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Fantasy Sports

How is Fantasy Sports Growing in India? All you Need to Know

written by BR Softech | Nov 08, 2022
What is Daily Fantasy Sports Business?

Are you also a fantasy sports enthusiast? Fantasy sports is an online gaming platform where users can create a virtual team of professional players. It is a very promising and lucrative industry with massive revenue potential. The craze of Fantasy Sports in India escalated during the pandemic. India has the biggest fantasy sports market with over 13 million users. Cricket is the dominant fantasy sport in India followed by Basketball and Football. 

Local sports like Hockey and Kabaddi are also gaining a lot of popularity in Fantasy sports apps. One of the major reasons for the popularity of fantasy sports in India is increased smartphone penetration and country-wide internet connectivity. Fantasy sports are majorly played on handheld devices like smartphones and tablets. The accessibility of smartphones has allowed users to access fantasy sports from anywhere in the world. 

Fantasy sports app development is also becoming increasingly popular. As the craze for fantasy sports is increasing, investors are trying to get involved in this lucrative industry by developing their own fantasy sports applications.

What are Fantasy Sports?

Fantasy sport is a sort of online game where players have to form virtual teams by selecting real-world players. You will make a game score depending on the real-life states of the players. The better your players perform in real-world matches, the better score you will get. 

The process to create a virtual team in a fantasy sports application is quite straightforward. You have to select the players who you think will perform best in the actual game. After that, sit back and see the performance of the chosen players in the match. If the selected players do perform as you have predicted, then you will win handsome rewards that can be further converted into actual money. 

Market Overview of Fantasy Sports in India

The fantasy sports market is booming right now. India is the biggest market in the world for fantasy sports. The popularity of fantasy sports is also increasing in the United States. 

  • According to Statista, the Indian fantasy sports market is estimated to be worth over Rs.20 billion in the year 2021. The estimated value of the market is expected to reach over Rs.50 billion in the year 2025. 
  • In 2021, cricket was the most dominant fantasy sport in the Indian market generating over 85% of the total revenue. Hockey and football followed behind cricket with a market share of about 6.3% and 6.7% respectively. 
  • Cricket had the highest share of registered users measuring over 77%. Football was second with over 48% while other sports like kabaddi and basketball amounted to less than 10%. 
  • The market size of the United States fantasy sports sector amounted to over $8.8 billion in the year 2021. 

Factors Influencing the Growth of Fantasy Sports

The popularity of fantasy sports games is surging and it is not without reason. There are various factors that help in the growth of fantasy sports. The future of fantasy sports looks promising and these factors are the driving force behind its success. India recorded a staggering 700% rise in fantasy sports games in the past decade. These factors are the major reasons why fantasy sports platforms are becoming increasingly popular. 

Smartphone Penetration

The popularity of Fantasy sports in India is directly linked to increased smartphone penetration among the masses. The past decade saw a technological revolution in India, now you can see a smartphone in everyone’s hands. With increased smartphone penetration and affordable internet connectivity, the country has shown a strong preference for fantasy sports platforms. 

Widespread Internet Connectivity

India is on the path to development and increased internet access even in the remotest areas have digitized various aspects of our life. It is also a major driving force behind the popularity of fantasy sports in India. The sheer number of smartphone and internet users in India is staggering. According to Statista, over 94% of online games are played on handheld devices like smartphones. 

Multiplayer Support

Gaming is no longer considered an isolated activity. Social gaming is now very sought-after by online gamers. The ability to interact with your friends and family while in the middle of the game is very convenient. Fantasy sports apps fulfill this requirement as they provide a live chat feature that provides a next-level multiplayer gaming experience. 

Play-to-Earn

The play-to-earn feature is the most essential factor contributing to the growth of fantasy sports all around the world. The play-to-earn feature allows gamers to earn real money by playing fantasy sports. This feature is appealing to the majority of the audience as more and more players are earning profits through fantasy sports apps. Students and youngsters even use these platforms to get some additional pocket money. 

Read More: How to Develop A Fantasy Cricket App? – A Step-by-Step Guide

The rise in popularity of fantasy sports has given birth to many new fantasy platforms in the market. Thus, here we have compiled a list of the most popular fantasy sports that are worth a try. 

Popular Fantasy Sports Apps

Dream 11

Dream 11 is arguably one of the most celebrated fantasy sports platforms by players in the market. This fantasy sports application provides a variety of sports, including cricket, football, baseball, kabaddi, hockey, and so many others. The user-friendly interface of the Dream 11 application is quite straightforward, even novice players can get familiar with the interface within minutes. 

