Active Stocks
Tue Mar 05 2024 09:31:05
  1. Tata Motors share price
  2. 1,029.55 4.29%
  1. Tata Steel share price
  2. 153.60 0.33%
  1. NTPC share price
  2. 355.80 0.57%
  1. Power Grid Corporation Of India share price
  2. 292.40 -0.70%
  1. State Bank Of India share price
  2. 777.30 0.67%
Business News/ Industry / India tops fantasy sports market
BackBack

India tops fantasy sports market

India boasts around 300 fantasy sports platforms and 18 crore users, making it the fastest growing market worldwide, with a user base nearly triple that of North America

Indian fantasy sports users in FY22 were predominantly young, with 40% aged between 25 and 34.Premium
Indian fantasy sports users in FY22 were predominantly young, with 40% aged between 25 and 34.

India’s fantasy sports industry, which has been growing over the last six years, is estimated to have invested 3,100 crore in real-world sports via sponsorships and partnerships with sporting leagues, and is expected to make a cumulative contribution of 29,000 crore to the overall sports economy between FY22 and FY27.

A Deloitte India and Federation of Indian Fantasy Sports report, titled Fantasy Sports: A Catalyst for the Sports Economy’, said India has emerged as the fastest growing market in the world, with over 300 fantasy sports platforms having a user base of over 180 million, or almost three times the size of North America.

In FY22, revenues of fantasy sports firms almost tripled in two years to 6,800 crore, and 31% over FY21. It is expected to grow at compound annual rate of 30% over the next five years to 25,300 crore in FY27, the report added.

The industry’s growth can be attributed to a combination of infrastructural and market-led factors. Currently, there are 692 million active internet users. It is expected to increase to 900 million by 2025.

The report said the industry paid about 4,500 crore to the exchequer in taxes in FY18-22. It also attracted steady investments, with both domestic and foreign funding adding up to 15,000 crore till FY22, valuing the overall sector at about 75,000 crore.

Furthermore, the industry generated indirect revenues of 6,200 crore in this period, and created 12,000 direct and indirect jobs by FY22-end.

The Indian users of fantasy sports in FY22 was young and 40% of them were in the 25-34 age group, evenly split across metros and non-metros, and were predominantly male.

The fantasy sports user base has about 40% users participating more than once a week with only 20% registering for paid contests and about 60% of all transactions are from tier 2 and 3 towns.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

ABOUT THE AUTHOR
Varuni Khosla
Varuni Khosla is a journalist with close to 14 years of experience in writing business news stories for mainstream newspaper companies like Mint and The Economic Times. She reports and writes on luxury and lifestyle brands, hospitality and tourism news, the business of sports, the business of advertising and marketing and alcohol brands.
Catch all the Industry News, Banking News and Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
More Less
Published: 18 Apr 2023, 01:43 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App