Interestingly, of the total of 516 online gaming companies in India, nearly one-fourth or 106 companies are real money gaming companies (RMGs), according to data from market intelligence firm Tracxn. The value of the real money gaming segment of India's online gaming market is expected to increase by 11 billion INR to reach 60 billion INR in the next four years.
FINANCIALLY REWARDING
Unlike casual games, real-money games (RMG) reward players with real cash. A user makes a deposit in cash or kind with the expectation of earning winnings on that deposit. Card-based games such as rummy and poker were part of the first wave of real money games in India.
Fantasy sports and quizzing games are among those driving the second wave. Some of the prominent online real money gaming companies in India include Dreams11, Zupee, MPL, Adda52, RummyCircle and Ace2Three.
BATTLING 'GAMBLING' PERCEPTION
For a long time, the online real money gaming companies have been equated with gambling. In fact, most of the suicide cases in the states have been linked to the addictive nature of the games and involvement of real money.
In their defense, however, companies have been making a "game of skill" argument, wherein using one's mind and acumen to win money can't be termed as an illegitimate activity and plagued as gambling.
FACING BLANKET BANS
This story is from the May 2023 edition of Entrepreneur magazine.
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This story is from the May 2023 edition of Entrepreneur magazine.
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