Home »  News »  India »  Mumbai

Teen patti addicts pay real money to buy virtual currency

Tuesday, 1 July 2014 - 6:40am IST | Agency: dna
  • Teen Patti player Jay Raichura says he and his friends play the game at night and after winning the chips, they sell them to clients

The three-card game, which has become an addiction among Indians, has also turned into a part time business for many youth, as they sell virtual currency after accepting real money. With a major chunk of the business coming in from Gujarat, the clientele has increased considerably.

Teen Patti, the Indian card game, also known as flush or flash, has become popular with users installing it on their android devices. Users play an instant card game with a virtual dealer and earn chips during the game sessions. While the application developer Octro Inc officially sells the virtual money at a rate of $69.99 (Rs4,209) for Rs1 crore, the unofficial market rate for the youth starts from Rs750 for virtual money worth Rs1 crore.

"We have a group of around 15-20 college going friends, while the others are working for different firms. At night, they play teen patti and after winning the chips, they sell it to clients who approach them," said Jay Raichura, a teen patti player.

Another teen patti player, Pratik Jogi, said, "First, we create a private table with a high boot amount and start losing the games so as to transfer the virtual coins to the client, who later deposits the cash in our accounts. We sell it at the rate of Rs750 for Rs1 crore and the rates change according to the clients' demands."

With a large clientele based in Gujarat, the youth based in Ahmedabad contact many virtual currency sellers in Mumbai as the rates are much cheaper than the application the developer offers to the users.

"The demands have increased as the game has become more popular among all age groups, who are addicted to it. After losing, the user gets bored of playing the game on a low boot amount and less currency in hand. Since it is a legal business now, they buy the virtual money at a cheaper rate," said Ashish Suthar, a virtual money seller.

"I have been contacted by many Gujarat-based users and until now, I have sold over Rs50 crore. We have created a chain of virtual money sellers and often transfer the money mutually," said Suthar.




Jump to comments

RELATED