Finally, the wait of over 100 million fantasy sports players is over; the year 2020-21 again resumes with a rapid pace after a massive halt. The upcoming months are all set to be dedicated to sports followers. Talking about Indian sports, cricket has always been a fever for its fans, but this time this is going to be something very crazy. And why not, we never saw such a massive gap in any cricket events from decades. The announcement of IPL and other popular cricket leagues brings excitement and craze among fans, and the fantasy platforms act as a cherry on the cake.
The return of sporting events not only makes fans happy, but it has also brought outstanding opportunities for the entrepreneurs who have decided to start their innings in the fantasy sports industry. Now the sports events are lined up back to back. Hence it is the best time for the businesses to invest in fantasy sports platforms.
Moreover, the market size of Indian fantasy sports also plays a vital role in making this platform more demanding and best for the investment. According to the Federation of Indian Fantasy Sports (FIFS), the user base of online fantasy platforms in India has shown a massive growth of 212%. During 2016-2019, the platform had 90 million active users, and this number is continuously rising.
Here we have come up with a list of a few reasons which help you to understand why the season 2020-21 is the best time to spend on a fantasy platform.
- Indian Premier League- IPL has become one of the most popular and much-awaited leagues of all time. Announcement of IPL 2020 brings joy to millions back in India. However, the series has always been in the limelight from its start, but currently, it relishes a wholly new excitement and thrill among COVID-19 situations. The brand value of IPL has increased with every season. The event has not only been known for entertaining, but it has also made a massive contribution to the GDP of the Indian economy. According to the BCCI (Board of Control for Cricket in India), the IPL season 2015 has contributed around 11billion INR. Not limited to this, it has also increased the viewership number; the last season has brought over 1.4 billion viewers, a tremendous growth of 15% from its past editions. In 2019, the value of the IPL amounted to around $6.8 billion. Mumbai Indians and Chennai Super Kings are the two most prominent teams that have seen tremendous growth in their profit valuation.
- T20 World Cup- The T20 World Cup 2020 was postponed due to COVID-19, but now it is scheduled to play in India from October-November 2021. Cricket fans are very excited about this event as this season is going to be significant for them. The last season of the T20 world cup has witnessed a massive jump in its viewership numbers. According to the experts, the previous edition of this series has over 730 million viewers, which are 140% more than its last seasons. The market size has justified the craze for fantasy platforms and helps fantasy sports app developers and business people in understanding its demand.
- Big Bash League- A major T20 cricket league of Australia which is quite similar to IPL is all set to start in between December-February 2021. This year the sports fans of this league will witness a total of 59 matches. BBL broadcasts in over ten countries, and according to the experts, it has seen considerable growth in television broadcasting from previous years. This change can result in one of the significant advantages for fantasy platforms to increase its user-base and popularity globally.
So, these are the famous cricket tournaments that begin shortly in the upcoming months. These editions not only increase the excitement but also start a competition among fantasy sports users. There is a fun, uncertainty, enthusiasm, and rewards that fantasy platforms offer to the players which keep them engaged and stick to it. However, this concept is new in India, so there is less competition.
Currently, the two prominent market giants DREAM 11 & MYTEAM 11, rules the fantasy sports industry single handheld. These fantasy platforms offer unique opportunities to the users and act as significant competitors for other entrepreneurs who want to tap into the market and achieve a massive customer base.
Here we have curated an additional list of reasons which gives you a better conclusion:
- Less Competition- As we have discussed above, the concept of Fantasy sports platform is entirely new in the Indian market. There are only two leading companies that are doing well in this industry. If you have decided to invest in this business, then this year is best for it, as you will not find much competition. Moreover, it will increase the chances of getting more users and secures your presence in the market.
- Fantasy sports is now legal- Yes, this is true, after a long battle, finally fantasy sports becomes legal in India. The Supreme Court of India has declared this concept as a game of skill, not gambling. Therefore, it is not difficult for you to start your own fantasy platform.
- Increasing User-engagement- Fantasy sports platforms are known for offering a real-time experience to its users. Availability of smartphones to everyone has triggered it demands more. According to experts, INDIA has become the next biggest hub for fantasy sports after the United States. The users increased from 2 million in 2016 to 9 million in 2019. The industry has also witnessed rapid growth in its operators. In 2016, there were only 10 operators, but in 2019, it has 140 operators. These stats are enough to justify its rising demand in the Indian market, hence start investing today and get prominence in the sports industry.
- Partnership with popular Leagues- Fantasy platforms are known for their user-engagement and fantastic game experience. They are successful in grabbing the attention of new users. Therefore, the sports leagues also see this platform as one of their leading sources in increasing popularity. By investing in these fantasy platforms, you will also get a chance to build partnerships with these prominent leagues. It will not only increase your brand value but also help you in getting a massive customer base.
So, what are you waiting for? Hire a fantasy sports app development company, today and start your own fantasy platform.