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  1. #1
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    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

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    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?

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

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    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!

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    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?

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    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
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Size:  5.8 KB

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    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.

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