Fantasy sports booms in India

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Name Nagma
Date Published October 23, 2020
Category Other Services
Country India
State Maharashtra
City Mumbai
Number of Visits 40

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The fantasy sports sector has grown exponentially in India over the past few years. As per the Federation of Indian Fantasy Sports, gross revenues rose up to 2,400 crore (US$326 million) for the 2020 fiscal year from the 920 crore (US$125 million) that was generated in 2019.

To put things in perspective, the number of fantasy sports users in India has risen from just 2 million in the year 2016 to more than 90 million in 2019.

Roland Landers, head of the All India Gaming Federation said: “Online skill gaming in India was already on a growth trajectory in the first half of the calendar year and the last quarter has witnessed a major spike in the business.”

Fantasy sports operators are turning into major players, with industry leader Dream11 winning the title sponsorship rights for the upcoming IPL tournament a testament to this fact. Moreover, Dream 11’s parent company recently raised US$225 million in its latest round of funding.

Ranjana Adhikari, a lawyer with legal firm Nishith Desai associates foresees the upcoming IPL tournament as a perfect platform for fantasy sports operators to come roaring back from the negative impact of the nationwide lockdown due to coronavirus.
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