Fantasy Sports introduced in India about 19 years ago. But after 2016, it gained momentum and now the number of people playing it on websites or apps has reached 50 million around the country. In Fantasy Sports, users create their own virtual team on a mobile app or website and earn points. Users can also earn real cash by redeeming points. There are two types of models of fantasy sports in the gaming apps running in the country. First – free to play means no fee is required to play. Whereas the second – pay to play, in which money is taken as entry fees.
According to the report of the Indian Federation of Sports Gaming (IFSG), 25 crore people play online games in India. Of this 20% i.e. 5 crore users belong to fantasy sports. Fantasy Sports started in the US in 1952, but in India, it was started by ESPN-Star Sports in 2001. However, it was discontinued in 2003.
Fantasy sports users increased by 25 times:
According to IFSG, from June 2016 to February 2019, the number of players playing fantasy sports has increased 25 times. The number of players who played fantasy sports in June 2016 was just 20 lakhs which increased to more than 5 crores by February 2019. At the same time, their number is expected to be more than 120 million by 2021.
Online Gaming Companies Revenue Up by 116% in 4 Years:
The revenue of the gaming industry in the country has increased more than twice in the last four years. It is expected to grow nearly three times in the next 5 years. The revenue of the gaming industry and the fantasy sports industry in 2014 was 20.3 billion rupees. It increased by 116% to Rs 43.8 billion in 2018. Revenue is estimated at Rs 118.8 billion by 2023.