Fantasy Sports is one of the growing industries in India and it has taken rapid growth in the last couple of years. Since the launch of Dream11, so many fantasy platforms were launched and it changed the entire system of the sports industry.
The early phase of impact in India The biggest change came in cricket and It become a huge success. The impact of the fantasy sports game in India is huge and the even UK also accepts that India is going to be the biggest hub of fantasy in the future. UK started the trend of fantasy through their biggest sporting event Premier League and FPL set a big standard among football fans and even Indians connected with Premier League after playing FPL. This big growth gave the Indian market to big reason to boost fantasy in India and Dream11 was the first company to do it commercially. Later, Supreme Court also considered fantasy a game of skills. It has changed the perspective of fans towards the game and user base is increasing high each year. Pandemic and financial crisis are not putting stop alarm on fantasy sports. Impact of fantasy sports through numbers and revenue It has left a huge impact on sports and it’s a positive impact. We can understand this through some numbers based on the survey of the Federation of Indian Fantasy Sports (FIFS). According to the reports, 87% of users who engage in fantasy sports are involving more into depth analysis of the game and they’re investing more time into research and gathering information. Users are putting effort to plan the strategy while playing fantasy sports. It has also increased the viewership and over 48% of fantasy sports users watch every game and it doesn’t matter the match is irrespective of their favourite team or country. If they’re involving in any game, they will surely invest their time to stream this. This is the big reason Dream11 came up with the idea of Fan Code which streams so many matches, especially for fantasy users. In 2020, few matches were from Oman, Spain, and other countries which had no good relation with cricket. Growth of the market and revival of sports industry during the pandemic Even local competitions were started to gain attention through fantasy sports. Pro users don’t leave a single match and even in 2020, users explored other games such as Basketball and Baseball. Cricket was not happening during the covid so they invested their time in other sports. If we discuss the growth in the revenue of fantasy in the financial year of 2020, you will see a drastic change compared to previous years. It helped the sports industry to take part in the country’s economy. The gross revenue of fantasy sports stands at 2400 crores in 2020 compared to 920 crores in 2019. It means the revenue got triple in the previous year according to the FIFS-KPMG 2020 report. We know about the tax deduction which increased in last one year. Fantasy platforms deduct a specific tax amount from user’s winnings. The tax earnings deducted from winnings in 2020 reached to 250 crores, compared to 93 crores in the financial year of 2019. Building opportunities through fantasy sports Opportunities were also built due to fantasy sports platforms and those who had great knowledge about the game got jobs in the sports sector. The sports industry raised its revenue and values which helped sponsors and brands to invest more money into it. Content-based companies were formed and other startups were also launched to promote sports such as online scoring apps and websites, e-commerce section to sell merchandise and other sports stuff, online streaming platforms, etc. Companies are coming in large numbers to sell their produces through fantasy platforms. Don’t forget that Dream11 was the title sponsor of the Indian T20 League in the last season. Conclusion Fantasy sports platforms created a big impact in India and it will also help other games like Football, Basketball, and Kabaddi. The bigger user base, high revenue, and big reach of market value are the signs for a better future of the sports industry. The impact is going to be bigger and more than 30 crores users will watch online sports this year.
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January 2022
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