dwayne@gutshotmagazine.com)

Business Head

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www.gutshotmagazine.com EDITOR'S NOTE

Editor’s Note

The Indian online real money gaming industry has seen significant growth in recent years, driven by factors such as the increasing penetration of smartphones, the availability of high-speed internet, and the rise of digital payment systems. The industry is expected to reach a market size of $5 Billion by 2025, according to a report by KPMG.

One of the key segments driving the growth of the industry is online poker, which has gained popularity among a large number of young, tech-savvy Indians. The game is seen as a skillbased activity that offers players the chance to win real money, making it an attractive option for those looking to earn some extra income. Another segment that is expected to grow rapidly is fantasy sports, which allows users to create virtual teams with real players and earn points based on their performance in actual matches. This segment has seen significant growth in India, with popular gaming platforms gaining millions of users.

However, the industry has faced regulatory challenges, with some state governments imposing restrictions on online real money gaming activities. Despite this, the industry has continued to grow, with players adapting to changing regulations and finding ways to operate within the legal framework. Events like SPiCE India are becoming more important as a gathering point for industry stakeholders to discuss the challenges and way ahead of the Indian gaming industry.

Overall, despite the challenges, the Indian online real money gaming industry is expected to continue on its upward trajectory further driven by the rise of new gaming segments such as esports. As long as the industry can navigate regulatory challenges, it is poised for a bright future.

PETER ABRAHAM Editor-In-Chief

Star Power In Online Gaming

Muskan Sethi’s Biopic In Works

Many Bollywood stars have become brand ambassadors of online gaming brands.

Ajay Devgn is on board with Junglee Rummy, Salman Khan is the face of multi-gaming platform Zupee. Rashmika Mandanna joined hands with multi-gaming platform PlayerzPot to promote their casual games vertical. This company also has Bhuvneshwar Kumar and Smriti Mandhana as their brand ambassadors.

Indian cricketer Deepak Chahar turned entrepreneur and also brand ambassador for Trade Fantasy Game which he cofounded with his wife Jaya Chahar. South star Vijay Deverakonda featured in a brand campaign for A23 Rummy which also featured Rakul Preet Singh which further highlights the trend of online gaming getting more star power. Bollywood diva, Esha Gupta joined hands with Khelraja and had featured in their latest campaign which promotes the idea of #TheGameNeverStops.

Juggernaut Productions announced in February 2023 that they will be making a biopic based on the life of PokerBaazi Team Pro Muskan Sethi. It is not revealed who will play Muskan in her biopic but it's a first of its kind and a big deal for the Indian poker industry.

Dream11 Is Official Fantasy League Partner For WPL

Fantasy sports giant Dream11 will be the official fantasy league partner for the maiden edition of Women’s Premier League (WPL). The fantasy gaming giant will be associated with the league from 2023 to 2025, adding yet another feather to its cap.

Meghalaya To Have First Ever Centre Of Excellence For Online Gaming

Meghalaya state announced that by March 2023 it will have India’s first centre of excellence for online gaming in Shillong as the state government wants to encourage more startups and entrepreneurs from the Northeastern state.

Union Budget 2023: Online Gaming Industry Was All Ears

Ex-Nazara CEO Launches New Web3 Gaming Venture

The online gaming operators and experts finally had some clarity when the Union Budget 2023 announced provisions for the online gaming industry.

Key highlights:

• Removal of the minimum threshold of ₹ 10,000 for TDS (Tax Deducted at Source)

• Real money gaming platforms to assess TDS at end of the year or on net winnings

• 18% tax applicable on commission collected by online gaming operators

• Threshold unchanged for crossword puzzle games, lottery and other such games

FanCode Partners With Google Cloud For Enhanced Streaming

The former CEO of Nazara Technologies, Manish Agarwal launched a Web3 gaming startup called Kratos Studios with early-stage investor Ishank Gupta. The startup raised ₹ 160 Crore ($20 Million) in seed funding and is currently valued at ₹ 1,200 Crore. Nitish Mittersain is back as CEO after serving on the same post from 2000 to 2015.

