Fantasy sports has been around but has garnered significant attention in the recent years. From Fantasy Premier League to IPL Fantasy League, the landscape of fantasy sports has certainly changed for everyone to see.
The industry has evolved in Asia and other markets where it was non-existent a few years ago. For some, it is no longer an interest but has become an everyday routine. Fantasy Sports industry has witnessed growth of exponential proportion but more than that it now seen as a game changer.
A rising trend
The numbers are unbelievable! As per reports, the global fantasy sports market size is expected to go past $1.5 billion by 2024, an increase rate at a CAGR of more than11% during 2018–2024. India is still in nascent stage when it comes to catching up with the global trends of fantasy sports. It is one of the fastest growing fantasy sports markets when the leading player Dream 11 reported a revenue of 800 crore in 2019, an increase from 230 crore in 2018. According to the Indian Federation of Sports Gaming (IFSG) and AC Nielsen’s report, the user base in base in India will cross 100 million by 2020.
The numbers are continuing to increase each year. The users have embraced dream 11 fantasy cricket along with games like kabaddi, hockey, volleyball, handball which were not most fantasy sports platforms earlier. The promises more and considering the headstart, the possibilities and opportunities are endless. Where does the road go from here? It’s already so big, but fantasy sports is only in its early stages of development and has a potential that is sky-high.
Sports fan is more engaged than ever
Sports fan bases were always there. The associations are getting stronger and larger with each day, some of it fueled by fantasy sports. The rising popularity of the competitions like Premier League and IPL, there is a certain co-relation. The intensity of sports experience is bound to increase with fans being involved with their personal interests.
Expansion of sports
Not just there is growth within the industry but also new avenues have opened. Several countries are embracing new sports, grounds and infrastructure is being developed around the world for an entirely new sports form. Moreover, there is significant rise of advertisements, fan clubs, and merchandising to fuel up the sports fever. This is a win-win for both sports and fantasy sports.
Data analytics way
Digital playing ground means the role of data analytics being paramount. An extensive amount of data is collected, interpreted and put to the users’ advantage in form match prediction. The sports fans are more involved in data than ever, trying to uncover patterns and improve techniques. The use of Live tracking tools and data-driven approach is well received by the users.
Ultimately, all major sports are a numbers game. In the interests of a user, there is a lot of data to assist users make better or informed decisions. Keeping track of your performance, staying abreast with stats that may define the game is definitely the way forward.
Opportunity for all
Just like any new business or industry, sports has been creating opportunity for players, digital agencies and others related to the industry. Fantasy sports is one a rise and billions of users taking part in it, there lies opportunity for all.
We started with video games and now there are many ways to take digital gaming experience further, including fantasy sports. Now that it has become its own industry, billions around the world have embraced fantasy games while many millions are drawn each year. The world is taking notice that fantasy sports is a game-changer.