The Fantasy Sports Federation of India (FIFS), India’s only fantasy sports (FS) trade body, today announced a joint branding with professional services company Deloitte India entitled Fantasy Sports: A Catalyst for the Sports Economy. published a report. Spotlight the booming future of the domestic FS industry. This report examines the current state of the Indian fantasy sports industry and its impact on the Indian economy, outlining key growth trends, their impact on related industries, and their role in promoting India’s sports economy. It is worth noting that the Indian FS industry is made in India, by Indians, for Indians, in line with the Indian government’s ‘Atma Nirbhar Bharat’ vision. -Commercial. It is also rapidly becoming a hotbed of innovation, championing advanced AI/ML algorithms, white labeling software for global enterprises, and entering the web3 space. In this way, FS also embodies the philosophy of Digital India. Industry Overview: – With over 300 Fantasy Sports Platforms (FSPs) and 18Cr users, India is the fastest growing FS market in the world – Industry to grow 31% to reach Rs 68 billion in FY22 Did. Expected to reach INR 25,240 crore by FY27 – Industry is currently valued at INR 75,000 Cr – 60% of user transactions on FS platform are made through Tier 2 and Tier 3 cities India industry’s contribution to the economy – which attracted INR 15,000 crore in FDI by FY22 and is expected to reach 25,000 crore by FY27 – contributed Rs 45 billion by tax. This is expected to reach SEK 26,000 over the next five years. 2,800 Cr Rs. 14,700 Cr in FY18-FY22 FY2023-FY27 – Created 12,800 high-skilled jobs across the economy with far greater impact on society and the larger ecosystem – The FS Platform will: India’s sports economy projected to employ 7,500 professionals indirectly in FY22 and create 10,500 indirect job opportunities by FY27: – 69.8% of FS users watching new sports, Learn about new players and leagues – FS Players invested Rs 310 crore in FY22 towards developing the sports ecosystem through sponsorships and partnerships with various sports leagues. This figure is expected to reach INR 6,500 in FY27. FS plays a key role in promoting sports other than cricket in India. 69.8% of users strongly agreed that they started watching new sports and learning about new players and leagues as a result of their interest in fantasy sports. It currently makes up an estimated 30% of the user base. In launching the report, FIFS Executive Director Joy Bhattacharya said, “The remarkable growth of the fantasy sports industry in India and its positive impact on not only the sports economy but also the overall economic health of our country. Despite these encouraging trends, “I believe we are just getting started. We believe our industry will accelerate growth, foster innovation and contribute even more to nation-building, and we look forward to fulfilling the vision of our Honorable Prime Minister to make India a nation-building nation. A global gaming powerhouse.” Prashanth Rao, Partner and Consultant at Deloitte India, said at the launch event, “Our analysis shows that fantasy sports are building a resilient sports ecosystem in India, This suggests that it has great potential to contribute significantly to the country’s digital economy. , will bring new perspectives to entrepreneurs and help stimulate the development of this sector in India.” The report also outlines growth opportunities for FS. 1) Favorable regulatory framework and increased investor confidence through node agencies to spur FDI, 2) Increased interest and viewership in sports other than cricket, 3) Women’s Premier League, Women’s T20 World Cup, etc. and 4) the overall spotlight of the AVGC division.