Goa State Govt. Green Signals Delta Corp’s Integrated Resort

FanCode, which comes from Dream11’s hood, announced its collaboration with Google Cloud to advance into a new era of streaming and fan engagement in South Asia. In a bid to drive fan engagement based on data, this partnership sees FanCode further enhance the distribution of sports content that is mainstream.

Delta Corp received a nod from the Goa state government to establish an integrated resort at Pernem in North Goa. This is set to change the landscape of casino gaming in the state of Goa, and may finally initiate the move from offshore to onshore.

Welcome To SPiCE India 2023!

We are at the 2023 edition of the SPiCE India (Strategic Platform for iGaming Conference and Exhibition), being hosted at the Goa Marriott Resort & Spa from 1st to 3rd March. The latest edition of the much-awaited SPiCE India event comes after a very successful annual edition in 2022 which had professionals, experts, operators and renowned personalities from the real money gaming industry, including legal, casino, iGaming, organisers among others in attendance. Just like last year, SPiCE India 2023 has Gutshot Magazine as one its media partners. With our special edition magazine, you can get a glimpse into what lies ahead and gain some insights too.

SPiCE India 2023

12:30 13:30 14:00 14:45 15:30

Registration and lunch

Opening remarks from the chairperson

Panel discussion

What are the most popular and effective affiliate marketing channels in India?

Panel discussion

What is the best way to monetize your website traffic and generate extra revenue?

Networking and coffee break

DAY 1 1ST MARCH

WEDNESDAY 16:00 16:30 17:15 17:30

Presentation

Top rated marketing strategies for online gaming in india

Panel discussion

What methods are being used to attract new users to online gaming platforms?

Closing remarks from chairperson

SP“ICE” Breaker Pre-Event Party

GAMING

DAY 2

2ND MARCH THURSDAY

Registration and morning coffee

Welcome address

Panel discussion

Striking a balance between compliance and customer experience in the face of restrictive regulation

Panel discussion

The threats posed by illegal gaming to our industry and how we can counter them

Networking coffee break

Presentation

International lottery technology provider - Kootac

Panel discussion

13:45 14:45

Panel discussion

How has the gaming market in India changed? What are the developments to look out for?

15:30

Panel discussion

How can we continue to sustain and grow this industry in the midst of updated gaming laws in India?

Panel discussion

What are the most popular gaming activities in India and how to tap into the market?

Closing remarks from chairperson

Registration and morning coffee

Opening remarks from the chairperson

Presentation

Will the new 28% Indian tax affect the best online casinos?

Presentation

Updates on GST related issues concerning the gaming industry

Presentation

How AI can prevent problem gambling and assist the industry

Networking coffee break

Panel discussion

Innovation and the future of online gaming in Asia? What will be the next big trend that can be taken advantage of in our industry?

Panel discussion

What do punters talk about and find ways to improve content and user experience

DAY 3

3RD MARCH FRIDAY

Networking lunch break

Panel discussion

What opportunities do individuals and companies have to develop apps and games in India after recent billing removals from top app stores?

Panel discussion

India is set to clock 100 million 5G users in 2023. How to take advantage of the opportunities this brings.

Panel discussion

Acceptance of global benchmarks for India iGaming payments

Closing remarks from the chairperson

Networking drinks

SPiCE India Eventus Awards and SPiCE

After Party

Promotional Insurance By Alliance Insurance Brokers

Has anyone ever thought about the fact that gaming organisations give away lakhs in bonuses/cashback/ rewards each week? And how practical is it to offer an expensive vehicle as a prize or create campaigns worth way more than the actual gaming experience offered? These risk-taking prize money can be insured by Alliance Insurance Brokers! Alliance Insurance Brokers can leverage prize money or a welcome bonus or any other reward scheme irrespective of the budget size. Thanks to our inventive usage of promotional insurance which can cover VIP/VVIP programmes, loyalty programmes, and cashback/coupon schemes.

