India Fantasy Sports Market: Industry Trends and Forecast 2023

The Indian fantasy sports market has experienced significant growth in recent years and is expected to continue growing in the coming years. According to a report by the Indian Federation of Sports Gaming (IFSG) and AC Nielsen, the fantasy sports market in India was estimated to be worth around $1.5 billion in 2019, with a user base of around 100 million players. By 2025, the market is expected to reach $5 billion in value. Let us move forward and look at an overview of the fantasy sports market in India, and the forecast and trends of the fantasy sports market.

Fantasy Sports Market: An Overview

Fantasy sports games involve creating a virtual team of real-life players from a particular sport, and earning points based on the performance of those players in actual matches. Cricket is the most popular sport for fantasy sport in India, followed by football, kabaddi, and basketball. The popularity of fantasy sports can be attributed to several factors, including the increasing availability of affordable smartphones and data plans, the rise of digital payments and online transactions, and the growing interest in sports among the Indian population.

Additionally, the COVID-19 pandemic has also accelerated the growth of fantasy sports, as people looked for new forms of entertainment while staying at home. The Indian fantasy sports market is dominated by two major players, Dream11 and MPL (Mobile Premier League), which together account for over 90% of the market share. Other players in the market include Vision11, MyTeam11, FanFight, and BalleBaazi.

However, the industry has faced some challenges, including concerns about the legality of fantasy sports, as some states have banned or restricted them, citing gambling laws. Additionally, there have been concerns about the potential for addiction and the impact on the mental health of players, particularly among young people. Despite these challenges, the Indian fantasy sports market is expected to continue growing in the coming years, driven by the increasing popularity of sports and the growing adoption of digital technology.

Fantasy Sports Industry Trends 2023

Here are a few of the many fantasy sports industry trends that are going to shake the market of sports and fantasy market in 2023 and ahead:

01. Continued Growth

The fantasy sports industry has been growing steadily over the past few years, and this trend is expected to continue in 2023 and beyond. The increasing popularity of sports, the availability of affordable smartphones and data plans, and the rise of digital payments are expected to drive this growth.

02. More Diverse Games

While cricket has been the most popular sport for fantasy sports in India, other sports like football, kabaddi, and basketball are gaining popularity. Fantasy sports platforms are expected to offer more diverse games to attract a broader user base.

03. Focus on User Engagement

Fantasy sports platforms are likely to focus more on user engagement in 2023. They will do this by introducing new features and gamification techniques, such as leaderboards, challenges, and rewards.

04. Expansion Beyond India

Indian fantasy sports platforms have been expanding beyond the Indian market, particularly in other South Asian countries. This trend is expected to continue as fantasy sports gain popularity in other regions.

05. Increased Regulation

The Indian government has been considering regulations for fantasy sports, and this trend is expected to continue in 2023. Regulations could impact the industry by increasing transparency and consumer protection.

06. Impact of Technology

Artificial intelligence, machine learning, and blockchain will significantly impact the fantasy sports industry in 2023. These technologies can enhance user experience, prevent fraud, and ensure fair play.

Fantasy Market Forecast 2023

The fantasy sports market is expected to continue growing in the coming years, driven by the increasing popularity of sports and the growth of digital technology. The COVID-19 pandemic has also accelerated the growth of the market, as people looked for new forms of entertainment while staying at home. In 2023, the Indian fantasy sports market is expected to be worth several billion dollars, with a user base of over 100 million players. Cricket is likely to remain the most popular sport for fantasy sports, followed by football, kabaddi, and basketball. However, platforms are likely to offer more diverse games to attract a broader user base.

The two major players in the Indian fantasy sports market, Dream11, and MPL are expected to continue dominating the market. However, new players may enter the market and offer innovative features and services to compete with the established players. The industry is likely to face some challenges, such as increasing regulation, concerns about addiction and mental health, and potential legal issues.

However, the industry is also likely to benefit from advancements in technology, such as artificial intelligence, machine learning, and blockchain, which can enhance user experience and ensure fair play.

Wrapping It All Up…

Overall, the fantasy sports market in 2023 is expected to continue growing and evolving, driven by changing consumer preferences and the ongoing adoption of digital technology. So, if you are wanting to keep up with the trend and are wanting to immediately get a fantasy sports app developed for yourself, then you must contact Fantasy App Developer. Here we develop the best fantasy sports app with the latest technologies, that enables you to keep up with trends.