Fantasy Sports are popular worldwide, as players have the opportunity to create their dream-team and win points. Perhaps the most famous fantasy gaming platform is Fantasy Premier League, which counts over six million users. Whether you want to play against a small circle of friends in a private league or participate in a global competition, you can have great fun in a season-long tournament. However, what happens if you forget to adjust your selection? Missing just one round can cost you many points and leave behind the rivals. Would it be great if you can make a selection and compete only in one particular matchday? That’s where Daily Fantasy Sports step in!
Fantasy sports platforms usually provided season-long competitions, and gamers could pick sports players from the English Premier League or NBA. However, that concept didn’t work well in India. Gamers were often frustrated when they simply don’t have time to set up their team for a particular round. Consequently, they fall behind so much that their chances of winning become very slim. With such low attention spam, Indian gamers were quickly giving up their fantasy sports adventures. They wanted something different, something that can provide instant gratification.
As opposed to the long-lasting fantasy sports competitions, daily fantasy sports entered the market with a completely different concept. Instead of the free-to-use platforms and seasonal competitions, users got the opportunity to opt-in with a small entry fee and compete in just one round. The platform would define a prize pool, and the best “managers” could enjoy their winnings after the round is completed. Indian punters can also place their wagers on fantasy sports events, and the best fantasy betting sites are listed at bestcasinosites.net.
The gamers act like managers, and they pick a virtual team from a particular sports league. Of course, the most popular daily fantasy competitions in India are cricket-related ones. Since cricket is the national sport number one, the Indian Premier League attracts millions of fans and daily fantasy gamers. Scoring in daily fantasy sports is calculated based on the selected players’ real-life match stats. That includes wickets taken by a bowler, runs scored by a batsman, or fielder’s catches. Managers can get extra points based on the captain and vice-captain selection. The gamer with the highest number of points at the end of the match wins the contest.
Daily fantasy sports turned out to be a great success among Indian gamers. Dozens of them are available in the market, and the majority focuses on daily fantasy sports. Perhaps the most famous DFS platform is Dream11, which was launched back in 2008. At first, its business model was much like the Fantasy Premier League one. It was a season-long cricket fantasy competition and free-to-play for all users.
However, Dream11 switched to the daily fantasy sports format in 2012. Instead of the free-to-play concept, it became the pay-to-play business model. This platform pioneered fantasy sports in India, and others followed its path. Nowadays, gamers can find spaces like My11 Circle, MPL, Fancode, My Team 11, and others. Nevertheless, Dream11 is still a dominant DFS platform in India that counts over 100 million users. The company is also the main sponsor of the latest edition of the IPL.
The domestic daily fantasy sports market is constantly growing and follows the Indian middle class’s growth trends. More people have access to the mobile internet and spend their time on online entertainment. Since the online gambling market, along with the daily fantasy sports, is still in a gray zone, DFS platforms benefited from these trends as well.
The daily fantasy sports industry generated a $125 million revenue in 2019 and roughly $330 million in the year behind us. The market is still developing here, and when it matures, estimates say that it will challenge the US one. The revenue figures will keep rising thanks to the enormous potential growth. A great surge is supposed to be driven by the higher engagement of millennials and growing digitization.
Although DraftKings, the US daily fantasy sports operator, is an undisputed global leader in the industry, Dream11 emerges as the fast-growing provider. Our company is valued at more than $1 billion, and with the continuous expansion of the DFS market in the country, it will likely become an important player on the global market.
The potential of daily fantasy sports expansion in India is vast, as modern technologies’ availability constantly increases. People have more time than ever to watch other sports events, and not only cricket. Football also enjoys increased popularity, which provides another axis of growth. Several Indian states still consider daily fantasy sports as illegal activity, and if the legal situation changes, the industry can penetrate those markets as well. Dream11, as the domestic DFS industry leader, still has huge growth opportunities. A considerable part of the market space is still intact, and if the sky-rocketing trends continue, we can get an influential player in the global DFS market. Certainly, this is just the beginning since millions of sports fans in India can drive DFS forward.