For example, if your organisation offers signup bonuses to attract people to join and those deals trigger reclamation of rewards beyond your original budget for promotion then the additional amount spent on the further people will be given back to you by the insurers.

This insurance can be extremely beneficial as it not just eliminates the risk but also critiques the offer in a manner that can later help in strategising a better promotional plan for the organisation.

The concept of promotional insurance suggests that the risk must be identified before it can be assessed. This takes a variety of aspects into account. For instance, where does the sales promotion get its information?

Use of various mechanics, including instant wins, cashback, free prizes, drawings, and discounts.

Further, elements like market share, popularity, current product, new product, re-launch, accessibility, product kind, audience type, prize amount, length of the campaign, and redemption period in comparison to the frequency of purchases also matter.

Promotional insurers will then examine the situation and provide a solution to the firm. And this entire process can smoothly be facilitated by Alliance Insurance Brokers.

SPiCE India 2023 Speakers And Key Personalities

Eventus International is here with one of India's most anticipated and celebrated gaming conferences, SPiCE India, for its fourth edition. The event lays emphasis on major talking points in the online gaming industry, including the current shape of the Indian government with respect to regulations. At this event, attendees get exposure to insightful information and different perspectives across a wide range of topics,

apart from networking with Indian as well as foreign delegates attending the event.

With prominent names in attendance, SPiCE India 2023 is all set to offer a plethora of experiences apart from opening new avenues of business for all. Here are some of the speakers and organisers telling us what to expect from the latest edition of the SPiCE India.

SPiCE is a good congregation of subject matter experts, vendors, affiliates, operators and influencers in the Indian gaming ecosystem. It's a good event to network and learn.

At SPiCE India 2023, I am looking forward to fostering collaboration, innovation, and knowledge-sharing within the gaming industry, and be part of a platform for stakeholders to network and explore new business opportunities.

Jaydeep Chakravartty,

Our association with SPiCE has come a long way and we enjoy being a title sponsor. Overall we like the format of the conference and the quality of the panelists is great! We strongly recommend everyone to attend the event.

Pariekshit Maadishetti, Founder, Taj Rummy

Satya Mahapatra, iGaming Consultant, ROI Internet Marketing

iGaming Consultant India

SPiCE India is a special event on our calendar. India is one of the most promising gaming markets. It has major importance for EvenBet Gaming. And yet, there are not many opportunities for the industry in India to get together, discuss issues and trends, and share ideas. At the same time, the legal base and the trends in online gaming in India are changing rapidly, and it's crucial to keep up with this pace. Eventus International is doing outstanding work as one of the pioneers in organising gaming events.

Dmitry Starostenkov, CEO, EvenBet Gaming

SPiCE stands out among other gaming events due to the participation of international gaming professionals and companies, who bring in a global perspective. SPiCE has positioned itself in global markets and has enough traction for worldwide reach. At a single place meeting, global gaming companies along with local players give participants a unique advantage of knowledge transfer. I would like to talk about what best global best practices that can be applied to this industry. What steps need to be taken to ensure the industry grows in a sustained manner without breaking the moral ethos of Indian culture.

This year, regulation, compliance, and responsible gaming are key discussion points; therefore, the agenda covers these topics in depth. There will also be a focus on the future of iGaming in India at the event. This means that along with talking about current developments, our speakers will predict trends in the industry for the coming years.

Tamika du Plessis, Digital Marketing Coordinator, Eventus International

Anutosh Chatterjee, Gaming Consultant

SPiCE India Eventus Awards 2023 Celebrates Excellence!

The 2023 edition of SPiCE India once again brings experts, professionals, operators, consultants and enthusiasts from the online skill gaming, iGaming, casino, legal, and related industries under one roof. Apart from the crucial panel discussions, networking and presentations on key industry topics, SPiCE India 2023 also presents awards across categories to felicitate and recognise the contribution made by the nominees and eventual winners of these coveted awards.

