The gaming sector in India has expanded dramatically during the last two years. India will have 365 million gamers in 2020, and Statista predicted that number to increase to 510 million by the end of 2022. These numbers make it clear how advantageous the last two years have been for the gaming industry in India. A significant section of our sizable population turned to fantasy games in this trend gaming industry.
A fantasy sport is a type of game that is frequently played online in which players put together fictional or virtual teams made up of stand-ins for actual professional sportsmen. Based on their players' statistical performance in actual games, these gamers have been qualified. The manager of each fantasy club selects a roster from which the performance is converted into points, which are then added up and totaled.
These point systems may be straightforward enough for a "league commissioner" to manually calculate them while overseeing and managing the entire league, or they may be compiled and calculated by computers that adhere to actual professional sports results. In fantasy sports, club owners draught, traded, and cut (drop) players just like in real sports. Fantasy sports first appeared in traditional sports, such as cricket, and have just recently entered esports.
A Growing Trend in eSports and Fantasy Gaming
Sports called fantasy games let participants assemble fictional squads of real athletes from a given sport. The player's team then engages in fantasy sports, and the player's success in the virtual world is based on how they perform in the actual world. Another choice is fantasy esports. These are comparable to fantasy sports, with the exception that the team is made up of professional esports players rather than fantasy teams for games that mimic professional sports. According to Statista, the market for interactive video games in India, which was estimated to be worth over 20 billion Indian rupees in 2021, is expected to soar and surpass 50 billion rupees by 2025.
One of the main causes is the Covid-19 Pandemic, which has left many college students and young adults trapped at home. Fantasy gaming is an enjoyable and engaging hobby that keeps them engaged, and amused, and enables them to make new friends. Although gaming has remained a passion for the working population since their undergraduate years, it also serves as a getaway, a way to decompress, and a way to relieve stress from their daily routine. With a user base of roughly 90 million in 2019, the fantasy sports industry is already producing earnings that no one could have foreseen during the Super Selector era, according to a poll by the Federation of Indian Fantasy Sports. The global fantasy sports market will rise from $22.31 billion in 2021 to $26.02 billion in 2022 at a compound annual growth rate (CAGR) of 16.7%.
Factors Fuelling the Growth of Fantasy Sports
This sharp surge has been attributed to several factors, including quick technological advancements and increased internet usage due to the Covid-19 pandemic. The majority of people turned to fantasy sports as a form of amusement due to the lack of well-liked entertainment options and freedom of movement as a result of Covid-19 and its accompanying restrictions. For kids who depend on their families for financial support, fantasy sports offer extra pocket money and a meaningful, guilt-free way for them to engage in their hobby. While for a large portion of the world's population, this is seen as a way to leverage their esports expertise and abilities to create an additional source of income, which is greatly needed in these turbulent times.
India has demonstrated a great predilection for fantasy sports as a result of the internet and smartphones becoming more accessible and affordable. The pattern persisted the following year, as shown by a Statista analysis that revealed 94% of Indian gamers were playing on their mobile devices. In line with the growing popularity of mobile gaming, a sizable segment of our enormous population has taken a liking to fantasy games. Statista also estimates that by 2022, there will be over 510 million people participating in fantasy sports worldwide if the industry grows at the current rate.
These games are really popular, which is why they provide so many advantages. In addition to entertainment, fantasy games give players the chance to win real money, which is a welcome option in these unsettling times. Gamers might even turn their hobby into a full-time job because of the growing popularity of gaming occupations worldwide. Additionally, fantasy sports usually include multiplayer options that improve social interaction and connection while enabling players to widen their networks. The way that gamers communicate with one another and forge deeper friendships through social networking and instant messaging platforms also contributes to social engagement.
Future Prospects of Fantasy Sports
Fantasy sports have had a recent period of significant growth in the Indian gaming industry. As previously mentioned, the ease and comfort of access, as well as the numerous advantages of these games, are the main reasons for their popularity and user base, which are only increasing over time. Based on this, it is safe to argue that eSport is a ground-breaking idea that will endure. Fantasy games have a great deal of potential to grow and innovate in our country, as seen by their impressive performance in recent years and their promising future. We could anticipate that these games would be easier to play as technology advances. Additionally, the introduction of additional games is a possibility and will rely on how the market responds to them.
Further, technological development will create a wide range of fresh opportunities and possibilities for the gaming industry, including the eSports industry. According to industry trends and expert opinions, 2022 is expected to continue the steady rise that fantasy sports have experienced over the past two years. As a result, in the upcoming years, fantasy sports may grow even more well-known and prevalent. In conclusion, it is anticipated that industries like fantasy sports will follow suit in 2022 and beyond as eSports and virtual gaming acquire acceptance and popularity.
To End With…
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