In fantasy sports, players create a virtual team of real-life athletes and then score points by converting real-world statistics into fantasy points. Fantasy sports are online guessing games. The more fantasy points you receive, the better your player is performing in real life. Because you can only create your fantasy games team on the app before the live match starts, and unlike online gaming, fantasy sports cannot be played continuously, it is a non-addictive form of engagement. A game must include skill for it to be considered a game of skill, and success depends on the player’s merit. In contrast, a game of chance is characterized by a high degree of likelihood and chance, with the player’s merit playing little to no part.
Evidently, fantasy sports are dominating the global online gaming market. The popularity of fantasy sports has skyrocketed since cricket entered the aforementioned market, and we frequently see our favorite athletes supporting fantasy games applications. Famous athletes, including MS Dhoni and Virat Kohli, have partnered with legitimate sports leagues, including the IPL, Test Matches, and Kabaddi leagues, as their partners in fantasy sports games like Dream11, World777, Halaplay, 11 Wickets, Starpick, and Fantain.
This has significantly helped to retain the reputation of their websites and apps. Fantasy sports have undoubtedly gone a long way since they were a specialized industry and now sponsor the biggest T20 cricket tournament. They have transformed the online gaming experience so that players may now create their own teams, compete against other players, and engage actively rather than just as spectators.
Table of Contents
In the last ten years, the number of fantasy sports players in India has expanded by 700%, while the number of users has increased by 2500%. Fantasy cricket and fantasy kabaddi are only two of the sports entertainment options available in India. Fantasy games have also inspired a lot of interest in virtual gaming among Indian gamers due to their significant likelihood. The mandated lockdown imposed by Covid-19 also significantly and above-expectably stimulated the expansion of many businesses. Due to rules allowing for work from home, many people could now engage in additional leisure activities at home, including fantasy sports. When compared to the market size of Rs 920 crore (US$ 131.64 million) in 2019, the gross income generated by the fantasy games industry by FY2020 was 2,400 crores (US$ 340.47 million). This implies that the size tripled throughout the outbreak.
Fantasy sports in India
Sports enthusiasts have been introduced to sporting events that would not otherwise have garnered popularity in India thanks to fantasy games competitions. Fans are now following sports like kabaddi, hockey, women’s football, and cricket, and exposure to these events on FS platforms is changing their interest in sports and how often they watch it. However, live streaming capabilities and the accessibility of sporting content on both conventional and cutting-edge platforms have raised user participation on Fantasy sports sites even more. As a result, sustained fan involvement increases viewership and TRP, which in turn draws in more sponsors and fosters the growth of the sports industry as a whole.
Additionally, it is anticipated that improvements in athletic facilities and the popularity of leagues at the national level will fuel the expansion of the Indian FS business. Other important environmental variables that support this expansion include the growing digitalization of media, the simplification of digital payment systems, the rising use of low-cost smartphones, and large international expenditures in high-speed internet infrastructure.
In India, people who utilize fantasy sports the most tend to be between the ages of 25 and 40. Between 25 and 30 percent of the investments made to play these sports come from the participants’ own pockets. More than 70% of pay-to-play users earn more than 3 lakhs per year in income. Additionally, 75% of respondents said they play fantasy games three times per week, and 20% said they play more frequently than five times per week. Nearly 80% of respondents in the 18–24 and 25–36 age ranges were seen to play 1-3 times per week, but the 37–50 age range was seen to have much higher engagement. In the 37 to 50 age range, nearly 50% of respondents said they played fantasy games more than four times per week.
The Indian fantasy gaming industry has started to prosper amid the startup culture. Cricket-related sports have been shown to be the most well-liked among all sports in fantasy gaming. Following were basketball, football, kabaddi, and other sports. This graph displays the types of sports that players in India used online fantasy games platforms to play in 2019.
Competitive Analysis of Fantasy Gaming
In India, the number of businesses in the fantasy games industry is growing quickly. Up until 2016, there were approximately ten market participants in India. Since then, there are now 150 market participants overall. One of India’s most significant players in the fantasy sports industry is Dream 11, a founding member of the Federation of Indian Fantasy Sports (FIFS). And numerous of these individuals are listed among those successfully promoting independent industry expansion, like MyTeam 11, Rummy Circle, world777 and Fross.
- March 2022: With 13 Crore users, India overtakes the United States as the largest fantasy games market. Over the next four years, cricket will continue to expand at a 30 percent CAGR and will continue to contribute the most to the entire income of the fantasy sports market.
- For the Indian Premier League (IPL) 2022, EarnU, a cryptocurrency-friendly fantasy sports platform, joined the Indian market in March 2022.
- In FY21, Fantasy Sports contributed Rs 3,000 crore to the Indian sports sector.
- Fantasy Akhada is establishing itself in Tier II cities and beyond as of June 2022. Fantasy Akhada was one of the latest competitors to enter the fantasy market, but it has been effective in luring players outside of India’s major cities.
- My11Circle’s creator seeks US$75 million in April 2022 to create an Indian fantasy sports platform. Games24x7 offers daily fantasy games and has created a number of mobile games for the Indian market.
- In June 2022, Fan Clash, a two-year-old Indian firm, made an attempt to introduce esports to this fantasy sports environment, including sleeper hits like PUBG Mobile, COD, and DOTA 2. Investors claimed to have invested an additional $40 million in the firm and believed that this concept and the Fan Clash crew would deliver.