Is Fantasy Gaming The Future Of The Sports Industry?
With a total count of 13 crore users in India, the fantasy gaming set-up in India is worth INR 34,000 crore. Under the Real Money Gaming section, fantasy gaming took a massive toll after the 28% GST scenario in India. However, many believe that this is the end of RMG in India, but experts and several industrial pundits believe that RMG is too huge to collapse so easily.
Globally too, the Fantasy Sports industry has been witnessing healthy growth, with India being the fastest-growing Fantasy sports markets. A Deloitte report suggests that India has the largest user base at 13 crore, which is further expected to grow at a CAGR of 32 percent in the coming years.
Is Fantasy Gaming The Future Of The Sports Industry?
It won’t be an exaggeration to say that Fantasy Gaming could potentially be the future of the sports industry. And here are some reasons why:
Ease of participation
While people have been enjoying traditional sports cheering for their favourite athletes, understanding and deciphering the games and strategies, and even discussing their strategies with friends. There are several people in the world, who have an expertise in the game due to their interest but do not play the game. WIth the arrival of fantasy gaming, these people get to put their expertise and analysis to use.
Watching a sporting event is not just cheering anymore. Fantasy gaming has given fans the ability to be a part of the sport from their homes and even win rewards. Now that’s a win-win no sports fan can deny.
The growth and expansion
The above numbers are enough to prove how much fantasy gaming has been growing. And experts suggest that the growth is only going to increase manifold in the years to come. The global fantasy sports market is expected to reach $48.6 billion by 2027. This growth and expansion is largely driven by the advancement of technology. One of the most basic and smallest examples of this is the use of mobile phones and the penetration of the internet.
The rapid spike in the use and ownership of mobile phones in the last two decades is unreal. And the easy availability of the internet facilitates growth. Besides, today everyone is on a hunt to earn money easily and quickly, and fantasy gaming touches down on that very point. What better way to earn money by sitting in the comfort of your home, enjoying your favorite sport, and making use of your analysis, playing a game!
The popularity among youth
The biggest audience for fantasy gaming is the youth, i.e., people in their 20s and 30s. Having the younger section of the population interested in your offering itself is a big advantage for any industry. Fantasy gaming is attracting a lot of the young population and getting more and more of them into its realm.
Do we need to reiterate – the youth are the future of any nation. And if fantasy gaming has got the youth intrigued, it ain’t going anywhere anytime soon.
ALSO READ: What Is The Scope Of Fantasy Gaming In India?
High investments
More and more global companies and brands are realising the potential that fantasy gaming as a niche has. They realise that this is the right time for them to get their hands into the business and so they are. Over the recent past we have witnessed some massive investments happening in this space.
On the other hand, these fantasy gaming platforms are also investing tons into getting players by the way of advertisement and marketing. It’s in fact shocking now to not to see a fantasy gaming advertisement during any big sporting event. In the coming future fantasy gaming will have become synonymous with sporting tournaments and leagues, and there’s not stopping that.
There are several other reasons why fantasy gaming can be said to be the future of sports. It’s only a matter of time until even the regulatory bodies and government offices realize its importance and we will have centralized frameworks and legal regulations for fantasy gaming to operate just as traditional sports.