Just like last year, the fourth edition of the much awaited event will announce winners across multiple categories like Poker Operator of the Year, Fantasy Gaming Operator of the Year, Technology Provider of the Year, Affiliate Platform of the Year, and others.

The SPiCE India Eventus Awards ceremony is scheduled to take place on 3rd March, which is a brilliant way to wrap up proceedings at the Goa Marriott Resort & Spa. Amid all the insightful conversations and discussions about online skill-based games and the iGaming industry as a whole, the SPiCE India

Eventus Awards celebrates the excellence showcased by industry stakeholders (online gaming brands, developers, affiliates platforms, platform providers among others) in their respective fields which has contributed to growth of the industry. Let us take a look at the SPiCE India Eventus Awards 2023 categories and the shortlisted nominees.

Skill Gaming Operator of the Year (NonFantasy)

● Paytm First Games

● PokerBaazi

● Taj Rummy

Poker Operator of the Year

● Paytm First Games

● PokerBaazi

● Spartan Poker

Fantasy Gaming Operator of the Year

● Paytm First Games

● Dream11

● MyTeam11

Technology Provider of the Year

● BetConstruct

GAMING

● SA Gaming

● Vinfotech

Affiliate Platform of the Year

● Aviatrix

● vCommission Media

● LGaming

Emerging Startup of the Year

● BlueChip

● Rooter

● Aviatrix Developer of the Year

● SA Gaming

● SimplePlay

● Endorphina

Best Legal Advisor of the Year (The judging metrics for this category is the outstanding contributions towards quality of legal, and structuring advice, contributions in research and policymaking and mergers and acquisition deals or transactions)

Best Platform Provider of the Year

● Big Gaming

● NUXGAME

● Endorphina

Best B2B Digital Platform

● Bazoom

● SimplePlay

● SA Gaming

Innovative E-sports Product of the Year

● Digital ShoutOuts Media

● Rooter

● Skyesports

SPiCE Speaker of the Year

● To be announced at the event (This category awards a speaker who best engages with the audience and brilliantly conveys a message)

Well, the above are the shortlisted nominees for the SPiCE India Eventus Awards 2023 which have presented themselves as the top contenders for the coveted awards. The winners will not only gain recognition in the industry but will also set an example for the newer entrants in the rapidly-growing arena of iGaming.

Quadnet: Building An Unmatched Poker Ecosystem

Online poker has never been at an all-time high as it is currently in India. The game of skill has been growing with every passing day. To cater to the user’s increasing needs and demands, the number of online poker platforms in the country is also witnessing a considerable spike.

But how do you handle the competition as a fledgling brand in the industry? The answer is poker networks where you can take advantage of player liquidity from fellow poker websites. One of the leading poker networks in the country right now is the Quadnet Poker Network.

Why should you join Quadnet?

Games Poker and Calling Station. These poker sites are among some of the leading ones in the industry.

If you have been following India's real-money gaming space, you must have heard of India Online Poker Championship (IOPC) and Final Table Series (FTS). Yes, both these series are hosted on Quadnet.

About Quadnet Poker Network:

A pioneer in its space, Quadnet was founded as a Business to Customer (B2C) model in 2015 by. The network, co-founded by Amin Rozani and Sameer Rattonsey had Spartan Poker as its first poker site on board. Over time it started providing white-labelling options for online poker operators along with customised user

Brands onboard the Quadnet Poker Network What started with just a single poker operator, Quadnet currently houses seven online poker platforms -- Spartan Poker, BLITZPOKER, PokerHigh, PokerDaddy, MyTeamPoker, AIO

interfaces and experiences depending on the requirements of each of these brands. This enables hosting a range of poker sites on the network while preserving their own respective identities or branding.

Online Skill Gaming: What Are The Top Leaders Saying?

