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Everybody knows what "Sports" are, but "Fantasy Sports" are different. The online fantasy sports app is a mobile application that allows users to create virtual teams based on their own real-life athletes. Depending on where you play, apps and platforms have different interfaces, rules, and rewards. Before starting a fantasy sports business in India, one must conduct a thorough analysis in order to clarify their mind.
Fantasy Sports Business Growth in India - Latiyal Infotech
There is a huge audience for every important match that takes place in India. A recent T20 world cup match between India and Pakistan, which was streamed by HOTSTAR, reached an all-time record of 18 million viewers online. With all this popularity growth for cricket, fantasy sports applications have seen a positive impact on the player base. Let's look at it in more detail now.
Over The Years, Fantasy Sports Have Grown And Evolved
Originally a niche platform in India, fantasy sports became popular alongside cricket's ever-growing fan base. The game, which was basically started in 1930 by a bunch of men rolling dice to predict match events, has developed over the years. With the advent of mobile apps, it has become a fully-fledged game where players meticulously put together virtual teams to compete against other players playing over the mobile app in order to win exclusive prizes and cash rewards which are determined by the platform on which they play.
The massive growth of Internet and smartphone users in India over the years is one of the main reasons for the surge in player base. Users of the Internet and smartphones were once a niche group, but they have rapidly developed along with technological advancements in India. In 2015 there were 14.9% of Internet users in India, but by 2022 it has grown to 47%, which is a massive increase over a 7-year period. The share of smartphones in the total Internet traffic will rise to 44% by 2022 from 18% in 2017. In 2022, Cisco expects there will be 829 million smartphone users, double what there were in 2017.
Top Sports To Consider For Your Fantasy Sports Business
In addition to cricket, there are other sports with a decent player base that contribute a decent portion of revenue to the fantasy sports industry in India. There are many sports that are played in India, such as football, kabaddi, basketball, hockey, tennis, etc. India's National Sport is hockey, so fantasy leagues involving hockey automatically draw attention. In India, football is the second most popular sport after Kabaddi, especially in Kerala, West Bengal, Goa, and Manipur. Due to these factors, Kolkata is considered the home of Indian football throughout the country.
Knowing about these things will help you in planning your fantasy sports business in India. Cricket is the safest and best bet for a profitable and safer fantasy business, but it is also important to know the market structure so that one can make an informed decision. Kabaddi is a sport well-known throughout the nation, following football and hockey. Although the player base is smaller than other big guns, it is still a respectable number by its standards. Fantasy sports in India should also be targeted at the right audience.
Top Sports in fantasy sports Challenges & Solutions
- Analyzing the Indian market to identify your target audience
- Using advertising to reach a large audience
- India's Business Growth And Sports Viewership
- Fantasy Sports Business Growth in India
- Fantasy Sports Market in India: Top Competitors
The industry-leading names in India are,
- Dream 11
- MPL - Mobile Premier League
- Cric Play
- MyTeam11
- Fancy 11
Also, read: How to Choose a Good Live Cricket Score App Development Company
Is This The Right Time To Start A Fantasy Sports Business In India?
It is possible that you have already reached the conclusion after all this time. Yes, of course! There is no better time to start a business than now since the industry is booming along with the country's technological and foreign direct investment growth. In starting a business, there is definitely a risk involved.
Getting a clear idea of the industry starts with learning all the ins and outs of it which you will receive in advance. Taking risks and doing something bold is what Elon Musk once said. The reward for the risk you take is definitely worth it, and whether you grab it or lose it depends on your progress
Also Read: How much does it cost to develop a sports betting app?
Is Fantasy Sports Business Legal In India?
Due to the increase in internet users, the gaming industry has experienced a paradigm shift with the advent of technology. As a result, online gaming platforms such as rummy, poker, and other new-age engagement platforms were created. In Indian culture, gambling has a deep-rooted history dating back to the time of the Mahabharata.
The term 'gambling' refers to the act of putting money at risk. According to section 12 of the Public Gaming Act, "games of mere skill" are not considered gambling. The 276th Law Commission report also recommends that skill-based games be exempted from gambling laws. There was, however, no specification made about whether fantasy games qualify as 'games of skill'.
As a global fan engagement tool, fantasy sports applications provide a platform for all fans to engage in their favorite sport with their friends and family.
The Supreme Court of India dismissed a challenge to this verdict as well. According to the Supreme Court in August 2021, the games require considerable skill and judgment, so they are legal. Users' knowledge, attention, and execution are crucial to the success of fantasy games.
At the end of the day, it's still ruled out as a Legal business, and that's all we can say for now.
Also, read: Must have features in APIs for Cricket Live score, Performance stats
Conclusion: Fantasy Sports Business – Challenges & Solutions
Now that we've covered these topics, you should have a clear understanding of what fantasy sports are and how the business is booming in India. It has been explained to you in ins and outs how and whether you can start a business based on it. Now you can either do it or decide the other way around. Is it time for you to make a decision?
Our team at Latiyal Infotech is ready to share its expertise with you to help you launch a successful fantasy sports business. Get started on your custom fantasy sports app development journey by contacting our consultants.
