Fantasy sports in India have seen phenomenal growth over the past few years, with millions of people actively engaging. The advent of fantasy sports has changed the way people consume sports; it is no more just about viewership, but active engagement with the sport.
Fantasy sports is an online game that allows players to create virtual teams based on real athletes and actual matches. These athletes score points for the users based on their real-life performances in competitions.
To perform in Fantasy Sports, users need to have an intimate knowledge of the sport and its players.
According to the FIFS-Deloitte Report 2023, the Fantasy Sports industry in India has been on the rise, with revenue almost tripling from FY20 to FY22, reaching INR 6,800 crore. This growth is projected to continue at a 30% CAGR till FY27, making it a crucial driver of economic and technological growth in India, with an expected FDI influx of INR 25,000 crore until FY24. The industry has created over 12,000 direct and indirect jobs in FY22 alone, highlighting its significance as a driver of economic growth.
Apart from the economic benefits for the country, fantasy sports have also helped cultivate a deeper sports culture in India. Fans can come together, engage in various sports and compete against each other. The real-time experience of playing fantasy sports adds an element of excitement and thrill, making the overall sports-viewing experience even more engaging.
It also helps create a new breed of sports fans who follow individual players and teams across different sports, boosting viewership and attendance at live matches and sporting events. In fact, 54.4% of Indian fantasy sports users strongly agreed that they began watching new sports beyond cricket after participating in fantasy sports contests.
Now more than ever, different sports have started witnessing a significant rise in viewership and engagement partly due to the growing popularity of fantasy sports.
According to the report, at least 35% of FS users play two or more fantasy sports of which at least one is non-cricket. The report highlights that 69.8% of fantasy sports users end up watching new sports and learning about new players and leagues. This shows the ability of fantasy sports to create a multi-sport revolution in the country.
The report also showed that kabaddi as a fantasy sport saw a jump in user base from 9% in FY21 to 26% in FY22. Similarly, basketball and baseball also saw a jump in their user base from 4% to 7%, and from 2% to 5%, respectively.
Fantasy sports’ growth has spurred the development of new leagues like the Indian Super League (ISL) and the Pro Kabaddi League (PKL). Interestingly in 2019, kabaddi became the second most-watched sport as the 2022 season of Pro Kabaddi League (PKL) showed a 17.5% increase in its reach over the 2021 season (up to 222 million viewers). These leagues have created new opportunities for players, coaches, and other stakeholders in the sports industry.
Importantly, cricket formats other than men’s cricket have also witnessed tremendous growth. The T20 Women’s World Cup saw a 47% increase in viewers in just two years, up to 1.64 Billion viewers in 2022. Additionally, this year’s first-ever Women’s Premier League tournament garnered a live viewership of over 60 million.
The increased interest and engagement in different sports has led to games like football, kabaddi and hockey getting better television deals. Advertisers, broadcasters, and sponsors are now taking notice, and are investing in these sports, leading to increased revenue and a brighter future for non-cricket sports in India. Fantasy sports companies contributed INR 3,100 crore to the sporting ecosystem via advertisements and sponsorships in FY22. They are further projected to increase that contribution by 110% to INR 6,500 crore by FY27.
As the world becomes more interconnected and technology continues to reshape the way we consume sports, fantasy sports has emerged as a powerful catalyst for the sports industry. The impact of fantasy sports is not just limited to the gaming industry; it has created a new breed of sports fans and opened up opportunities for other sports to gain attention and drive the larger sports economy. And that is vital for India’s ambitions of becoming a global sports powerhouse. The journey, it seems, has just begun.
By Joy Bhattacharjya, Director-General, FIFS
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