With over 300 fantasy sports platforms and 18 crore users, India is the fastest-growing FS market in the world and it will grow to Rs 25,300 crore at a CAGR of 30% by FY2027, as per a recent report by Deloitte.
The Federation of Indian Fantasy Sports (FIFS), in collaboration with Deloitte India, has released the co-branded report titled ‘Fantasy Sports: A catalyst for the sports economy’.
The report brings the spotlight on the booming fantasy sports industry in the country.
The report studies the current landscape of the Indian fantasy sports industry and its impact on the Indian economy outlining key growth trends, influence on the allied industries and finally its role in promoting India’s sports economy.
Key takeaways from the report are:
Industry’s contribution to India’s economy
Driver of India’s Sports Economy:
FIFS Director General, Joy Bhattacharjya said, "We are thrilled to see the outstanding growth of India’s Fantasy Sports industry and its positive impact on the sports economy as well as the overall economic health of our country. Even with these heartening trends, we believe we are just getting started. We are thankful to MeitY and believe that under their regulation, our industry will accelerate growth, spur innovation and contribute even more significantly towards nation building. We look forward to achieving the honourable PM’s vision for making India a global gaming superpower.”
Prashanth Rao, Partner, Consulting, Deloitte India, said, "Our analysis suggests that fantasy sports hold tremendous potential to help build a resilient sports ecosystem in India and significantly contribute to the nation's digital economy. The increased allocation for sports in the 2023 Union Budget, new innovations, investor confidence and growing consumer demand will help generate fresh prospects for entrepreneurs and stimulate advancement of this sector in India."
The report also outlines the growth opportunities for FS. The key ones being 1) increased investor confidence with favourable regulatory framework and nodal agency that will spur FDI, 2) growing interest in and viewership of sports other than cricket, 3) inception of new leagues such as Women’s’ Premier League and Women’s T20 world cup and 4) overall spotlight on the AVGC sector.