The IPL season of 2013 saw a great surge in fantasy gaming revenue. It reached an amazing Rs. 2800 crore in revenue, as per Redseer’s analysis. As compared to 2022’s revenue of around Rs. 2250 crore, there is an increase of 24%.
There is an overwhelming participation of around 61 million users, which also emphasizes the increasing popularity of fantasy gaming. With an impressive compound annual growth rate of around 30% since 2019, the industry’s increasing trajectory shows a sign of only going up.
Is it a skill or luck? An everlasting debate on fantasy gaming
The increasing popularity of fantasy gaming has reignited the debate about whether it is a skill or luck. Many advocates debate that fantasy sports need some kind of knowledge, expertise, and strategic thinking. It is essential to analyze as well as develop winning strategies. This is done while aligning them with the provisions that are outlined in Article 19(1)(g) of the Indian Constitution.
It is believed that fantasy gaming success is dependent on skill and strong decision-making abilities.
However, critics believe that it is a kind of betting that is prohibited in India. Also, they raise concerns about the risks associated with gambling-like behavior. The everlasting discussions about the legal status of fantasy gaming add difficulty to the regulatory framework of this industry.
Fantasy Gaming: Its Future in India
The unbelievable growth of various fantasy gaming platforms shows the promising prospects for this industry. According to analysts, there is going to be another 30–35% increase in gross gaming revenue. It is because of the IPL tournaments, which cost around Rs. 2900 to Rs. 3100 crore in 2023.
Also, the average revenue per user is expected to increase. It indicates that user engagement as well as monetization opportunities are also going to increase.
In a separate analysis, Redseer made a statement saying a total of Rs. 10, 000 crore was spent on the IPL 2023 advertisements.
According to the report, ‘BCCI, franchises, and broadcasters earned around 65% of the entire spend as direct revenue. However, 35% of the remaining indirect revenue was known to be earned as advertisement revenue by social media platforms and various other internet platforms.’
No wonder the industry holds a lot, but it also faces its set-off challenges. However, there are concerns about the increase in goods and services tax, which can negatively affect small players and new entrants. It can even affect innovation and industry growth.
Along with everything, there is a requirement for regulatory frameworks and policies to have fair and responsible gaming methods for a secure user environment.
