Discover the booming India Fantasy Sports market, projected to be worth USD 72.06 billion by 2030. Learn about the driving factors and key trends, including rising internet penetration and the diversification of sports. (Image courtesy of Vivky Adams on Unsplash)
India’s online casino and betting markets are not the only areas of gambling that are consistently making their way into the limelight. We already know online gaming and eSports betting are huge, but what about fantasy sports?
It is an often-overlooked subject, especially here on Casinoplusbonus. Connected to many of these fantasy sports sites are online casinos and sports betting sites.
Fantasy sports in India have witnessed unprecedented growth over the past decade, with the market size of the industry surging year-on-year.
In fact, a recent report by Custom Market Insights has projected that the India Fantasy Sports market will be worth USD 72.06 billion by 2030, growing at a CAGR of 13.9%.
In this news report dedicated to India, we will delve deeper into the factors driving the growth of the India Fantasy Sports market and explore the key trends and opportunities that players in the industry should keep an eye on.
Factors Driving the Growth of India’s Fantasy Sports Market
The driving forces behind the rise in India’s fantasy sports market are similar to the factors that have seen online gambling and sports betting grow in popularity in the country.
Here are some of the key points:
- Rising Internet Penetration: The increasing number of Internet users in India has fuelled the growth of fantasy sports in the country. With more than 700 million internet users, India has emerged as one of the largest online markets in the world.
- Sports Fanaticism: India is a cricket-obsessed nation, and this fanaticism has translated into a significant interest in fantasy cricket. According to a report by the Indian Federation of Sports Gaming, cricket accounts for over 85% of the fantasy sports market in the country.
- High Engagement Levels: Fantasy sports offer a unique and immersive experience for sports enthusiasts, allowing them to create their teams and compete against others. This high engagement level has been a major factor in driving the growth of the industry.
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Key Trends and Opportunities in India Fantasy Sports Market
The India Fantasy Sports market is poised for continued growth in the coming years, driven by rising internet penetration, sports fanaticism, and high engagement levels. As the industry evolves, players should keep an eye on key trends such as diversification of sports, in-game betting, and monetization models to stay ahead of the curve.
Key Stats
- Diversification of Sports: While cricket dominates the fantasy sports market in India, there is a growing interest in other sports such as football, kabaddi, and basketball. This presents an opportunity for players in the industry to diversify their offerings and tap into new markets.
- In-Game Betting: In-game betting, or live betting, is becoming increasingly popular in the fantasy sports industry. This allows users to bet on various aspects of a game while it is in progress, adding a new dimension of excitement to the experience.
- Monetization Models: With the growth of the industry, there has been a shift towards different monetization models such as advertising, sponsorships, and partnerships. This presents an opportunity for players to explore new revenue streams and partnerships.
With the right strategy and approach, the India Fantasy Sports market presents a significant opportunity for players in the industry to grow and succeed. However, with the looming new gambling regs still being thrashed out, there may be some more hurdles to overcome.
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