Are Fantasy Sports Gaining Momentum in Modern India?

The craze for fantasy games has tremendously increased in India since apps like Dream11 and My11circle have come up.

India has quite a large fan base for Fantasy Sports with over 13 crore users at present. The industry is rapidly skyrocketing and is expected to grow at a CAGR of 32 percent in the coming years. The Fantasy sports market is expected to grow from Rs 34,600 crore in 2021 to an estimated Rs 1.65 lakh crore by 2025 i.e. at a CAGR of 38%.

Reasons for Growth of Fantasy Sports in India

The key reason for this surge in growth is the increase of user-friendly fantasy sports platforms and digitization played a critical role too. In combination, a tech savvy youth, easy access to smartphones, deep penetration of sports in the society and affordable mobile data have all contributed to the rise of fantasy sports in India.

The industry is now generating revenues that nobody would have imagined. The sector has also seen a boom with foreign investors such as Tiger Global and Sequoia Capital backing up gaming startups Dream11 and Mobile Premier League, hugely popular for fantasy cricket.

A major reason has also been the recognition of fantasy sports as skill based games by the Indian government. As per the Indian Law, Fantasy Sports is permitted all over India except few states namely, Assam, Sikkim, Nagaland, Andhra Pradesh, Odisha, Telangana and Tamil Nadu.

However, now that the Indian government has seriously given a thought and constituted a panel to also consider new laws around online gaming in India,  it can be soon that things change for good. Many online gaming sites need regulatory certainty from the business point of view.

Another step to boost the business and enhance user experience the sports fantasy platforms have deployed a  dedicated customer service system that operates 24*7 to attend to the user’s needs. Also, many platforms are now offering withdrawal via wallets such as Paytm and Amazon Pay to ease users’ convenience for bill payments.

Which Fantasy Sports are Topping the Charts?

The most popular fantasy sports in India are outdoor sports, with cricket being the favourite again. the top. Apps like My11Circle are endorsed by MS Dhoni making it extremely popular for fantasy sports gaming.

However, other sports such as football and basketball have also found their fan base in the fantasy gaming arena. Recently local sports such as Kabaddi and hockey and also Women’s cricket are also gaining popularity among the fans. Whereas, Rummy remains the most popular skill-based card game.

Just like fantasy gaming platforms, many betting sites like Betway not only have their own Insider fantasy leagues but also offer a first deposit bonus when you sign up. If you are interested in finding more sites like Betway click here to read more about betting sites with deposit bonuses in India. You can always use this bonus either on your fantasy sports section or for betting on your favourite sports.

Future of Fantasy Sports in India

Considering all the factors and looking at the present scenario the future for Fantasy sports platforms seems really promising. India has witnessed unparalleled growth and widespread acceptance of Fantasy Sports  among the Indian youth.  Although the user and growth opportunities are endless there is a need to be cautious and make the field more legally regulated to avoid abuse like consumer addiction, money laundering and  financial risks.