Currently, the future of the legal status of poker in India looks bleak. Read on to find out more! According to the Supreme Court, games of chance are illegal, but those which are based on ‘skill’. There are some online casinos which provide no-deposit bonuses, ranging from $10 to $25 for a player looking for casino gaming (including internet video streaming). Those online casinos that provide gamers to deal with the live dealer through their web cam streaming facilities are found to include most of these games. The state of online poker market in India is robust and improving year on year. In 2017, the Indian gaming Industry’s market value was about USD 290 million, with over 120 million online gamers. The future of poker in India In the evening, November 8, Prime Minister of India, Narendra Modi, said country’s news what about, after midnight out of circulation banknotes in denominations of 500 and 1k inr (USD rate is same as ruble).
Dublin, May 18, 2020 (GLOBE NEWSWIRE) -- The 'Online Gambling Global Market Report 2020-30: COVID-19 Growth and Change' report has been added to ResearchAndMarkets.com's offering.
The global online gambling market is expected to grow from $58.9 billion in 2019 and to $66.7 billion in 2020 at a growth rate of 13.2%. The growth is mainly attributed to COVID 19, due to which populations are confined to home during the lockdown and have free time to participate in several free and paid leisure activities including online gambling. The market is then expected to reach $92.9 billion in 2023 at CAGR of 11.64%.
The online gambling market comprises of revenue generated by remote gaming activities by means of the internet using desktop and mobile devices. The market includes gambling establishments developing online sports betting, casino, bingo, lotteries, and poker games, among others.
Technologies such as Blockchain, IoT and VR are changing everything in every field including even how one can gamble in an online casino. Virtual Reality and VR Headsets have gained a lot of popularity in recent years and are revolutionary addition to the world of online gambling. With VR, one can actually enter into a virtual casino and play all the games without having to travel. However, fraud and cheating was majorly concerning the users in online gambling. A lot of online casinos and online gambling sites have been accused of not being transparent and hiding their internal workings and the methods for their dealings. These concerns can be addressed using blockchain technology. With blockchain technology, everyone will be able to see exactly what is going on behind the scenes. This will help in preventing fraud and greatly increasing the trust people having these online gambling sites. These technologies, therefore. have biggest impact on the online gambling market.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider online gambling market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID- 19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID- 19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section highlights the likely future developments in the market and suggests approaches companies can take to exploit this.
- The online gambling market section of the report gives context. It compares the online gambling market with other segments of the online gambling market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, online gambling indicators comparison.
Key Topics Covered:
1. Executive Summary
2. Online Gambling Market Characteristics
3. Online Gambling Market Size And Growth
4. Online Gambling Market Segmentation
5. Online Gambling Market Regional And Country Analysis
6. Asia-Pacific Online Gambling Market
7. China Online Gambling Market
8. India Online Gambling Market
9. Japan Online Gambling Market
10. Australia Online Gambling Market
11. Indonesia Online Gambling Market
12. South Korea Online Gambling Market
13. Western Europe Online Gambling Market
14. UK Online Gambling Market
15. Germany Online Gambling Market
16. France Online Gambling Market
17. Eastern Europe Online Gambling Market
18. Russia Online Gambling Market
19. North America Online Gambling Market
20. USA Online Gambling Market
21. South America Online Gambling Market
22. Brazil Online Gambling Market
23. Middle East Online Gambling Market
24. Africa Online Gambling Market
25. Online Gambling Market Competitive Landscape And Company Profiles
- 888 Holdings PLC
- Bet365 Group Ltd.
- Betsson AB
- William Hill PLC
- GVC Holdings PLC
- Kindred Group PLC
- Sky Betting & Gaming
- Stars Group Inc.
- Ladbrokes Coral Group PLC
- Paddy Power Betfair PLC
26. Key Mergers And Acquisitions In The Online Gambling Market
27. Online Gambling Market Trends And Strategies
28. Online Gambling Market Future Outlook and Potential Analysis
For more information about this report visit https://www.researchandmarkets.com/r/v8yvny
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TORONTO, Dec. 15, 2020 (GLOBE NEWSWIRE) -- i3 Interactive Inc. (“i3Interactive” or the “Company”) (CSE: BETS) (FRA: F0O3) is pleased to announce that it has closed the previously announced transaction (the “Transaction”) to acquire a controlling interest in an Indian entity (the “Indian Operating Entity”) which owns an active Indian poker brand (the “Indian Poker Operation”). The completion of the Transaction marks the latest step in the Company’s continued efforts to capitalize on the international growth of poker and create long-term value for its shareholders.
“We are thrilled to have completed this Transaction. With the historical and projected growth of poker in India the Company has strategically positioned itself within a key market in order to deliver strong performance and return on shareholder value. This acquisition is a significant step forward in executing on our strategy to identify and pursue growth in strategic markets. The Indian Poker Operation creates an immediate additional stream of recurring revenues from a loyal customer base in an established international market for the poker business,” said Chris Neville, Chief Executive Officer of the Company.
Indian Poker Operation
As of the date of this press release, the Indian Poker Operation is part of one of the largest poker networks in the world with over a million registrations and 100,000 active users. The Indian Poker Operation operates on an internationally award-winning mobile poker platform with industry leading features such as unparalleled welcome bonuses and VIP programs.
