According to reports, fantasy sports apps and websites added a humongous amount to the Indian sports economy in FY 2021. This number will boom in the next three years.
Niti Aayog has already stated that India will become a hub for fantasy sports.
The worth of online fantasy sports in India will be around $3.7 billion in 2024.
Harsh Jain, CEO, and co-founder of Dream Sports said at IAMAI’s IndiaDigital Summit 2022,
Fantasy Sports is showing that it can become one of the largest contributors to the economy, in terms of engagement, viewership and commercialisation.
He further added,
With fantasy sports, we’ve seen a drastic increase in the number of Indians participating in tier two and three cricket (tournaments) and sports outside of cricket, like Kabaddi, basketball, hockey, football, handball and volleyball. Since consumers have a chance to make a team and compete with people, they end up watching matches or parts of matches that they wouldn’t otherwise. This changes the engagement completely and leads to a drastic shift in sports engagement and viewership, which also leads to better commercialization of sports.
Relationship between Fantasy Sports and Live Sports
Fantasy sports share a win-win relationship with live sports. The audience joins these sports apps, make their playing XI of any sport, and even make predictions during the start, middle, or towards the end of the game. If their predictions turn out to be correct, they win a lot of money via the app. This makes them engaged with the sport that they’re watching, thus increasing the TRP of sports channels.
With the growing industry of fantasy sports, industry experts are of the opinion that this industry will see major growth among people in the coming years.
This, in turn, will strengthen the mission of “Atmanirbhar Bharat” in India.
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