MPL 

Mobile Premier League (MPL) is among the most favourable multigaming app platforms . On this platform, players can play over 60 games including cricket, football, basketball, baseball, and so many others to help players earn more. Also, the application facilitates withdrawing the winning amount in a bank account, Paytm wallet, UPI, and Amazon Pay. 

ESPN Fantasy Sports

It is the most popular fantasy sports platform in the United States. It provides a wide selection of sports including basketball, football, baseball, and hockey. Users can create their own leagues and there are a ton of customization options so you can add a personalized touch to your team. Predict the winner is an exciting feature that lets users win big cash prizes as well as stay updated with the latest news in the sports industry. 

FanDuel

The most attractive feature of FanDuel is its generous welcome bonus. Sign up for free, bet up to $500 and if you lose you will get a refund back. The generous offer is what attracts players towards FanDuel. Apart from this, it features an easy-to-use user interface and includes all the major fantasy sports. 

My11 Circle

My11 Circle is the fastest-growing fantasy sports application in India. The application is an ideal choice for cricket and football fantasy lovers. Over 10 million users are registered on My11 Circle. The application provides a safe and secure environment where players can enhance their skills and earn handsome rewards. 

Read More: Scope of Fantasy Sports Business in the Years 2022-2023

Future of Fantasy Sports Platforms

The future of the fantasy sports sector looks promising. However, there are certain changes that are to be expected in the fantasy sports platforms to enhance user experience. 

Lenient State Laws

As of now, fantasy sports are banned in several Indian states including Assam, Karnataka, Orissa, etc. A major future change that is expected is to permit the use of fantasy sports in various Indian states. These states don’t consider fantasy sports a skill-based activity and have thus banned the practice. Even with the ban, India is still the biggest market in the world. Just imagine the possibilities if other states also permit the use of fantasy sports. 

Cryptocurrency Integration

Fantasy sports platforms are integrating cryptocurrency support into their platforms. Many platforms have already started to accept crypto payments. Some fantasy sports platforms even offer generous exciting offers on crypto deposits. There is no doubt that these platforms are encouraging the use of cryptocurrencies. In the near future, cryptocurrency could become the primary currency of fantasy sports applications and replace fiat currencies. 

Read More: How to Start an eSports Business? A Complete Guide

eSports and Fantasy Sports

Fantasy sports applications are trying to incorporate eSports into their platforms. Much like fantasy sports where users draft a team for professional sports, eSports will allow users to draft a team with professional eSports players. E-sports is quite popular all across the globe including India. Video games like League of Legends, DOTA2, Valorant, and CS:GO platform have a massive fan following and with the introduction of an E-sports section in fantasy sports platforms, the user base is sure to increase. 

Conclusion

Fantasy sports is a massive and popular sector that includes users of all age groups. The popularity of fantasy sports in India is showing no signs of slowing down. Furthermore, technological advancements will open up a ton of new possibilities for the fantasy sports sector.  Fantasy sports is already massively popular and we expect it to grow and attract a wider range of audience in the upcoming years. 
If you’re looking for fantasy sports software development services, BR Softech offers white-label and customized solutions for fantasy sports platforms. Our fantasy sports applications are feature packed and will help you attract a larger audience and stand out in the market.

Frequently Asked Questions(FAQs)

Q. Is it profitable to invest in the online fantasy sports business?

Yes, the future of the fantasy sports business seems promising. More people are flocking towards the fantasy sports sector and it shows a massive revenue potential.

Q. What is the cost of developing a fantasy sports application?

 The development cost of a fantasy sports application is affected by various factors. On average, the development cost ranges from $10,000 to $50,000. Read more 

Q. Can I make real money by playing online fantasy sports?

Yes, online fantasy sports platforms allow users to play for real money. Users draft a team and if they win the league or tournament, they are awarded points which can be cashed out.

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BR Softech

BR Softech PVT LTD - an Award-winning Company that delivers Mobile gaming app & software development. Its thesis is to work with hard-bit and get the best Exposure. We are armed with 180+ geeks & 2753 clients worldwide.

About Us

BR Softech Pvt. Ltd. excels in providing cost-effective IT Solutions. Established in August 2012 with over 10+ years of rich experience. An Apex rated IT serving company around the world. Our team of innovative and creative designers deals in web designing, and mobile game/software development intending to deliver outstanding digital outcomes.

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