When it comes to expert talk, we are all ears! Gutshot Magazine did something similar when it came to getting critical insights from top leaders in online skill-based gaming. We all wish to know what head honchos of leading corporations think, how they decide and how they prepare for upcoming changes and future trends that come along. For its SPiCE India 2023 edition, Gutshot Magazine decided to combine some wise thoughts shared by leaders of some of the top online skillbased gaming brands.

Gameskraft

While drawing light towards the pandemic infused growth in the online gaming industry, Kushwaha further credits ‘growing internet penetration, rising smartphone adoption, an increasingly improved selection of mobilefirst games, and the burgeoning popularity of gaming influencers,’ proving to be the

catalyst of growth in the online gaming space. Further he also quotes Lumikai’s annual State of India Gaming Report FY 2021-2022 to highlight some key points. He adds, “India is home to 507 Million gamers with a rising share of people eager to pay to play. Gameskraft’s Head of Brand Strategy also states, “In-game advertising fueled India’s game creators initially. But today, a significant share of the revenue generated by mobile gaming comes from in-app purchases and real-money game (RMG) spends.”

Amit Kushwaha, Head of Brand Strategy, Gameskraft

While talking about safety and trust in the real money gaming vertical, Kushwaha says, “Trust is one of the most important foundations in this space and is hugely dependent on the safety offered by gaming platforms. As RMG is involved with monetary transactions, it is essential for companies to ensure that they have the adequate

technological prowess to maintain the utmost checks and balances in keeping user information secure.”

“Platforms in the industry are also working towards winning, as well as maintaining the trust of several of its stakeholders starting with the players and other external stakeholders.”

On the way forward in the online gaming industry, Kushwaha says, “The trends observed in 2022 will continue to grow stronger and gaming companies will strive towards providing better user experiences. This is going to be the biggest focus area of work for the industry, followed by pushing boundaries on trust and other features. Technological upgradation will assure safety and entertainment as well. Currently, the growing gaming audience in India represents a multitude of ages, genders, and geographical regions. The market’s exponential growth has great potential to continue its upward trajectory. In conclusion, the gaming sector is the one to watch out for in 2023.”

PlayerzPot

One of the widely popular multigaming platforms, PlayerzPot made headlines with its offerings and brand ambassador. We got in touch with Jayendra More, AVP Product, PlayerzPot to understand the trends to watch out for in 2023. More says, “The fantasy sports industry has become more than just a socially enjoyable platform and according to the FIFS-Deloitte report, it is predicted to be valued at ₹1.65 Trillion in India alone by FY2025 with a CAGR of 38%.”

“As the long-awaited 5G network rolls out, it has the potential to disrupt a number of sectors, including cloud gaming

and gamers can anticipate faster speed, lower latency, and better connection stability. Its future is more promising with the ever-evolving development of cutting-edge technology, merchandising, and fast-paced content generation patterns that, unlike other online gaming, are more personalised.”

It is not possible to skip mentioning cloud gaming and the PlayerzPot Product boss sheds more light on this matter. He adds, “A telltale sign of continued growth comes from the widespread adoption of cloud gaming among users. Essentially cloud gaming allows creators and gamers to play hardware and software-heavy games without having to install them on any device. Like a streaming platform, it saves the data in remote servers and streams video directly to the device. India is witnessing a spirited acceleration of cloud gaming among players as it is more accessible and device agnostic.”

When it comes to India, fantasy games are dominated by cricket, but there is more to it than this highly revered game. More says, “In a country where cricket continues to dominate sports viewing choices, women’s cricket has gained immense popularity with the emergence of fantasy sports. Sports such as football, kabaddi, basketball, volleyball, hockey, and even kho kho have garnered a loyal audience in the world of fantasy sports. Additionally, rather than seeking brand-new experiences, a new generation of gamers prefers their old favourite games updated and repackaged into visually appealing formats that are technologically suave. This has given way to a large number of reboots and remakes that will continue to flourish in 2023.”

