Indian Premier League (IPL) fever is on and millions of people watch and engage with the game every day. One industry that sees a jump in its activity is fantasy sports. In India, fantasy sports are one way of engaging with cricket. Today, the Indian fantasy sports arena has turned into an enormous phenomenon. Experts believe that this industry has a promising future. Here are a few facts about fantasy sports that every fantasy sports fan must know about.
India is considered to be one of the largest markets for fantasy sports. According to a report published by the Federation of Indian Fantasy Sports (FIFS) and KPMG called Business of Fantasy Sports, the gross revenue of fantasy sports operators stood at INR 2,400 Crore for the financial year 2020.
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Prominent fantasy sports brands such as Dream11, My11circle, Howzat, etc. have a user base of over 100 Million in total. This highlights the demand for fantasy sports in the country. Apart from cricket, fantasy sports platforms also cover sports such as kabaddi, football, hockey, rugby, etc. This thriving industry helps other sports also come to the fore.
Fantasy Sports has reportedly contributed around INR 13,500 Crore in taxes to the Indian government over the last five years. The industry played a significant role during this pandemic period too as people took a keen interest in fantasy sports as other sources of entertainment were not available. Fantasy Sports involves complete transparency. Every player can track their scores, points, and rankings.
As per news reports fantasy sports could also be seen as the stock market of sports. The analogy is reportedly drawn in the way that when you select stocks, you expect the money to multiply into more. It is the same with fantasy sports, as you are expected to choose players according to their performance in a particular match. Many people play fantasy sports to stay connected to the sport that they admire. Fantasy Sports is the next big thing globally as well as in India. This is the perfect month to get started on your journey as a fantasy sports player.