Fantasy Sports has a huge potential in India
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- Published date: April 29, 2021
- Pune, Maharashtra, India [ Ad Id - 128471 | Ad Views - 8 ]
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
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.
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 its 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.
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