Connect with us
European Gaming Congress 2024

Asia

Esports World Cup 2024: Indian Esports Industry Reacts to its Potential as Game-Changer for Country’s Video-Gaming Ecosystem

Published

on

esports-world-cup-2024:-indian-esports-industry-reacts-to-its-potential-as-game-changer-for-country’s-video-gaming-ecosystem
Reading Time: 3 minutes

 

In a landmark announcement, Mohammed bin Salman, Crown Prince and Prime Minister of Saudi Arabia declared the creation of the Esports World Cup, set to kick off in the summer of 2024 in Riyadh. The event promises to reshape the Esports landscape and enable the sport to usher in a new era of opportunity and competition for gamers worldwide.

The Esports World Cup will be replacing Gamers8, a renowned Esports festival held in Saudi Arabia. In this year’s edition of Gamers8, there were 20 different competitions across titles such as League of Legends, Fortnite, DOTA 2, FIFA 23, Rainbow Six Siege, PUBG Mobile and Starcraft II amongst others.

Furthermore, the event boasted an unprecedented prize pool of $45 million, marking the largest in the history of Esports tournaments. While the titles for the Esports World Cup are yet to be announced, the tournament will include the most popular games in the world across all genres and have the largest prize pool in Esports history, as per the official announcement.

Advertisement
Stake.com

The recently published “India Games Market Report 2023” by Niko Partners states that India is predominantly a mobile-first market, with 96.8% of total gamers playing on smartphones or tablets. With the opportunity to compete in such a high-profile tournament with substantial prize pools, Indian Esports athletes are expected to diversify into various gaming titles that are not that popular within the community, in order to secure a spot at the tournament. This, in turn, will contribute to the growth and diversity of the Esports industry in the country.

Lokesh Suji, Director of Esports Federation of India and VP of Asian Esports Federation, said: “The announcement of the Esports World Cup is indeed a historic moment for the global Esports community. This tournament will serve as a catalyst for change and growth, both on the global Esports map and in India. For a country with a predominantly mobile-focused gaming culture like ours, this event’s massive prize pool and diverse title offerings will undoubtedly motivate our Esports athletes and aspiring gamers to broaden their horizons and branch out to different titles. We see the Esports World Cup as an exciting platform that not only celebrates Esports but also unites the industry’s stakeholders on a global scale.”

According to data from Gamers8, the 2023 edition of the tournament recorded a cumulative viewership of 1.3 billion, with peak concurrent viewers reaching 1 million. The total views reached 2.09 million, and the impressions stood at 3.8 billion. The event also roped in prominent names such as Adidas, Pepsico, Aramco, Razer and many more global brands as official sponsors.

The Esports World Cup’s magnitude is expected to surpass these numbers, providing high visibility and prestige to Indian athletes participating in the tournament. This will undoubtedly lead to attracting more investments from sponsors, legacy brands, and venture capitalists, which will bolster Indian players and the community.

“Esports has always transcended borders and united passionate gamers from around the globe. With the announcement of the Esports World Cup in Saudi Arabia, the Indian Esports ecosystem is on the verge of a transformative journey. The tournament will not only serve as a platform for our incredibly talented players to showcase their skills on the world stage but also foster international collaboration, promote the growth of Esports in India, and inspire a new generation of gamers to chase their dreams. The Indian Esports community is ready to make its mark and this opportunity is the catalyst we’ve been waiting for. Let’s rise, break boundaries, and redefine what it means to be a part of the global Esports family,” said Animesh Agarwal aka 8Bit Thug, Co-founder of S8UL and Founder & CEO of 8Bit Creatives.

Advertisement
Stake.com

Esports in India has witnessed remarkable growth in recent years, with notable achievements in international competitions. In the Asian Games 2022, the nation fielded a historic 15-member contingent, competing in titles like DOTA 2, Street Fighter V: Champion Edition, League of Legends and EA Sports FC Online. Prior to that, Esports also made an appearance at the Commonwealth Esports Championships in Birmingham 2022 where India’s DOTA 2 team even clinched a remarkable bronze medal.

In the 141st session of the International Olympic Committee (IOC) held in Mumbai recently, IOC President Thomas Bach announced their plans regarding the creation of the Olympic Esports Games. With Saudi Arabia’s commitment to the Esports World Cup, India’s Esports talents will have another global platform to showcase their skills.

