In the many years of the existence of this game with millions of players and a huge number of rooms at the moment there is only one recognized case of fraud. There are many online poker sites in India. If MatchIPL and other pro-poker advocates can succeed in changing opinions across India, it will not only benefit PokerRaj, but also startups like 9Stacks.The online poker industry has grown tremendously in recent years, with the player base doubling every 6 months. As emphasized by MTV’s commercial, MatchIPL is framing poker as a sport and, therefore, distinct from games of chance.Įfforts like this are aimed at convincing politicians in states like Gujarat that the game isn’t a form of gambling. Set to take place in Mumbai between October 23 and 24, the team tournament is a chance for India’s best to compete for real money prizes and for them to prove poker is a game of skill. Having already hosted two successful team events, the organization is now working with MTV to promote the new season. MTV on BoardĪs 9Stacks announced an industry first, PokerRaj and its founder Raj Kundra have been busy preparing for the third season of the Match Indian Poker League (MatchIPL). 9Stacks will be aiming to compete the leading brands and capitalize on India’s growing interest in poker with its newfound wealth. But with lawmakers currently divided on its status, regulation could be described as piecemeal at best.ĭespite a lack of agreement across the country, states such as Nagaland have introduced their own laws that have allowed operators to gain a foothold in the market. With a population of more than one billion, India has become a major growth market for poker. “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 itself,” 9Stacks CEO Sudhir Kamath said. Leading the first round of funding is WaterBridge Ventures, a company that describes itself as a “venture catalyst for tech entrepreneurship in India.” Among the investment firm’s diverse portfolio of startups is lending platform ZipLoan and used-vehicle marketplace BlueJack.įor the team behind 9Stacks, the funding has been a testament to the growth of online poker in India. According to the company’s press release, the fundraising effort is the first time an Indian poker site has achieved this type of financial backing.

$3.8 million) to develop its product and expand its reach across India. (Image: )Īnnounced on October 1, the initiative will see 9Stacks receive 28 crore (approx.

PokerRaj founder Raj Kundra (seen here with wife Shilpa Shetty) has been instrumental in supporting India’s thriving poker scene.

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