What’s Next for India’s Real Money Gaming Industry?

Real Money Gaming (RMG) has become a widely popular form of entertainment in India, providing players with the chance to win real cash prizes. Niko Partners classifies RMG platforms as a separate category from traditional video games, given their reliance on user deposits and associations with gambling.

However, investment in India’s RMG platforms has dwindled following changes to tax rules and retrospective claims from tax bodies. While these new rules may have affected company revenues, there has been limited analysis of their impact on monetization and player spending. In this Knowledge Brief, we examine how these changes have influenced monetization, spending patterns, and their effects on the wider RMG industry in the Indian market.

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