Mayank Prajapati aka MiKeYROG, who represented India in Street Fighter V: Champion Edition at the recently concluded Asian Games 2022, said: “As an Esports athlete, I see this as a window of opportunity for every gamer across India to proudly represent the country and make a name for themselves on the global stage. Much like in traditional sports World Cups where previously lesser-known athletes rise to prominence and lead their nation to glory, this could be the moment for Esports athletes to shine. The Esports World Cup has the potential to motivate Indian players to push their limits in various titles, thus expanding the talent pool and propelling the entire sector to newer heights.”

Asia

Fintechs in Kazakhstan Raises Concerns Over Proposed Gambling Regulation

Published

on

fintechs-in-kazakhstan-raises-concerns-over-proposed-gambling-regulation
Reading Time: 2 minutes

 

Fintech companies in Kazakhstan are urging greater scrutiny of a proposed law intended to regulate betting transactions in the country.

The submitted legislation, currently in its final reading, would form a monopoly entity, the Unified Accounting System (UAS), the firms said in a joint press release. The UAS would be used to determine market participants, process payments, maintain a single “electronic wallet” and make settlements with clients. A critical concern is that it could charge up to 1.5% in commissions on all market transactions, within a market where regulated transactions exceed KZT1.2tn ($2.6bn) annually.

Irina Davidenko, a spokesperson for Kazakhstan’s payments industry, commented: “The proposed legislation would be a step backwards for Kazakhstan, harming competition in the country’s vital payments sector and signaling to the outside world that necessary business reform is being driven by shadowy interests, rather than what’s right for industries and consumers.”

Advertisement
Stake.com

The proposal, partly billed as a public health move against problem gambling, resembles a previous initiative, the Betting Accounting Centre (BAC). It was shelved in 2021 after a scandal involving a deputy minister who was dismissed for accepting bribes from BAC lobbyists, according to the press release.

The lack of transparency on the UAS structure and ownership as outlined in the legislation is another aspect of the change that is seen by critics as troubling.

The reintroduction of a UAS model occurred as late as the second reading of the legislation. If passed by parliament, it will become law without the comprehensive impact analysis and scrutiny typical for such significant regulatory change.

Observers argue the new regulation duplicates existing regulatory functions already managed by Kazakh state bodies and was proposed without the cooperation of the National Bank of Kazakhstan. The central bank has previously developed its own reform proposal that avoids introducing a monopolistic entity.

Opponents further contend that the regulation could cause “significant economic damage”. National Bank of Kazakhstan representatives and the payments industry have sounded alarm bells, but the issues have not been adequately addressed, the press release added.

Advertisement
Stake.com

The concerned fintech and payment companies want the legislation to be reconsidered. They are advocating for it to be sent back to the lower house of the legislature for a full regulatory impact analysis and thorough examination to ensure that it does not adversely affect industry or the economy.

Ilya Efimenko, commercial director of the payment organisation PayDala, said: “I appeal to the Senators, who need to know the true purpose of why the UAS has made a comeback in the bill.

“This is a re-emergence of the ‘Betting Accounting Center’ (BAC), a strikingly similar entity that was withdrawn before, and behind which, as the deputy from the Amanat party Elnur Beisenbayev said, are the powerful forces of ‘Old Kazakhstan.’

“Before our eyes, a monopolist, a private operator, is being created. The emergence of monopolies such as the UAS threatens the principles of a Fair Kazakhstan. Now everything is being done to break the financial system of Kazakhstan, recognized by experts as one of the best in Central Asia.”

The post Fintechs in Kazakhstan Raises Concerns Over Proposed Gambling Regulation appeared first on European Gaming Industry News.

Advertisement
Stake.com
Continue Reading

Asia

Chinese Embassy Urges Philippines to Ban POGOs

Published

on

chinese-embassy-urges-philippines-to-ban-pogos
Reading Time: < 1 minute

 

The Chinese Embassy in the Philippines has urged the Philippine government to ban its offshore gaming industry, claiming that the “vast majority” of Chinese citizens involved in their operations are victims.