Jayendra More, AVP Product, PlayerzPot

Next we have esports, where leagues are ruling the competition space. It is not surprising to esports brands hosting leagues to engage and attract more gamers into the fold. In this regard, More says, “Mimicking traditional sports leagues, esports platforms are hosting live gameplay that allows them to expand their consumer base. The exposure to such events is restructuring the sports appetite and viewership from fans across the country. With ample choices in hand, every fan gets to create at least two fantasy teams every day across apps that translate to roughly 1,000 matches in 365 days.”

“Across the globe, there are multiple leagues being created such as Indian Premier League (IPL), Pakistan Super League (PSL), Big Bash League (BBL), National Basketball Association (NBA), Pro Volleyball League (PVL), International Hockey Federation (FIH), Pro Kabaddi League (PKL), International League T20, Abu Dhabi T10, among others.”

“As more international and domestic tournaments begin to ramp up this fervour among fans and players, these new games would strengthen India’s fantasy gaming industry by offering a place to play and participate in live sports as well as analyse statistics, facts, and display expert knowledge.”

It would be incorrect to conclude the topic of fantasy gaming 2023 trends, by missing out on the emergence of celebrity presence in the space. PlayerzPot has south siren Rashmika Mandanna as its brand ambassador for the casual games vertical. But what happens when

an actor or celebrity is associated with an online gaming brand? More says, “Fantasy sports platforms are always looking for new avenues to engage their users. One of the finest ways to stay ahead of the curve and acknowledge the fervour of Indian sports fans is through brand associations and celebrity endorsement.”

“Collaborations with notable personalities and trusted brands add a layer of trusted incentives for users to explore. Such collaborations allow platforms to reach out to potential users across mediums such as television, social media, streaming, offline events, and more.”

EvenBet Gaming

One of the leading developers and suppliers in iGaming, EvenBet Gaming is the brand we approached to know more about the trends in online poker. Dmitry Starostenkov, CEO, EvenBet Gaming dived into multiple aspects related to online poker. About poker becoming more casual in nature, he says, “Due to its growth, online poker is experiencing an influx of players who are less acquainted with poker and skill games. For them, technical excellence or specific pro features are less important but they need a lot of entertaining options like emojis, video avatars, throwing reactions and various objects at the table, etc.”

Dmitry Starostenkov, CEO, EvenBet Gaming

“The general trend for poker to

become more casual also changes the game and tournament preferences. It will be more than ever necessary for an operator to have rapid (fast-fold) tables, all-in or fold, double or nothing, and other types of very quick games, leaving minimum time for reflection or using complex player tactics.”

“The ‘try once more’ trend also will become more significant; re-match for cash games and re-entry for tournaments are already extremely popular in India. Speaking of the Indian market, here is a perfect example of this trend implementation.”

“Due to millions of casual card game players and mobile-only apps, Indian operators are veritable pioneers in entertaining features and game types use and creation. We expect this to continue in 2023.”

The top boss at EvenBet Gaming also commented on player segmentation. Starostenkov adds, “An overall predominant trend in online gaming, deep player segmentation allows operators to retain their players better by providing them with the most personalised and engaging experience. In online poker, segmentation is actively used to distinguish newbies from skilled players

and VIPs or high-stake players from the general audience. In India in 2023, we expect segmentation to become a must in poker, especially first user-experience tools targeted at newcomers.”

“Many poker rooms in 2023 will go further, adapting their offering not just for the new but for existing players. Targeted tables and tournament offerings, creating and improving match-making algorithms, and special conditions for different player groups will soon become a daily practice in poker.”

“We will see game match-making of the level close to what Amazon offers to shoppers or Netflix to viewers.”

“Due to this, deep analytics and A/B testing will become crucial for project success. Probably, we will see even more data analysis solutions targeted specifically for online gaming.”

The above views from industry bosses must have definitely given you some food for thought. We’re now in the third month of the year, and it would be interesting to see how the online skillgaming space adapts to the predicted trends and the corresponding impact it brings within the gaming community.