Recent months have seen numerous fantasy sports platforms emerging in India. Though Dream11 is by far the biggest fantasy sports provider in the country, these new companies are trying to grab a piece of the ever-growing pie.
One of those new fantasy sports providers is Scoring11 and they made news recently by acquiring investment from Sports Gaming UK, the parent company of the Mumbai-based India Bet. The deal will give Sports Gaming UK about 20% shares of PlaySafe Games, parent of Scoring11. The remaining 80% of shares will be held by India Bet Head of Operations and Scoring11 CEO Harshit Mehta.
Scoring11 has also signed a licensing agreement with the Norwegian-based B2B fantasy sports provider Scout Gaming which will provide the former with a white-label platform and software on which Scoring11 will be based. A white-label product/platform is something that one company produces, usually a B2B, and their clients rebrand it according to their requirements.
Mehta commented on this development saying, “We see how Fantasy Sports has a strong growth in the country. With players like Dream11 who are extremely popular at the forefront, we have explored the possibilities of expanding our value chain to operator business focusing exclusively on fantasy sports.
He added “After that scan of the market, Scout Gaming came across as the most competitive player, having established a global liquidity network with access to both popular local sports such as Cricket and Kabaddi, but also international leagues such as Premier League are something we believe will be winning in the long run.”
As soon as the agreement with Scout Gaming comes into effect, Scoring11 will be India’s 3rd fantasy website that will use the former’s white label solution. One of those three include StarPick, promoted by Trigam Mukherjee, aide of Rajya Sabha MP Rajeev Chandrasekhar. Chandrasekhar is also the largest investor of the ultra-right-wing news channel Republic TV.
Andreas Ternstrom, CEO of Scout Gaming, also commented on the deal saying, “This is the third customer agreement we sign where the counter-party is expected to have a significant presence in the Indian market that is growing strongly. Cricket is a huge sport locally and I am excited about continuing to grow the liquidity network we have established. Further on this means larger prize pools and a more attractive product.”
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