In an official statement attributed to a spokesperson, the embassy also denied any involvement in the Philippine Offshore Gaming Operators (POGO) industry after uniforms of the Chinese People’s Liberation Army (PLA) and the Chinese People’s Armed Police Force were discovered during a raid on a POGO compound in Pampanga earlier this month.

“We appeal to the Philippines to ban POGO at an early date so as to root out this social ill. And we firmly oppose any baseless accusation and smearing against China in connection with POGO,” the statement said.

Advertisement
Stake.com

The statement went on to say, “Chinese law prohibits all forms of gambling. The Chinese government strictly cracks down on Chinese citizens engaging in gambling business abroad including POGO. Ample evidence shows that POGO breeds serious crimes such as kidnapping for ransom, human trafficking and murder. POGO is detrimental to both Philippine and Chinese interests and images as well as China-Philippines relations.

“In recent years, the Chinese and Philippine law enforcement agencies have maintained close communication and cooperation and conducted multiple joint operations to bring down cross-border gambling and telecom fraud. Since 2018, nearly 3000 Chinese citizens implicated in the cases have been repatriated with joint efforts of both sides. In the past year alone, China has assisted the Philippines in shutting down five POGO hubs and repatriated nearly 1000 Chinese citizens.

“The vast majority of the Chinese citizens involved in these cases are victims of the Philippine offshore gambling industry. The Chinese government is committed to protecting the legitimate rights and interests of Chinese citizens.”

The post Chinese Embassy Urges Philippines to Ban POGOs appeared first on European Gaming Industry News.

Advertisement
Stake.com
Continue Reading

Asia

Pronet Gaming Triumphs at SiGMA Asia

Published

on

pronet-gaming-triumphs-at-sigma-asia
Reading Time: 2 minutes

 

Pronet Gaming, an award-winning platform provider of full turnkey solutions, debuted at SiGMA Asia earlier this month with a stellar performance.

Held in Manila, Philippines, from 3 to 5 June at the SMX Convention Centre in Pasay City, the conference served as the perfect venue for Pronet Gaming to showcase its commitment to innovation, excellence and expansion in the vibrant Asian market.

Among the highlights of Pronet Gaming’s presence at SiGMA Asia was the “Best Multi-Channel Provider 2024” award that the company bagged at the SiGMA Asia Awards held on opening night. The recognition spoke volumes of Pronet Gaming’s unwavering dedication to delivering leading-edge solutions across multiple platforms, solidifying its position as a frontrunner in the iGaming industry.

Advertisement
Stake.com

In attendance were the Pronet Gaming team from both the London and Manila offices who gave an impressive showing, demonstrating the company’s global reach and commitment to providing unparalleled support to its partners. Their participation underlined Pronet Gaming’s mission to foster strong relationships and deliver tailored solutions to meet the unique needs of operators worldwide.

One of the standout attractions at the Pronet Gaming booth was the Spin-to-Win wheel, which captivated attendees and quickly emerged as a crowd favourite. With people queuing in droves for a chance to win exciting prizes, it proved to be thematic with Pronet Gaming’s ability to engage and delight audiences.

Alex Leese, CEO of Pronet Gaming, took the stage as a keynote speaker, participating in a fireside chat that offered valuable insights into the future of Asian iGaming businesses diversifying into other jurisdictions. More than galvanising Pronet Gaming’s thought leadership and deep understanding of the opportunities and challenges shaping the industry’s landscape, Leese spoke reassuringly of the giant strides his company has made toward setting up shop in Asia, as well as outlining a path to helping local Asian operators to expand their global reach into Europe & LATAM.

“One year ago, we were only at the ‘we will be in Asia, and we are on our way’ stage. As I speak here today, I am now proud to say that we have the office, we have the team, and we have the PAGCOR accreditation. Next time, I will be saying that we are established, with a much larger existing team, and operator clients on board. My aim is to be here again next year to say that we are well and truly on the ground,” Leese said.

SiGMA Asia provided an invaluable platform for Pronet Gaming to forge new connections and explore opportunities in the burgeoning Asian market. As the company gears up to launch its operations in Asia, the event served as a springboard for establishing strategic partnerships and fostering collaborations that will drive growth and success in the region.

Advertisement
Stake.com

The post Pronet Gaming Triumphs at SiGMA Asia appeared first on European Gaming Industry News.

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania