According to CEO Rafi Ashkenazi, even though it might take a while to grow the market, a Move into India is most likely to end up offsetting the potential loss of Australia. PokerStars is likely to end up withdrawing its services from Australia in the wake of a new law which is set to completely transform the country from a gray into a black market.
According to reports, PokerStars is extremely eager to keep its nose clean in a bid to protect its licenses all over the world. However, the introduction of the long-awaited amendment (aimed at renegotiating the country’s interactive gambling act) to the Australian parliament is set to end up making it illegal to operate there should the motion sail through. More specifically, this act will also serve to offer legal clarification which is, only operators holding a license will be allowed to offer their products to Australians. It is very important to note that Amaya would not be able to apply for a license for PokerStars since the USA online poker, unlike other sports betting, has never been legalized in the country.
According to the minister for services, the government has already shown commitment towards taking tougher actions against any illegal wagering providers (something which this same piece of legislation also addresses).
Black is the New Gray
Finally, a few licensing jurisdictions show interest. For example New Jersey. New Jersey have been noted to tolerate operators who operate in a gray market. At the same time, they have made it extremely clear that black market operators will most definitely never be condoned. Indeed, they consider this strongly. However, PokerStars wants to get in the NJ gambling market. Yes, they are want to receive the New Jersey licensing. However, it is highly unlikely that Amaya receives its precious foothold anywhere in the US.
Just so you know, the gray markets matter. First of all, there is a reason we continuously mention them. Furthermore, grey markets are countries that need to regulate gaming. However, is this illegal? Well, we don’t know. If you have questions about the laws, consult an attorney. Moreover, it appears, the government can’t pass any specific laws that forbid it. More specifically, we refer to black markets where there are no laws yet.
India a “Greater Opportunity”
Ultimately, this relates to Amaya’s CEO Rafi Ashkenazi. Furthermore, he feels bad about losing Australian Customers. Also, he wants to offset the loss. More specifically, he takes into consideration the plans to move into the Indian market. However, this happens in the first half of 2017. “India seems like a greater opportunity compared to Australia, as a matter of fact, when we look at the player base, it would most definitely be a bigger one. Nonetheless, from the purchasing power view of matters. Furthermore, India seems largely different from Australia”. Moreover, Ashkenazi says this on record.
Indeed, He goes on the record. In a recent press release, he makes a statement. He says “we estimate the market in India to be between $80 million and $150 million annually. Hence, it will most definitely be bigger than Australia eventually. This being the case, it takes us a considerable amount of time to build it up to this level”.
86% Increase In Ruppes
The recent cull of close to 86% of rupees in India’s currency circulation through immediately impacted the live casinos based in Goa, the movie is not expected to have any long term implications for online operators.