India is the world’s fastest-growing fantasy cricket market. The fantasy sports platforms are cashing in big with fantasy cricket apps on everyone’s top of the screen and in their minds. It is clocking 18 crores user base with over 300 fantasy sports companies battling in for the pie. Not the metros, but the Tier-II and Tier-III cities are recording 60% of the user transactions on online fantasy games platforms.
As per the joint study between Deloitte and FIFS, the Federation of Indian Fantasy Sports, India’s fantasy sports user base, is three times that of North America. The 20-year-old Indian fantasy sports industry generated revenue of 6.800 crores in FY’22 almost tripled from FY’20. Fantasy cricket platforms are the catalysts and Gamechanger for the Indian fantasy sports economy, which is merrily riding this growth wave with high revenue generated and added to India’s earnings.
The table below offers a quick glimpse of both revenue sides.
We have collated the data from a report by FIFS, the statutory regulatory body for fantasy sports in India, collaborating with the services firm Deloitte India.
|Direct revenue Generated||6800 crores|
|Paid in corporate tax & TDS between FY’18 & FY’22||1700 crores|
|Expected in corporate taxes and TDS between FY’23 & FY’27||11300 crores|
|Investment raised till FY’22||15000 crores|
|Indirect revenue generated in FY’22 covering cloud, fintech, and advertising||6200 crores|
|Expected FDI by the end of CY’24||25000 crores|
|GST contribution between FY’18 and FY’22||2800 crores|
|GST contribution between FY’23 and FY’27||14700 crores|
|Created high-skilled jobs||12800|
|The expected addition of high-skilled jobs by FY’27||7000|
|Invested through sponsorships in FY’22||3100 crores|
|Expected sponsorship revenue growth in FY’27||6500 crores|
For the benefit of the people new to fantasy sports, daily fantasy cricket India is a recent phenomenon popular among the millennials hooked up constantly to their smartphones.
On the fantasy cricket app, the users log in to their registered accounts using their fantasy cricket login credentials and create virtual teams with real-life players from the list of the playing 11 of a live match or tournament.
Daily fantasy cricket users can earn points by competing with other user-created teams based on the real-life performance and statistics of the players, and these points even get them real money.
Fantasy sports companies calculate the results after the match based on how the players performed in the live contest.
The number of people in India using fantasy sports has risen to 18 crores in FY’23, and the industry expects it to reach 50 crores by FY’27.
The industry expects revenue growth from 262 crores in FY’18 is at 25300 crores in Y’27. In FY’23, it is at 8900 crores. In FY’22, it closed at 6800 crores.
The following table represents the trajectory of Indian fantasy sports growth.
|Year/forecasted year||Revenue (in crores)|
The fantasy sports industry in India at a Glance
|Total Valuation of Fantasy Sports in India||75000 crores|
|Direct Jobs in FY22||5000|
|Indirect Jobs in FY22||7000|
|Start-ups funded by fantasy Sports Platforms (FSPs)||15+|
|Spent towards the growth of the sports ecosystem through sponsorships & partnerships with various sports leagues in FY’22||3100 crores|
|Expected contribution towards the development of sports through marketing and sponsorships for various sports leagues||6500 crores|
Fantasy sports have taken the top space on the screen and in the minds of Indian sports fans, especially with fantasy cricket. With cricketing tournaments underway, like T20 contests in India, which are speeding up and gaining momentum, the Indian fantasy sports companies expect a north leap on their user base. The question remains, if online fantasy game is legal, why not online betting?