Launching a new property is always a proud moment for us, and making this occasion even more remarkable is our first guest – India’s poker pioneer and PokerGuru founder – Aditya Agarwal!

Agarwal’s name is synonymous with poker in India, and he is regarded as one of the top players in the game. The Kolkata-born pro’s list of achievements is endless. Still, his most recent accolade has once again proved to the domestic poker circuit that Agarwal is the G.O.A.T of Indian poker.

Agarwal achieved an incredible feat by winning the ₹5 Crores GTD IOPC #141 The Crown on Spartan Poker, the biggest-guaranteed IOPC tournament, on February 5. The tournament drew a record-breaking 5,173 entries, and Agarwal fought his way through 771 qualifying stacks on Day 2, facing Arsh Grover in the heads-up finale. Agarwal had carried four stacks to Day 2 of the epic tournament, of which two made it to the final table.

Aditya Agarwal’s IOPC – The Crown ITM finishes:

> 1st for ₹57,73,215* (heads-up deal with Arsh Grover)

> 8th for ₹6,27,750 (carried two stacks to the FT)

> 21st for ₹1,71,020

> 765th for ₹20,120

Being good friends with Grover off the felts, the duo settled for a heads-up deal, with Agarwal emerging victorious and taking home an impressive ₹65.93 Lakhs (from four stacks). Grover secured a career-best runner-up prize of ₹48.93 Lakhs (from three stacks).

Agarwal’s win was particularly sweet as he had previously lost the IOPC – The Crown title heads-up to Vaibhav Temani in July 2021. As he finally claimed the prestigious title, he also won an 18-carat gold crown studded with 0.6-carat diamonds.

The Kolkata-born pro revealed that he had taken a break from online poker for the last 18 months to spend quality time with his family. However, he intends to increase his online poker volume this year since he has again resumed coaching players.

He emphasized that the online poker scene in India is flourishing and that live poker in Vietnam is experiencing significant growth.

Sharing some advice for players, Agarwal said anyone planning to attend the WSOP should be well-prepared and budget accordingly. His insights and recommendations will undoubtedly benefit poker enthusiasts looking to up their game.

You can listen to the complete podcast below.

Here is a timeline of the podcast highlights.

1:03 – Agarwal reminisced about his Day 2 run in Spartan Poker`s IOPC 14.0 – The Crown. He carried four stacks on Day 2, ran really well, and got into a perfect ICM spot with two stacks on the FT.

1:27- Talking about the final table, he shared that there was a lot of ICM consideration; the IOPC – The Crown FT was one of the bigger final tables. Since he was chip-leading, he was in an excellent position to exert pressure.

1:50 – He admitted that Arsh Grover wanted to discuss a deal four-handed, but since he was firmly positioned, it was not advantageous for him to go in for a deal; then, he passed the opportunity.

2:19 – Agarwal recalled that the final table of the IOPC – The Crown was straight –forward.

2:48 – Agarwal confessed that he has not been active on the virtual felts for the past 18 months as he wanted to prioritize spending time with his family. However, he has recently resumed coaching and intends to increase his online poker volume this year.

3:31 – Agarwal praised the Indian domestic poker websites for their role in promoting the game in the country. He believes the tournaments they offer are excellent for the poker community, but he acknowledges that taxes remain a significant issue. As a precaution, he advises players not to keep large amounts of money on the websites for an extended period.

5:00 – Agarwal talked about the standout pros of the Indian poker diaspora, mentioning the likes of Ashish Munot, Vishal Bajaj, Gaurav Sood, Sahil Chutani, Anuj Yadav, Ankit Wadhawan, Ashish Ahuja, Arjanveer Singh Chadha, Vivek Singh, and Sreeharsha Doddapaneni.

6:09 – Rapid fire round!

7:49 – Talking about attending the W.S.O.P. for 18 years and counting, Agarwal mentions that he is unhappy with the 2023 W.S.O.P. schedule. He explained that the schedule heavily focuses on high-stakes and low-stakes tournaments, with very few mid-stakes events – which he prefers.

