Long earlier the rise of fantasy
sports in India, sports take in was simply restricted to passive
entertainment from the comfort of one’s lounge. Today, fantasy sports have
changed the way fans get through their favorite sport—passive viewers are now
active participants and this sort of gaming keeps them at the sting of their
seats. While cricket certainly has do well among fantasy sports in India
because of the mass popularity.
Market Overview
Fantasy sports may be a type of skill-based online sports
where a fan creates his/her own team comprising real-life players from upcoming
games. These virtual teams accumulate points supported by the particular
statistical performance of players during real-life matches and winners are
revealed accordingly.
According to a recent survey conducted by ‘Business of
Fantasy Sports’ and published by the Federation of Indian Fantasy Sports (FIFS)
and KPMG, sales of fantasy sports operators stood at Rs.2,400 crores (US$
340.47 million) in the year 2020 compared with Rs. ~920 crores (US$ 131.64
million) in the year 2019. The Indian fantasy sports industry is anticipated to
be worth US$ 3.7 billion by 2024, creating a large opportunity for brand new
entrants. The market has witnessed a huge 700% increase within the last 10
years within the number of fantasy sports operators and a 2,500% spike within the
number of fantasy sports users.
As the fantasy sports the industry is rapidly gaining critical mass and multiple operators are
emerging with different and unique business models and offerings, it's
imperative to possess an establishment to shape and monitor this fast-growing
industry. The Federation of Indian Fantasy Sports (FIFS), previously called the
Indian Federation of Sports Gaming (IFSG), was formed in 2017 to safeguard
consumer interest and make standard best practices for the fantasy sports
format within the country. The FIFS could be a self-regulatory body, which not
only ensures policy compliances but also works with key industry stakeholders
and policymakers to form a governance structure to support and growth of the fantasy sports industry and make the users trust this modern online game and bring them in confidence.
The Indian fantasy sports market has seen huge growth
because of digital infrastructure, rise in mobile internet subscribers,
favorable demographics and rising income, tech-savvy and aficionado sports
following Indian millennials, and increased investor interest in fantasy
sports. Also, the recent case laws have established fantasy sports as a game of
skill compared with illegal activities such as sports betting as Indian laws
prohibit the establishment and promotion of the game of luck or chance. This
factor has created viable conditions for the industry to flourish and be more
accessible and interesting for India’s sports fans.
Currently, the fantasy sports industry is at a nascent
stage, with numerous start-ups competing to draw in the country’s 800 million
sports viewers. This trend is probably going to persist as these companies
thrust into various sports leagues to draw in advertisers, customers, and
investors. but Indians’ unending love for sports, especially cricket, low-cost data plans, and high
penetration of mobile phones have made these start-ups a lucrative bet for
investors. Over the past five years, investors have almost 112 million USD into
India’s sports fantasy platforms.
Conclusion
An enormous opportunity is probably going to emerge for the
Indian game developer and publisher to capitalize.The launch of the
AatmaNirbhar Bharat Innovate Challenge by the Ministry of Electronics and data
Technology (MeitY) and NITI Aayog is predicted to deliver more advanced gaming apps within the market. This
initiative is probably going to boost the growth of the Indian mobile gaming
market in the future and enhance the sports revenue of India, which is slated
to be the most important revenue earner in the foreseeable future. the govt. is
creating a conducive ecosystem for Indian game developers by rationalizing the
proper market conditions and creating an appropriate policy framework so
investors make the foremost of this golden opportunity.
Furthermore, the success of domestic stakeholders, the exponential growth trajectory of the fantasy sports market, and it's potential
have now grabbed the interest of foreign investors after they have realized the
potential of fantasy cricket games in
India. Multiple overseas investors have already invested in various fantasy
sports platforms and also the rise in user engagement will likely keep this
momentum within the coming years.
Looking at the huge potential in the online gaming industry
Dragonfleet has launched the fantasy cricket game name On Field 11. Their unique features and
contests are going to attract a lot of users from all around the country.
For more
details follow us on Facebook and Instagram
No comments:
Post a Comment