Fantasy Sports In India - Industry Overview
Fantasy sports in India have gone through an eventful journey over the past few years. Even though it started from scratch, the industry quickly grew to a massive size. While Dream11 was among the pioneers of fantasy sports games in India and the first gaming startup to turn a unicorn, the industry has attracted several domestic and international players over the past few years.
The fantasy sports market in India had only 16 players operating in 2016. The number has crossed 150 in recent times. As a result, India is today the largest
fantasy market with 20 crore users. Unsurprisingly, cricket is the favourite sport for fantasy users in India. However, there are other sports like football, kabaddi and hockey that are growing at a fast pace.
Future of fantasy sports market in India
With a young population, a vast base of smartphone users, and a strong fan following for major sports, it can be expected that fantasy sports games in India will continue to grow in the coming years.
The Indian fantasy sports market is expected to grow at a rapid pace to touch Rs 1,65,000 crore by FY25 from Rs 34,600 crore
in FY21, registering a CAGR of 38%.
Reasons for fantasy sports growth
While many sectors were reeling during the onslaught of COVID-19, India's fantasy sports market continued to increase.
There are several reasons for the growth of fantasy gaming in India. The primary factors include easy-to-use mobile apps and fantasy sports websites. Increasing internet and smartphone penetration and the remarkable passion for popular sports among the masses also contribute to the growth of fantasy gaming.
Expected changes in the fantasy sports platform
The coming times are expected to be equally exciting for the industry and the users. Several state government have relaxed their rules, and platforms like Google have decided to list skill-based real-money fantasy sports games on Play Store.
Massive improvements can be expected in the gaming experience and the availability of options for users to participate in more fantasy sports. It is estimated that the fantasy sports games in India will register several more such changes to make it an open ecosystem for users in the country.
Significant trends in the fantasy sports industry
The major trends driving the fantasy sports industry are as follows:
Propelling sports cultureThe fantasy sports industry in India is propelling a sports culture beyond cricket. For Indian sports fans, cricket has been the default choice for many years. However, with the introduction of fantasy sports, users have started taking an active interest in other sports like hockey, kabaddi, and football.Growth from tier-2 and tier-3 citiesA large chunk of the growth of fantasy gaming in India has come from tier-2 and tier-3 cities. While it has led to increasing digital literacy in these cities, it has also pushed the use of smartphones and the internet.Rising InvestmentsThe private equity and venture capitalist investors have been investing in the success of the fantasy sports market in India. As a result, it has led to significant foreign direct investment and the creation of highly skilled jobs in the country.
With more and more leagues coming into the picture, this will surely boost the fantasy sports market in India.