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MyTeam11’s game-changing moves amidst taxation headwinds for real-money gaming: Vinit Godara
Mumbai: The Real Money Gaming (RMG) industry in India has brought about a revolutionary transformation in the world of sports. While allowing sports enthusiasts to engage with their favourite teams and athletes like never before, they have also brought in a wide variety of newer audiences, thereby generating huge additional revenue for both the sport and the sportsperson. India’s exhilarating performance at the recently concluded ICC Cricket World Cup 2023 led to a 40 per cent surge in user engagement on the MyTeam11 platform alone.
A report by Delloite FIFS highlighted the RMG industry’s potential to create over 5,000 direct and 7,000 indirect jobs. Quite the contrary however, as the GST council notification which came into effect on October 01, 2023, imposing the highest 28 per cent Goods and Services Tax (GST) on the deposits, whether one of skill or chance, acted as a huge setback. We believe no industry has ever faced a situation where tax liabilities have headed north to the extent of 400-1000 per cent in one go.
Be that as it may, MyTeam11 has always believed in thinking innovatively and out of the box to circumvent business challenges. Positive thinking often helps resolve the most difficult of problems.
The company absorbed the entire tax liability, choosing not to pass it on to the users. This showcased the platform’s dedication to provide an enjoyable and uninterrupted experience to fantasy sports enthusiasts, as also towards contributing to the overall growth of the industry.
Then from a long-term sustainability perspective, MyTeam11 came up with the real game-changer- the Fantasy Sports Network (FSN). As the industry navigated through challenges such as layoffs and closures, MyTeam11’s FSN emerged as a lifeline, particularly for the smaller players.
Operating both B2C and B2B models, the FSN provided a robust technology backbone that empowered emerging players to overcome the complexities posed by the new tax regulations. As a result, as many as 10 FSN partners today have experienced a significant reduction in their operational costs and also a remarkable 300 per cent increase in user engagement.
The true advantage of FSN lies in empowering partners and enabling them to focus extensively on marketing and promotion. This exposure extends to larger leagues, allowing them to operate efficiently with lean teams and effectively navigate challenges brought by the new GST Amendment.
There is no doubt that the industry is facing huge uncertainties. However, given MyTeam11’s spirit of innovation, the platform remains committed to driving positive change to maintain its leadership position in the RMG industry.
NEW DELHI: Hamdard Laboratories gathered a cross-section of India’s achievers in New Delhi on Friday, handing out the Hakeem Abdul Hameed Excellence Awards to figures who have left their mark across healthcare, education, sport, public service and the arts.
The ceremony, attended by minister of state for defence Sanjay Seth and senior officials from the ministry of Ayush, celebrated individuals whose work blends professional success with a sense of public purpose. It was as much a roll call of achievement as it was a reminder that influence is not measured only in profits or podiums, but in people reached and lives improved.
Among the headline awardees was Alakh Pandey, founder and chief executive of PhysicsWallah, recognised for turning affordable digital learning into a mass movement. On the sporting front, Arjuna Awardee and kabaddi player Sakshi Puniya was honoured for her contribution to the game and for pushing women’s participation onto bigger stages.
The cultural spotlight fell on veteran lyricist and poet Santosh Anand, whose songs have echoed across generations of Hindi cinema. At 97, Anand accepted the honour with characteristic humility, reflecting on a life shaped by perseverance and hope.
Healthcare honours spanned both modern and traditional systems. Manoj N. Nesari was recognised for strengthening Ayurveda’s place in national and global health frameworks. Padma shri Mohammed Abdul Waheed was honoured for his research-backed work in Unani medicine, while padma shri Mohsin Wali received recognition for his long-standing contribution to patient-centred care.
Education and social development also featured prominently. Padma shri Zahir Ishaq Kazi was honoured for decades of work in education, while former Meghalaya superintendent of Police T. C. Chacko was recognised for public service. Goonj founder Anshu Gupta received an award for his dignity-centred rural development initiatives, and the Hunar Shakti Foundation was honoured for empowering women and young girls through skill development.
The Lifetime Achievement Award went to former IAS officer Shailaja Chandra for her long career in public healthcare and governance, particularly in the traditional systems under Ayush.
Speaking at the event, Hamdard chairman Abdul Majeed said the awards were a tribute to those who combine excellence with empathy. “These awardees reflect Hakeem Sahib’s belief that healthcare, education and public service must ultimately serve humanity,” he said.
Minister Seth struck a forward-looking note, saying India’s young population gives the country a unique opportunity to become a global destination for learning, health and wellness by 2047.
The ceremony also featured the trailer launch of Unani Ki Kahaani, an upcoming documentary starring actor Jim Sarbh, set to premiere on Discovery on 11 February.
Instituted in memory of Unani scholar and educationist Hakeem Abdul Hameed, the awards have grown into a national platform that celebrates those building a more inclusive and resilient India. For one evening at least, the spotlight was not just on success, but on service with substance.
