Results 1 to 7 of 7
  1. #1
    The Buzz's Avatar
    The Buzz is offline GPWA Gossip Hound
    Join Date
    February 2007
    Location
    Newton, MA
    Posts
    4,150
    Thanks
    406
    Thanked 1,853 Times in 1,136 Posts

    Default Indian online poker portal makes "history" with Series A funding

    Indian online poker platform 9stacks announced last week that it has raised 28 crore ($3 million) in the funding round led by WaterBridge Ventures and the startup’s existing pool of investors, and also claims it has made history by becoming the first poker-only platform in the country to complete a series A funding round. The company, which launched just last year, also says it currently has a user base of more than 100,000 “subscribers.”

    From Card Player Magazine:

    “India is at the cusp of massive online gaming adoption with an exponential increase in players and revenue expected in this sector,” said WaterBridge Ventures Managing Director Manish Kheterpal. “Real-money gaming will have a significant wallet share of online due to ubiquitous mobile access [in India], increasing disposable income, convenience and superior user experience.”

    9stacks said that it will use the funding to ramp up user acquisition, data analytics, machine learning, as well as product and market expansion. The poker platform is seeking to become “the preferred” site for online poker in India.

    “With Waterbridge Ventures becoming the lead investor in our series A fund raise, we are delighted to announce that 9stacks is India’s first online poker company to reach this funding milestone,” said 9stacks CEO Sudhir Kamath. “This is a great sign of confidence in the 9stacks team, the systems and processes we’ve put in place, in addition to the rapidly growing market.”

    The poker startup, which launched last year, said that it recently took 25 of its users to the 2018 World Series of Poker in Las Vegas. It said that two of those players finished in the top 100 in the Main Event. Two Indian poker players have won bracelets on poker’s biggest stage.
    Read more here: https://www.cardplayer.com/poker-new...ries-a-funding

  2. The Following User Says Thank You to The Buzz For This Useful Post:

    Cash Bonus (6 October 2018)

  3. #2
    doovde's Avatar
    doovde is offline Private Member
    Join Date
    October 2009
    Posts
    108
    Thanks
    4
    Thanked 65 Times in 37 Posts

    Default

    Anyone got any experience of payment processing in India? Is it still the case that other than Neteller or Skrill it’s very hard to get money onto a site?

  4. #3
    Cash Bonus's Avatar
    Cash Bonus is offline Private Member
    Join Date
    May 2014
    Posts
    4,967
    Thanks
    8,394
    Thanked 2,850 Times in 2,074 Posts

    Default

    100,000 subscribers for their company from only last year is quite good.

  5. #4
    Cardy007's Avatar
    Cardy007 is offline Public Member
    Join Date
    October 2018
    Posts
    117
    Thanks
    29
    Thanked 40 Times in 32 Posts

    Default

    I read in Forbes that "Estimates suggest that India's mobile games market will be worth $1.1 billion by 2020, and number of users projected to become 628 million by then."


    Mobile gaming has run in parallel to the rise in smartphone adoption in India, which is set to have 530 million smartphone users this year.

    Looks like we are going to lot companies reacing out to the Indian market to grab some quick market share!

  6. #5
    lithejed's Avatar
    lithejed is offline Public Member
    Join Date
    October 2018
    Posts
    13
    Thanks
    0
    Thanked 3 Times in 3 Posts

    Default

    These are fantastic numbers. India is one of the fastest growing countries in the world, so nothing is surprising in this.

    I think everyone knows how old do you have to be to play online poker in the United States. But at what age can you play online poker in India? Do you have such data?

  7. #6
    PROFRBcom's Avatar
    PROFRBcom is offline Private Member
    Join Date
    April 2013
    Posts
    2,169
    Thanks
    1,510
    Thanked 1,243 Times in 808 Posts

    Default

    Quote Originally Posted by doovde View Post
    Anyone got any experience of payment processing in India? Is it still the case that other than Neteller or Skrill it’s very hard to get money onto a site?

    Looks like they offer the following options: https://i.imgur.com/Xy9hVKB.png
    Name:  Xy9hVKB.jpg
Views: 269
Size:  5.8 KB
    https://professionalrakeback.com

    We write excellent long-form content for other webmasters, for free.
    How can we work together on a win/win deal? Be creative!

    I love all links, even NoFollow links!

    Lots of open positions available, PM me:
    • Poker Site Reviewer
    • Casino Site Reviewer
    • Sports Site Reviewer
    • Investigative Reporter
    • Poker Software Reviewer
    • Live Poker Venue Reviewers in US, CA, AU
    • Poker Book Reviewer
    • Drupal Developer
    • Forum Moderators
    • Twitch Poker Streamers

  8. The Following User Says Thank You to PROFRBcom For This Useful Post:

    doovde (31 January 2019)

  9. #7
    TheGooner's Avatar
    TheGooner is online now Private Member
    Join Date
    March 2007
    Location
    New Zealand
    Posts
    4,457
    Thanks
    2,058
    Thanked 4,439 Times in 2,116 Posts

    Default

    Quote Originally Posted by Cardy007 View Post
    I read in Forbes that Estimates suggest that India's mobile games market will be worth $1.1 billion by 2020, and number of users projected to become 628 million by then.

    and

    Quote Originally Posted by lithejed View Post
    These are fantastic numbers. India is one of the fastest growing countries in the world, so nothing is surprising in this.
    So the "Experts" expect 1 in 2 people to be playing mobile games - and the average value of the player is about $1.50 each ?
    I think I'll put that market aside until it develops and continue the India blocks.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •