Mumbai, July 21 -- While India's gaming industry continues to reel under the weight of retrospective GST claims, the Poker Sports League (PSL) seems to have carved a niche by staying away from real money formats.

Structured like a traditional sports league, with no betting, wagering, or entry fees, the Amit Burman-backed franchise tournament has turned profitable in its sixth season and is now aiming to reach Rs.50 crore in revenue by FY29, according to MSL.

In FY23, the company had a revenue of Rs.1.67 crore, which went up to Rs.3.41 crore in FY24 and Rs.7.03 crore in FY25.

The 28% goods and services tax (GST) on online gaming, levied on the full face value of deposits, often with retrospective effect, has crippled many real-money gam...