9:16 – According to Agarwal, attending the WSOP may not yield high ROI for most players. However, he believes players should still consider going for the experience it offers. Agarwal stresses that participating in the World Series is a valuable learning experience, and it’s difficult to determine the ROI a player could get if they don’t attend the series.

9:54 – Agarwal suggests that players considering attending the 2023 WSOP should carefully plan their budget. While there are many tournaments to participate in, players should avoid burnout. They should also take the opportunity to enjoy their time in Las Vegas and travel around the US. He also advises players not to put too much pressure on their performance as live tournaments are subject to a lot of variance.

10:33 – Agarwal, who recently participated in the APT and WPC stops in Vietnam, noted that the country’s live poker scene is rapidly growing. However, given that live tournaments have been around for longer in India, Agarwal believes that Indian players have an advantage over their counterparts from other Asian countries.

11:40 – According to Agarwal, live tournaments in Asia are organized and run pretty well and are comparable to Western events. However, he believes Indian organizers have some catching up to do in this regard since they focus more on the TV table as opposed to the player experience.

12:24 – Agarwal emphasized that to succeed in poker, players must prioritize specific actions, such as working hard, being consistent, and continually increasing their knowledge.

13:33 – Agarwal concluded by remarking that the current state of poker in India is very promising, with a growing number of talented players, well-functioning sites, and new platforms emerging. He believes it’s an exciting time to be a poker player in the country.

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The post Introducing PokerGuru Podcast With Chota Macchi: Episode 1 FT. IOPC 14.0 – The Crown Champion Aditya Agarwal appeared first on PokerGuru.

While the consequences aren’t as catastrophic as those of the 28% tax on all contest entry fees, which was deliberated during the 50th GST Council meeting, the implications of this decision remain significant and far-reaching for all involved parties, including operators and players. However, the move has stirred widespread confusion regarding the potential implications for the industry and the road ahead.

To shed more light on this matter, we brought in Jay Sayta, a legal specialist in online gaming, to dissect this intricate subject in Episode 2 of the PokerGuru Podcast.

Sayta, in an all-encompassing discussion with PokerGuru`s Saumya Paithankar, sketches the landscape to expect in the aftermath of this verdict. He touches on topics such as the government’s plan to revise the CGST Act, an estimated timeline for the amendments to take effect, the likelihood of the Council revisiting this decision, and potential legal countermeasures for the industry. Furthermore, he cautions about the potential transformation of India’s gaming industry without substantial backing from stakeholder states.

The conversation explored possible reactions from operators, such as absorbing the tax on deposits by increasing rake and reducing bonuses and other giveaways. Sayta predicts a consolidation wave, with smaller operators possibly succumbing to pressure. Professional player winnings, marketing budgets, and workforce dynamics might also feel the impact of these regulations.

Despite the challenges, Sayta expressed confidence in the industry’s resilience and unity. With the upcoming general elections in 2024 and gaming recognized as a sunrise sector, his insights offer both a sobering reality check and a glimmer of hope for a sector teetering on the brink of a significant transformation.

Watch the complete episode below:

Here is a timeline of the interview highlights.

1:16 – Discussing the immediate repercussions of the GST Council’s decision, Sayta emphasized that the Council has only made recommendations to the Union and state governments, along with Union territories. These suggestions call for specific changes in the CGST and SGST Acts, but at this stage, they are merely recommendations.

2:13 – As far as the next step is concerned, Sayta mentions the Central government will have to introduce the related legislation in the Parliament, possibly in the next week itself, and all the states will also have to pass similar Acts for the next tax regime to come into force.

2: 39 – Certain changes to the rules and notifications to the Act are required, and the Finance Minister has indicated that they plan to do this rapidly and try to complete the process by October 1.

3: 54 – Sayta said assuming the required legal process is completed by October 1, everyone, including gaming companies, would have internally initiated the process to transition to the new tax system. However, he feels enforcing the new tax regime could take longer.

