India the world’s biggest fantasy sports market: Report

According to a report by the Federation of Indian Fantasy Sports (FIFS) in alliance with Deloitte, India is the world’s largest fantasy sports demand with a user base of over 13 crore.

India’s fantasy sports market is estimated to expand from Rs 34,600 crore in FY21 to approximately Rs 1,65,000 crore by FY25, clocking a CAGR of 38 percent.

According to a report by the Federation of Indian Fantasy Sports (FIFS) in alliance with Deloitte, India is the world’s largest fantasy sports demand with a user base of over 13 crore.

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The report announced that the total revenue attributable to the fantasy sports business is Rs 10,700 crore, comprising of Rs 5,500 crore indirect revenue in FY21 through its vendors and service providers.

Cricket will proceed to grow at 30 percent CAGR over the next four years and continue to be the highest contributor to the overall revenue of the fantasy sports business. One of the key cricketing properties, the Indian Premier League (IPL), was a large contributor last year in the extension of users in the fantasy sports space. During Phase 1 of the 2021 edition of IPL, the fantasy sports business consumer base in India developed by over 20 lakh users.

While cricket will continue to be the leading sport on fantasy sports platforms (FSP), it is inclined to see its share going to other sports such as kabaddi, hockey, football and volleyball which are rising in popularity.

When it appears to users in the fantasy sports space, it is measured that close to 30 percent of the registered user base for FSPs in India is female users, a number that is predicted to consistently increase in the next few years, the report announced. Globally the fantasy sports user base has been male overseen with men accounting for 67 percent of the total income.

In addition, 50 percent of user pacts on the fantasy sports platforms come in through tier 2 and tier 3 cities.

“Fantasy sports business is earning huge economic inroads into India’s widespread development and growth in multiple ways – creating highly skilled businesses, attracting foreign direct investment (FDI) and developing significant revenue for the exchequer. Besides, it is also propelling the sporting community and delivering a boost to non-cricket sports as people tend to hone awareness to participate in fantasy sports contests,” announced FIFS chief executive officer Anwar Shirpurwala.