Within the framework of SBC Digital India, representatives of the Indian fantasy sport market have discussed its current state, opportunities for further development, and its role as a competitor of traditional sports in betting.
During the pandemic, when the majority of sports events were postponed, fantasy sport started to be mentioned in betting news more often. Even those players who hadn’t been interested in this vertical before began to pay attention to it due to the lack of betting activity. India is also among those countries that see a considerable spike in interest in fantasy sport.
India’s online FS revenue hits record high
According to the data on 2020’s fantasy sport market revenue in India, the previous year was extremely successful for the sector. Obviously, the country experiences a surge in the number of players who are into fantasy sport.
The event speakers confirmed this information. Piyush Choudhary, Director of Business Development, South Asia, Sportradar, has said that fantasy sport is a billion-dollar industry as many people in India are involved in it nowadays. Mainly, it is a result of the COVID-19 pandemic. Mukul Anand, Head of Product at FanFight, has added that fantasy sport is still growing in India, although its booming has started in 2016 when the Internet connection has entered a new level in the country. More people started to use the Internet during this period, and it also reflected on the sector.
Speaking about the most popular types of fantasy sport, experts are equally of the opinion that cricket leads the market and is its major driver. However, it doesn’t mean that other sports don’t have opportunities for gaining popularity. Basketball and handball are the next ones to be introduced to the market soon.
The conference speakers have also considered fantasy sport for regulated sports betting. From the economic point of view, it is an interesting sector for investors. Both betting on cricket and internationally popular types of sports have great potential in the Indian fantasy sport market if it is regulated and transparent.
Discussing the future of the fantasy sport vertical in India, Rajesh D'Souza, Business Development, Data Sports Group, has said that, to make it more interesting for bettors, it is necessary to implement gamification, add more sports and events, and make platforms’ functionality as simple as possible. At the same time, the problem of instant payouts remains the most important for the industry. Betting awards settlements have a great significance, like in betting on traditional sports. Automated settlements, which ensure quicker payout processes, should be a key focus for operators.
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