The solid client interest and utilization over India’s fantasy sports platforms, combined with ideal court decisions for Dream11’s format being perceived as a game of skill, has resulted in a quick multiplication of OFS platforms in India.
‘The Business Of Fantasy Sports’ study by the Federation of Indian Fantasy Sports (FIFS) in association with KPMG, featured that as of December 2019, the client base for OFS in India was 90 million, indicating a growth of over 212% CAGR between 2016-19. The client base as of June 2016 remained at 2,000,000 clients. Online fantasy sports (OFS) have produced an income of Rs 924 crore in FY19 developing from Rs 262 crore in FY18, this was evaluated to almost triple to Rs 2,500 crore by FY20. Smartphones have gotten the essential mode for clients to participate in fantasy sports in India.
The study underlined that the OFS market is probably going to fuel content for different methods of online game commitment, for example, OTT can use on the developing prominence of OFS. Its study is ready to gain traction, as the market develops, users are probably going to select paid assets to get bit more knowledge, tips and forecasts to make educated decisions in the game of skills. It included that currently, near 15-20 percent of the active clients on OFS platforms are paid-clients, which is significant given the relatively younger vintage of the business when compared to other digital businesses.
The quantity of OFS operators has expanded from 10 in 2016 to more than 140 out of 2019. The demand side draws, expansion into moderately underpenetrated geographies and the launching of newer sports leagues will keep on guaranteeing new client procurement across fantasy sports platforms for the coming future. The study additionally included that there is solid potential for opportunities in fantasy sports training services to upskill the quickly developing OFS client base.
Following the set-up of created markets, fantasy sports insurance in India for OFS clients is probably going to rise and create as an autonomous industry. With the prominence of fantasy sports across various game types, the insurance providers have modified arrangements to suit the sort of groups.