By Rohit Bansal
India has experienced a massive development and craze towards online gaming, viz., skill-based games. According to a recent report by the Federation of Indian Fantasy Sports (FIFS), the total enterprise value of fantasy sports is ₹75,000 crore. This astonishing growth can be attributed to advancements in technology, internet penetration, and people’s unwavering love for cricket, which has led to the rise of cricket fantasy gaming. As a result, cricket has the highest share of registered users amongst these games, which is a whopping 85%, according to Statista.
The rise of fantasy cricket and platforms catering to the needs of gamers have not only changed how cricket fans interact with the game but have also provided an immersive experience that has blurred the line between spectator and participant. However, the landscape has been undergoing a consistent evolution and was not impacted by technology in the yesteryears.
Early beginnings
Before the arrival of fantasy gaming, it was about pleasantly sitting at home and viewing a favourite player’s performance on televisions and radios. However, things started changing when, two decades ago, sports channels gave cricket enthusiasts an opportunity to become more than spectators—participants. As a result, millions of people played the game, making it popular among fans, further laying the foundation of current cricket fantasy gaming.
The major turning point in the landscape was the beginning of the Twenty20 (T20) Leagues, which entirely changed the face of cricket in India. The matches became shorter, the teams became more aggressive, and the batsmen played more attacking shots, resulting in a rise in thrills and excitement. The league’s innovative format had a significant impact on fantasy gaming, only increasing its demand, which initially led to the rise of fantasy gaming platforms.
Enter the technology
It was not before the 2010s, when the market for cricket fantasy gaming started to gain traction owing to the rise of mobile phones and affordable internet across the country. The proliferation of technology coincided perfectly with the rising prevalence of T20 leagues, which allowed several fantasy gaming platforms to emerge. The synergy between the two mainly fuelled the rapid adoption of cricket fantasy gaming among the masses.
The popularity of the segment further led to the formation of the Federation of Indian Fantasy Sports (FIFS) in 2017, which was tasked with protecting the interests of gamers as well as platforms. In addition, the pandemic acted as a catalyst for the rise of several cricket fantasy gaming platforms, allowing users to participate in virtual sports. Collectively, the technology and robust digital infrastructure closed the gap between dreams and opportunities in the Indian fantasy gaming industry, and since then, there has been no looking back.
The current scenario
According to a report by Statista, the number of registered fantasy sports users in India is estimated to be 180 million in FY23, and the number is further projected to reach half a billion by FY27. This showcases how far the Indian fantasy gaming landscape has come. With the use of technology, smartphones, and the internet on the rise, mobile applications have gained ground.
It gave the cricket fans the opportunity to reconstruct their own teams at their fingertips and experience the excitement of being on a field during an actual game. Today, with mobile applications and online platforms, passionate and enthusiastic sports fans have achieved a common platform. It has enabled them to put their skills and knowledge to the test and win exciting cash prizes while sitting at home through their smart devices. As a result, FY23 witnessed the participation of 61 million users in fantasy sports, which resulted in revenue generation of over 28 billion rupees during the T20 leagues, according to the report by Redseer Consultancy.
Future forward
The development of technology has made skill-based cricket fantasy gaming both a recreational activity and a source of entertainment. India is now one of the greatest fantasy gaming markets in the world, thanks to its sizable fan base and intense interest in online gaming. Furthermore, Deloitte projects that the market will grow at a CAGR of 38% to reach a value of 1.65 lakh crore by FY2025. It demonstrates that the nation’s obsession with fantasy games is not going to abate, and the sector will experience rapid expansion.
The author is the founder of Super4