Indian poker startups like Adda52, Poker-Baazi and Spartan Poker make at least five crore rupees a year, or $50 million, reported The Economic Times. Reports last year placed the startups’ worth at an estimated $110 to $120 million.
Rajat Agarwal, the co-founder of Spartan Poker who referenced these reports, said that this model is working.
“Online poker is a profit-making model,” he told The Economic Times.
Over 50,000 people play online with these “homegrown” online poker startups and 95 percent of India’s professional players are male.