4: 39 – Sayta clarifies that once the amendments are brought into force, the Parliament passes the Law, and the President approves it, there is a high likelihood these will be legally and constitutionally challenged.

5: 13 – Sayta believes some gaming companies or federations might approach the court, resulting in litigation on the issue.

5:57 – Sayta pointed out that there have been mixed views. He says the entire industry is not totally opposed to the move. Many larger operators would be less affected and have the financial stability to absorb this hit and pay GST on deposits.

6:23 – For players, this means an expected increase in rake, a reduction in the prize pool, and a decrease in ROI. Bonuses and rakeback they enjoyed before will likely be reduced. Companies may also bear some of the burden, as they might absorb the higher GST by taking a hit on their profitability and margins rather than pass on the entire tax to players. The result for players could be a higher rake and lower bonuses and cashback.

7: 12 – Sayta says that larger operators would be in a position to tide through this and absorb this burden. Smaller companies would face challenges, and some may even shut shop.

7:34 – According to Sayta, the exact impact will be known only once the changes are rolled out. Still, he sounded confident that there will be some consolidation in the number of companies operational in the gaming space.

8:08 – There could be a review of the decision or a legal reprieve, but at the same time, Sayta doesn’t see a total shutdown of the industry. At the same time, there will be some sort of consolidation. Seeing the changes will take 6-12 months or even more.

9:20 – Talking about possible solutions of permitting player-to-player transactions and cross-platform transactions, Sayta pointed out this is a complicated topic since specific RBI guidelines need to be considered on B2B transfers, and sites would be operating like semi-closed wallets, requiring licenses, etc. Moreover, such transfers could also be termed as deposits by RBI.

9: 57 – Sayta said there is no incentive for companies to allow across-platform player-to-player transfer and let the liquidity flow out of their sites, underlining that this doesn’t seem like a very practical or feasible option at the current stage.

11:15 – Sayta reiterated that a reduction in rake doesn’t seem to be on the cards. On the contrary, the rake may be increased if the sites are to allow players to continue playing with their total deposits.

12:09 – Sayta predicts that an increase in rake may lead to players migrating to offshore platforms, depending on the player retention policies that the operators follow.

12:40 – He reiterated that the GST Council clearly stated that the government will act on foreign operators who do not pay tax, or else it will try to weed out such operators.

13:08 – Sayta admitted with every increase in rake, and consequently in player winnings, there is likely to be a reduction in player traffic and engagement.

13:46 – Sayta mentions that if the GST Council had decided to increase GST on GGR, that would have been the optimal move for all parties concerned. Sayta said right now, platforms are paying 18% tax on GGR, so 28% would mean a 55% increase in tax, but most companies would have been able to absorb the impact by reducing and rationalization on certain costs. Unfortunately, the GST Council rejected the option, but it is open to reviewing the terms in the future.

14:49 – Sayta said 28% GST on GGR is the most ideal solution, voicing optimism that the Council may adopt the same in the future.

16:00 – Sayta said it’s too early to predict that the government’s GST collection from this move will drop. The exact math will become evident only after user behaviour patterns are clear. Marketing and advertising budgets will definitely be slashed.

17:15 – As for the possibility of the GST Council retracting its decision over time, Sayta highlights it as a wait-and-watch scenario, and the support that the issue gets from different stakeholders will decide the road ahead. Goa and Sikkim were very vocal in their dissent on the decision. Delhi also supported a rethink on high GST on online gaming.

18:05 – Sayta mentions that the gaming industry should be prepared to pay a fair share of taxes.

19:35 – Sayta said that the player community is resilient, has adapted to changes in the past, sidestepped state bans, etc., and feels confident that it will flourish and continue to play on the platforms, will survive and sustain even in such an environment.

20:20 – On a parting note, Sayta reiterated that it is important not to look at the situation negatively. The industry will likely adopt, and so will the players, so things should be taken positively.

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The post PokerGuru Podcast: Episode 2. FT. Technology & Gaming Lawyer Jay Sayta – The Road Ahead After GST Council’s Dictat of 28% Tax on Player Deposits appeared first on PokerGuru.