A half-day ‘Skill Gaming Summit’ was held by The Rummy Federation at Hotel Taj Mahal Palace in Mumbai on 19th July. A knowledge paper was also released at the event by TRF Knowledge partner Deloitte. The paper titled ‘Online Skill Gaming in India: The Changing Landscape’ shed light on the emerging trends in online rummy, the market size, potential for growth, gamer characteristics and the regulatory landscape in India. According to the report, the online rummy industry witnessed an increase of 67% in the last 3 years and is set to grow to Rs.3,500 in revenue by the end of the decade.
The event also saw the release of a self-regulatory ‘Code of Conduct’ for online rummy operators. As per the guidelines, all members of TRF are to adhere to certain best practices and standards calling for excluding minors from playing games involving real money and capping the amount that can be deposited by players.
Panel discussions were held on the skill gaming industry. The first discussion, ‘Insights from Regulators’ revolved around the industry’s need to come together with a common intention to safeguard the interests of players and working towards increasing the growth of the industry.
The Second discussion titled ‘Online Skill Gaming: Opportunity and Outlook’ saw panelists discuss the evolution, growth and potential of the online rummy and fantasy sports industries.
The final session of the panel discussion on ‘Current Issues and benefits of regulation’ saw the panelists discuss data science can help predict problem behaviors of players in advance.
The panelists also noted that the central or state governments changing their policies suddenly affected investors’ confidence and that there should be regulatory and policy certainty for all investments made in the country.
The panelists also acknowledged that the changing policies of the central and state governments affected investor confidence and there was a need for regulatory and policy certainty for all investments made in the country.