Taj Rummy founder praises SPiCE 2019
Ahead of the show, Taj Rummy founder Pariekshit Maadishetti talked with Eventus International’s staff about Spice 2019.
India.- Pariekshit Maadishetti is the founder of the Grid Logic Group and Taj Rummy – India’s first and only rummy brand powered by the cutting-edge Artificial Intelligence technology. Taj Rummy and its network are currently India’s fastest growing brands in this space with plans to spread out globally in the very near future. Pariekshit has always been deeply enamoured by Gaming but his vision and appetite for building businesses led him to augment the group companies further into exciting ventures namely Software, Media and Hotels & Resorts.
The Eventus International crew asked Mr Maadishetti about the gaming industry and the upcoming SPiCE 2019, where he’ll be a speaker.
Eventus International: Lack of clarity between regulators and jurisdictions on what is and what isn’t a game of skill is a continuous theme worldwide. How would you define a game of skill and what impact would a clear definition have on the sector at large?
Pariekshit: The game in which skill can override chance with human intelligence is a game of skill. The system/dealer in both online/offline world deal the cards, the rest of the game/result are driven and validated by skill.
Yudi: In your opinion, how does having an ethical player protection policy safeguard the reputation of the gaming industry in India?
Pariekshit: Any and all protection is good for the industry. However, I personally believe that policies and regulations should go hand in hand.
EI: You will also be speaking on the panel discussion titled “Mobile gaming market in India: opportunities, monetisation challenges and solutions?”. What added value will you be sharing with the audience?
Pariekshit: Value #1: We are the very first company in India which identified the gaps in player protection system and introduced AI (Artificial Intelligence) to save the game and money, the challenge was overcome by a tech-driven solution.
Value #2: It’s a growing industry and as per the recent TRF report, online gaming will be 3460 CR by FY 19-20 (P). How to tap that as an international player, domestic player and as an affiliate.
Value #3: Challenge from state laws: how do you overcome by involving in self-regulation, maintaining high standards and derisk the business by maintaining the right profile.
EI: What are the latest skill-based products that are becoming increasingly popular in India?
Pariekshit: I have always believed that rummy and poker are profitable skill-based products.
EI: Gaming in India is rapidly gaining acceptance, by both customers and legislators, but many questions remain; what exactly is gaming? How is it currently treated in India and what are the best practices that international operators follow that can be adopted here to regulate the industry as well as earn the government increased tax revenue?
Pariekshit: The honest answer is that all games (RMG, Social, Free) are under gaming, I think that is right for now. 80% of gaming is skill and we are all riding on that “gaming tag”. The simplest way to enter India is with a white label solution as that’s the fastest route to market.
EI: What do you look forward to by being a part of SPiCE 2019?
Pariekshit: It was a lovely conference last time: the right mix of like-minded industry experts were present and it was the place to have a great conversation.
After successfully hosting the Sports Betting & Gaming India (SBGI) summit in Goa in February this year, Eventus International has announced the rebranded Strategic Platform for iGaming Conference & Exhibition (SPICE), scheduled to take place on the 26th & 27th February 2019 in Goa, India.
The two-day event will delve into the impact and opportunities that come with clear and well-defined legalised gambling. Presentations will discuss investment opportunities in online skill gaming and brick and mortar casinos, effective structuring of foreign investments and gaming businesses, responsible gambling and the player protection and the socio-economic and financial benefits of legalised gambling etc.
