In the next couple of years, it is estimated that fantasy sports will attract 10,000 crore rupees in foreign direct investment.. The gaming industry has grown significantly in the past two years and India had a gaming population of 510 million by the end of 2022.
After having an eventful year for the IPL T20 fantasy league in India, and for the overall online gaming industry, you should know the major trends that foster fantasy sports in India.
Revolutionary Growth of Fantasy Gaming Ecosystem
With the availability and affordability of the internet and smartphones in India, as well as increasing internet usage and technological advancements, Indians have developed a strong interest in fantasy sports. You might have heard about Artificial Intelligence technology integration in various sectors, and it has changed the way you see things in virtuality. Technology will be everywhere as AI is changing the world
Interactive gaming is another technology that lets you keep updated with your live sports actions while interacting with your fellow competitors. Also, for players, it’s a great way to engage with their fans personally and bring them together on one’s social network. Furthermore, the technology is inspiring beginners to learn and be involved with the industry and view fantasy sports as a community.
The gaming industry is continuously experimenting with technologies like AI, blockchain, augmented reality, and virtual reality, and that will further enhance the user experience with fantasy sports. These advancements have transformed the way sports enthusiasts engage with their favorite teams and players, offering them an immersive and interactive experience like never before. For instance, NBA money percentages can now be easily accessed through platforms
Emergence of New Fantasy Games
Skill-based games like fantasy cricket give users the real-world thrill of sporting events and participation of users is possible only in real time with an ongoing sports event. So, users form their own teams and engage in the event easily. As a result, the combination of skill and passion for online games has brought a large viewership for sports leagues like IPL, Pro Kabaddi League, etc., and it is how fantasy sports have emerged in India. Fantasy sports have seen rapid growth in the Indian gaming industry in recent years. So, the fantasy operators are introducing new games to maintain a perfect balance between demand and supply and contributing to boosting the fantasy gaming industry in India.
Celebrity Endorsements and Sponsorships
Increasing consumers’ purchase intentions is most effectively achieved through sports celebrities and sponsorships. It induces a different level of perceived brand authenticity. Hence, these fantasy sports operators are trying celebrity sponsorships which are faster to execute, smaller in scope, and significantly less expensive compared to traditional endorsement deals.
Raise in Investments
Fantasy sports have seen rapid growth in the Indian gaming industry in recent years.. Cricket, football, and kabaddi enthusiasts feel more connected and engaged with the game. As stated previously, the game’s popularity and the number of users is continuously growing with time due to its convenient access and various cash benefits. Thus, the sector has opened its doors worldwide for corporate giants to enter, invest, and reform the gaming industry in India. It aids in creating jobs for the people, especially for the tech-savvy young generation.
Research shows tier-3 cities in India witnessed a mobile gaming boom in 2021 and reported up to 170% more users compared to previous years. This means the Indian gaming market is expected to ascend faster and become a significant contributor worldwide.
As the gaming industry is evolving in India, fantasy sports like the IPL T20 fantasy league have been fortifying their existence nationally and internationally with their regular sporting fixtures. While fantasy cricket carries a special place in the hearts of all sporting fans in the country, involvement in other sports like hockey, football, and kabaddi is also harnessing improved traction. With constant popularity, technological advancements, and increased investments with higher revenue, the fantasy sports industry in India is at its peak of expansion.