The Transaction
The Transaction, which was completed pursuant to the terms of the business combination agreement dated August 10, 2020 (as amended and modified, the “Definitive Agreement”) entered into by and among the Company and an arm’s length, private British Columbia corporation (the “B.C. Corp.”), was completed by way of a three-cornered amalgamation under the Business Corporations Act (British Columbia) (the “Amalgamation”), among the Company, B.C. Corp., and 1260039 B.C. Ltd. (“Subco”), a wholly owned subsidiary of the Company incorporated for the purposes of completing the Amalgamation. Under the Amalgamation, B.C. Corp. and Subco amalgamated to combine their corporate existence, with the entity resulting from the amalgamation continuing as a wholly-owned subsidiary of the Company under the name “i3 India Holdings Corp.” (the “B.C. India Holding Subsidiary”).
Pursuant to the Transaction, the Company acquired all the issued and outstanding shares of B.C. Corp. (the “Target Shares”), and in exchange, issued, to the former shareholders of B.C. Corp., one (1) common share in the capital of the Company (each, a “Common Share”) for each Target Share held prior to the Amalgamation (the “Exchange Ratio”). An aggregate of 7,859,600 Common Shares were issued to the former shareholders of B.C. Corp. As part of the Transaction, Chris Neville, Chief Executive Officer of the Company, was appointed as the sole director and officer of the B.C. India Holding Subsidiary.
Prior to closing the Transaction, B.C. Corp. held a 99.37% ownership interest in an Indian holding entity (the “Indian Holding Entity”), with the Indian Holding Entity holding a controlling 67.47% ownership interest in the Indian Operating Entity. As a result of the Transaction, the B.C. India Holding Subsidiary now holds a 99.37% ownership interest in the Indian Holding Entity. Pursuant to a shareholders agreement entered into by the Indian Holding Entity and the minority shareholders of the Indian Operating Entity, the Indian Holding Entity is entitled to increase its ownership interest in the Indian Operating Entity up to 75% (on a pre-Reorganization basis, as defined below) on or before May 31, 2020, conditional on satisfying certain funding obligations. The Indian Holding Entity is expected to complete a capital reorganization on or before the end of calendar Q1, 2021 (the “Reorganization”). Following completion of the Reorganization, the B.C. India Holding Subsidiary’s ownership interest in the Indian Holding Entity is expected to be reduced to 86.12% (on a post-Reorganization basis), and, assuming that the Indian Holding Entity satisfies its funding obligations, the Indian Holding Entity’s ownership interest in the Indian Operating Entity is expected be reduced to 64.59% (on a post-Reorganization basis).
ABOUT I3 INTERACTIVE INC.
The Company is in the business of developing an online and mobile gaming platform in order to provide sports fans worldwide with a unique and highly-engaging social gaming product, and sports betting and casino product offering. In an effort to break into the various emerging global markets, the Company has secured partnerships with key industry contacts, including Dan Bilzerian, an internationally renowned and widely respected social media celebrity with over 50 million social media followers.
For additional information on the Company:
Chris Neville
Chief Executive Officer
Tel: (902) 240-4221
Email: Chris@i3company.com
Forward-Looking Statements
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. The forward-looking statements in this press release include statements relating to the projections for growth in the Indian online gaming market, the Company’s plans to relaunch the Indian Poker Operation under the brand name “Blitzpoker”, and the timing of the completion of the Reorganization. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements, including, without limitation, (i) the costs of compliance with and the risk of liability imposed under the laws of the jurisdictions in which the Company is operating or will operate (the “Operating Jurisdictions”) including gambling laws and regulations, sports betting laws and regulations and mobile or online gambling and sports betting laws and regulations, (ii) negative changes in the political environment or in the regulation of mobile and online sports betting or gambling and the Company’s business in the Operating Jurisdictions, (iii) risks relating to COVID-19 (iv) negative shifts in public opinion and perception of the gambling industry, (v) significant competition in the industry, (vi) risks of product liability and other safety-related liability as a result of usage of the Company’s planned gambling and betting products, (vii) loss of intellectual property rights or protections, (viii) cybersecurity risks, (ix) constraints on marketing products,(x) fraudulent activity by employees, and (xi) risk of litigation. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Readers are further cautioned that the assumptions used in the preparation of such forward-looking statements (including, but not limited to, the assumption that (i) the Company will be able to execute on its business plan as anticipated, and will receive one or multiple licenses, permits, and authorizations from time to time necessary to execute on its business plan, (ii) the Company's financial condition and development plans do not change as a result of unforeseen events, (iii) there will continue to be a demand, and market opportunity, for the Company’s product offerings, (iv) the Company will be able to establish, preserve and develop its brand, and attract and retain required personnel, (v) the Reorganization will be successfully completed on the terms and within the timelines anticipated by the Company, and (vi) current and future economic conditions will neither affect the business and operations of the Company nor the Company’s ability to capitalize on anticipated business opportunities) although considered reasonable by management of the Company at the time of preparation, may prove to be imprecise and result in actual results differing materially from those anticipated, and as such, undue reliance should not be placed on forward-looking statements. The forward-looking statements included in this press release are made as of the date of this press release and the Company does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities laws. Forward-looking statements, forward-looking financial information and other metrics presented herein are not intended as guidance or projections for the periods referenced herein or any future periods, and in particular, past performance is not an indicator of future results and the results of the Company in this press release may not be indicative of, and are not an estimate, forecast or projection of the Company’s future results. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.