December 6, 2023
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India has witnessed a remarkable transformation in the world of digital gaming, with fantasy sports emerging as a standout performer. This once-modest pastime has now become a major player in the digital gaming arena. Let’s take a closer look at this exciting industry, which is not just about fun and games but also about big numbers and even bigger impacts.
During the Indian Premier League (IPL) in 2023, the fantasy sports industry hit a new high. Revenues soared by 24%, reaching over 28 billion rupees. This was not just about money; it was also about people getting involved, with more than 61 million users playing these games. The growth didn’t happen overnight. The pandemic played a big part, pushing people towards these games. And it’s not just cricket anymore; other sports are getting attention too.
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The fantasy gaming sector in India, particularly during IPL 2023, exhibited significant growth. Revenue surged by 24% over the previous year, hitting over 28 billion rupees. This increase coincided with over 61 million user engagements. Factors contributing to this growth include the pandemic, which spurred the industry’s expansion and diversified offerings beyond cricket. The IPL’s impact was substantial, contributing up to 50% of fantasy sports platform revenues. Recognized as games of skill, these platforms provide a legal alternative to betting in India. Over the past five IPL seasons, the market has seen a compound annual growth rate of 18% in cash users, with total revenues exceeding $1 billion. The latest IPL season alone attracted substantial advertising revenue, significantly benefiting the BCCI and related entities.
The Indian fantasy sports market, already burgeoning at INR 6,800 crore in FY22, is on track to surge to a staggering INR 25,240 crore by FY27. This 31% growth rate cements India’s position as the world’s fastest-growing fantasy sports market. This expansion is fueled by the emergence of over 300 fantasy sports platforms, engaging a colossal user base of 180 million individuals.
North India, with its rich sporting heritage and advanced technological infrastructure, leads this market. The proliferation of high-speed internet and smartphones has been instrumental in this region’s dominance. Other regions like West and Central India, South India, and East India, each contribute uniquely to the national fantasy sports landscape.
Fantasy sports in India have attracted INR 15,000 crore in FDI till FY22, a figure projected to climb to INR 25,000 crore by FY27. In terms of tax contributions, an impressive INR 4,500 crore has already been contributed, with expectations to reach around INR 26,000 crore in the next five years. The sector is a significant job creator, with 12,800 high-skill jobs and an anticipated 10,500 indirect job opportunities by FY27.
Cricket reigns supreme in the fantasy sports segment, followed closely by football, kabaddi, and basketball. The platforms are split between websites and increasingly popular mobile applications. Demographically, the market is predominantly occupied by the under-25 age group, followed by individuals aged 25-40.
Major events like the ICC Cricket World Cup act as catalysts, exponentially increasing user engagement and investment in fantasy sports platforms.
During the World Cup 2023, fantasy sports companies experienced a significant boost in user engagement. Most companies reported a 60% month-on-month increase in their active users, maintaining an active user base of over 400,000. This growth reflects the increasing popularity and engagement with fantasy sports platforms during major sporting events like the World Cup.
On November 19, the World Cup final between India and Australia was watched by a peak of nearly 59 million people on Disney+Hotstar, which streamed all the games in the event.
Advertisements were a big part of getting more people to use fantasy gaming sites during the World Cup, according to people who follow the business.
Fantasy sports platforms are instrumental in promoting non-cricket sports in India. A significant 69.8% of users have ventured into new sports arenas due to their engagement with fantasy sports. Financially, this sector invested INR 3,100 crore in sports development in FY22, with projections of reaching INR 6,500 crore by FY27.
Fantasy Sports as a Legal Alternative to Betting: In India, where betting is illegal, fantasy sports apps are promoted as “games of skill.” These platforms offer opportunities to win substantial cash prizes based on users’ knowledge of the game. This aspect has contributed significantly to their popularity and user engagement.
Fantasy sports in India are more than just a pastime. They’re a booming industry that’s reshaping how sports are enjoyed and engaged with. From creating thousands of jobs to pouring billions in foreign investment and taxes, this industry is a powerhouse. It’s not just cricket either; it’s opening doors to other sports, getting people excited about games they never followed before.
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Fantasy sports are here to stay in India. They’re not just games of skill; they’re a growing part of the country’s digital landscape, changing the way sports are watched, played, and enjoyed. With each big sports event, like the World Cup, more people are joining in, making this industry one to watch in the years to come.
For those who love cricket and are looking for an engaging way to participate in fantasy sports, Gamesys11 is an excellent platform to explore. With over 20,000 trusted users and more than 100 daily contests, Gamesys11 offers a secure and enjoyable platform for fantasy cricket. Play on Gamesys11
At Gamesys11, our team includes dedicated blog writers, who bring a wealth of cricket knowledge and experience to our content. From early cricket careers at divisional and district levels to deep dives into statistics and player insights, our writers are passionate about the sport. They specialize in crafting engaging blogs that explore team lineups, player statistics, and strategic predictions for upcoming contests, enhancing the experience for every cricket fan.
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