What is Fantasy Sports?
Have you heard of Fantasy Sports? Millions of people play it every day. Although it is popular, there is always someone in your room or in your circle of friends who has no idea what it is or how it works. If you think it’s an extension of real athletic events, then you’re right.
More precisely, it goes somewhere in the direction of the selection of virtual players, the formation of a team, participation in games, then the judgment of these players on their performance, both in the virtual sphere and in the real world that friends They have been playing with each other to pass the time. It has now grown into a business with an average net worth of $ 20 billion or more. Sponsors and business partners in real-world sports were also interested in the business.
In 2015, Think Investments, Multiples Equity & Tencent are the marquee investors in Dream11, a large fantasy sports company.
There are several reasons which can be responsible for people getting maniac for fantasy sport.
- One of the major thread of love for fantasy sport in India ls Indians love to socialize and connect with other people,
- India has the 2nd highest number of internet users after China.
- India has major youth compared to other countries and the report is submitted by the United Nations.
- There are 356 million young people in India of age between 10-24 years. Young people are more into playing an online game.
- The number of smartphone users in India is estimated to reach 299.24 million by the year 2022.
- ICC research: More than 1 billion cricket fans globally and 90% contribution is of Indians.
- With this youth wants to explore many earning options using fantasy gaming.
How do fantasy sports works?
One can choose his favourite players from an online selection process and make one’s fantasy team. The players’ real statistics are compiled and compare to see whose fantasy team has done the best.
Players track how their fantasy team is doing various websites and mobile apps. Some players join a league with friends and compete against only people they know. Others join public leagues hosted by websites and compete against strangers.
Who can Play?
In North America more than 60 million people play fantasy games. About 10 million of those players are teenagers. About 19% of adult men play fantasy sports, compared to 9% of women, according to estimates STATS Inc. And wealthier fans are more likely to play: 16% of people with incomes of $50,000 or more play fantasy sports, while only 10% people who earn less than $50,000 participate. A total of $18 billion ls spent on fantasy sports annually. By comparison, $140 billion Is wagered on real sports and $70 billion ls spend on lotteries.
Some statistics of Fantasy sports:
- Sports started in the USA in 1952. today there are over 200+ operators with 15.3 million users (21% of US population) 65% of the male sports fans in USA Play fantasy Sports.
- In India, fantasy sports started by ESPN Star Sport in the year 2001 (super selector), but it was shut down in 2003.
- Rapid growth in India in the last 2 years from 2 million users in 2016 to 20 million in 2018.
- 300 project fantasy sports users by 2020 are a hundred million, 30% of online sports fans in India.
- 2 out of 3 or 67% of online sportsmen in India a pair of fantasy Sports.
- engagement wise users spend 42 minutes a day on fantasy sports applications.
- More than 90% of the users play fantasy sports at least once a month.
- Out of the users who have ever played fantasy sports and 6% percent of them have played it at least once in the past 1 year.
- With 21 million fantasy sports users, India quickly catching up with western countries.
source IFSG – AC Nielsen report
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