Fantasy sports are growing at a rapid rate in the country and companies like Dream11 are already valued at well over a billion dollars. What is the future of fantasy sports in India? Well, we think we can take some hints from the progression of such companies abroad and get a good idea of what will happen in India as well.
What is the future of fantasy sports in India?
Fantasy sports are a gateway to gambling. They allow people to get comfortable about placing money on the outcome of player performances and to try and win money in return. This is essentially what online casinos like Betway or 10Cric offer their customers.
Eventually, though, we believe that sports gambling is going to be legalized in India and that the biggest fantasy apps are going to offer their customers the option to bet like traditional online casinos. This is exactly what happened with DraftKings in the US as well.
Sports gambling is closer to being legalized than you may imagine as well. The Supreme Court of India has already given a directive to the government to explore the viability of this. It will regularise a huge market, reduce the incidence of crime, and also be able to add thousands of crores to the tax collection of the government.
Also, the kind of money that an online betting company will be able to make in India, once legalized, is beyond the scope of imagination of most people. Every single cricket match in India sees thousands of crores being bet. Most of this done illegally and offline. If even a percentage of this can be captured by a legal entity, it will change its fortunes forever.
What is the future of fantasy sports in India? Very bright at the moment in our opinion!