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India’s online gaming scene is on fire, defying prevailing tax and regulatory hurdles. Bangalore’s Stan, buoyed by a $2.7 Million pre-Series A funding bonanza, is leading the charge. This follows their initial $2.5 Million seed investment, fueling their ambitions to empower creators and monetize content. Stan caters to smaller city users with digital collectibles and exclusive community access, positioning itself as a major player in the evolving Indian gaming market.
Meanwhile, Bollywood superstar Hrithik Roshan has lent his star power to Games24x7’s “Khelo Befikar, Jeeto RummyCircle Par” campaign. This initiative by RummyCircle champions secure online gaming, addressing user concerns and promoting safe platform choices. It emphasizes data security, secure transactions, and bot prevention to create a trustworthy and enjoyable experience. This resonates with India’s recent regulatory push for responsible gaming.
Despite the booming success, the industry faces ethical challenges, underscored by the recent ₹1.70 Lakh fraud reported at Goa’s Big Daddy Casino, allegedly orchestrated by an employee. Deepak Das, the accused, reportedly manipulated a guest’s gameplay records to inflate winnings and trigger a hefty bonus payout. This incident underscores the critical need for stringent security measures and ethical conduct in the gaming industry.
Online Gaming Platform Stan Secures $2.70 Million in Pre-Series A Funding
Stan, a Bengaluru-based online gaming platform, has secured $2.70 million in Pre-Series A funding, adding to its initial $2.50 Million seed investment. This infusion, led by Aptos Labs and Pix Capital, with previous support from General Catalyst, Better Capital, and Eximius Ventures, positions Stan for significant expansion in India’s thriving gaming market.
Founded by Parth Chadha, Stan focuses on equipping creators with advanced infrastructure for content development and monetization, featuring digital collectibles and exclusive community access. The platform, boasting 4 Million users, mainly from smaller cities, aims to be a significant player in the evolving Indian gaming industry.
According to Mint, Parth Chadha expressed what he envisions: “The Indian market presents a lot of challenges for creators to monetize their content, and we want to tap into the creator supply and help them grow their fan base and monetize from Day 1.”
Anand Chandrasekaran of General Catalyst expressed excitement about Stan’s role in the growing esports ecosystem.
According to an EY report, India, the world’s second-largest online gaming market with 425 million gamers, is expected to see a rise in paying gamers to 34% by FY28. This growth, coupled with the influence of top gaming influencers in the country, indicates a bright future for the industry. Stan, at the forefront of this evolution, is set to make significant strides in the sector.
Hrithik Roshan Partners With Games24x7 For “Khelo Befikar, Jeeto RummyCircle Par” Campaign to Promote Secure Online Gaming
2023 marked a significant turning point in the Indian online gaming industry, with more explicit regulations fostering responsible growth and enhancing the digital economy. This change highlights the importance of promoting credible skill-based gaming platforms, clarifying misconceptions, and encouraging prudent user choices.
Games24x7 aims to reinforce its dedication to responsible gaming by launching its campaign “Khelo Befikar, Jeeto RummyCircle Par.” This initiative, centered around its platform RummyCircle, focuses on ensuring player safety and well-being in the online skill-gaming domain.
Featuring Bollywood star Hrithik Roshan, the “Khelo Befikar, Jeeto RummyCircle Par” campaign aims to help users navigate concerns and make informed decisions for a secure gaming experience on trustworthy platforms. It underscores the importance of data safety, secure transactions, and the prevention of bot use, creating a safe and enjoyable gaming atmosphere. To be released in Hindi, Kannada, and Tamil, this campaign seeks nationwide engagement and clarity on its features.
Games24x7 adheres to E-Gaming Federation regulations, prioritizing fair play and ethical gaming. It focuses on protecting user data and employs robust digital security and anti-fraud measures to ensure a secure gaming environment.
Casino Crackdown: Employee Orchestrates ₹1.70 Lakh Fraud, Goa Police on the Case!
Goa Police made a decisive move on Monday, arresting Deepak Das, an employee of Big Daddy Casino in Panaji, for his alleged role in a ₹1.70 Lakh fraud. The complaint, lodged by Amit Garg of Golden Globe Hotels Pvt Ltd, which operates the casino, has sparked a thorough investigation into this breach of trust.
Deepak Das, hailing from Maharashtra, is charged with manipulating the reports of a guest, Asim, to falsely increase his gameplay and winnings and secure a ₹1.70 Lakh bonus. Das reportedly doctored a report for Asim, who had gambled a mere ₹27,000, far less than the high-stakes play portrayed in the fabricated report.
The fraud capitalized on a casino policy that awarded a massive bonus for play sessions over ₹1 Lakh. By falsifying Asim’s gaming record, Das triggered the bonus payout, leading to the wrongful disbursement of the large sum.
Garg’s allegations suggest a deeper conspiracy, accusing Das and Asim of conspiring to split the fraudulent earnings. This case of double deceit is currently under scrutiny, with Police Sub-Inspector S. Pokhare spearheading the investigation to unravel the intricate details of this fraud.
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