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Business News/ Sports / Sports News/  Fantasy sports is fast gaining popularity
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Fantasy sports is fast gaining popularity

Fantasy sports are not like any other form of online gaming as it is dependent on actualities, seasonality and availability of real-time matches

Harsh Jain, CEO of Dream11 says 'we will keep working hard and are targeting to end the year with 100 million users.'Premium
Harsh Jain, CEO of Dream11 says 'we will keep working hard and are targeting to end the year with 100 million users.'

India is fast emerging as the destination for fantasy sports, propelled by the penetration of internet, adoption of smartphones, which is also seen to be contributing towards the growth of sports across the country.

Cricket continues to dominate the sports arena, but the emerging generation is fast developing interest in other sporting activities, including hockey, kabaddi, football, basketball, volleyball, and baseball. This growing interest in other sports can be attributed partly to fantasy sports, which resulted in bringing together many large brands and celebrities, said a white paper by Indiatech.

Fantasy sports are not like any other form of online gaming as it is dependent on actualities, seasonality and availability of real-time matches, which makes it a non-addictive form of play. This sets it distinctly apart from other forms that are perceived to be in the nature of gambling.

The Indian fantasy sports market has shown phenomenal growth. Gross revenues of online fantasy sports operators stood at 2,400 crore in FY20 compared to 920 crore in FY19, up almost three times year-on-year, according to the FIFS-KPMG 2020 report.

The white paper said Indian online fantasy sports platforms attracted considerable foreign investment. According to the FIFS report, between 2018 and 2019, the inflow of foreign investments has been to the tune of 1,500 crore.

The IPL continues to be the most popular league with platforms such as Dream11 and Mobile Premier League leveraging its popularity.

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Published: 09 Sep 2020, 11:14 PM IST
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