India, April 18, 2023: The Federation of Indian Fantasy Sports (FIFS), India’s solely trade physique for Fantasy Sports (FS), in collaboration with skilled companies agency Deloitte India, at this time unveiled the co-branded report titled ‘Fantasy Sports: A catalyst for the sports economy’ bringing the highlight to the booming way forward for FS trade within the nation.

The report research the present panorama of the Indian fantasy sports activities trade and its affect on the Indian financial system outlining key development traits, affect on the allied industries and at last its function in selling India’s sports activities financial system.

It is noteworthy that the Indian FS trade, in step with the Atmanirbhar Bharat imaginative and prescient of the Government of India, is made in India, by Indians, for Indians, — with few examples in rising digital industries, akin to OTT and e-commerce. It has additionally quickly turn out to be a hotbed for innovation, championing superior AI/ML algorithms, white-labelling software program for international corporations, and breaking into the web3 area. In this fashion, FS additionally exemplifies the Digital India philosophy.

Key takeaways from the report are:

Industry Overview:

– With over 300 fantasy sports activities platforms (FSPs) and 18Cr customers, India is the fastest-growing FS market on this planet

– The trade grew by 31% to INR 6,800 crore in FY22. It is predicted to the touch INR 25,240 crore by FY27

– The trade is at present valued at INR 75,000 Cr

– 60% of consumer transactions on the FS platforms have are available in by tier 2 and tier 3 cities

Industry’s contribution to India’s financial system

– Attracted INR 15,000 crore in FDI until FY 22 which is predicted to the touch INR 25,000 crore by FY27

– Contributed INR 4,500 crore by the way in which of taxes. This is predicted to achieve INR 26,000 crore within the subsequent 5 years

– GST contributions from the fantasy sports activities trade is predicted to extend by 5x within the subsequent 5 years, from Rs. 2,800 Cr. in FY18-FY22 to Rs. 14,700 Cr. between FY23-FY27

– Created high-skill jobs for 12,800 individuals throughout the financial system, creating far higher affect on the society and bigger ecosystem

– FS platforms not directly employed 7,500 professionals in FY22, and are anticipated to generate 10,500 oblique job alternatives by FY27

Driver of India’s Sports Economy:

– 69.8% FS customers watch new sports activities and study new gamers and leagues

– FS gamers invested INR 3,100 crore in the direction of growth of the sports activities ecosystem by the use of sponsorships and partnerships with varied sports activities leagues in FY22. This quantity is predicted to achieve INR 6,500 crore in FY27

– FS is taking part in a key function in selling non-cricket sports activities in India. 69.8% customers strongly agreed that they began to observe new sports activities and study new gamers and leagues because of their curiosity in taking part in fantasy sports activities

– With rising participation and viewership of girls in sports activities, participation of girls in FS is rising, comprising an estimated 30% of the consumer base at current.

Launching the report, FIFS Director General, Joy Bhattacharjya stated, “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 honorable PM’s vision for making India a global gaming superpower.”

Speaking on the launch occasion, Prashanth Rao, Partner, Consulting, Deloitte India stated, “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 additionally outlines the expansion alternatives for FS. The key ones being 1) elevated investor confidence with beneficial regulatory framework and nodal company that can spur FDI, 2) rising curiosity in and viewership of sports activities aside from cricket, 3) inception of latest leagues akin to Women’s Premier League and Women’s T20 World Cup and 4) total highlight on the AVGC sector.

About Federation of Indian Fantasy Sports (FIFS):

Formed in 2017, the Federation of Indian Fantasy Sports (FIFS) is India’s first and solely Fantasy Sports self-regulatory trade physique established to guard client curiosity and create standardized greatest practices within the FS trade. FIFS goals to create a thriving ecosystem for FS customers and operators by creating tips for a standard set of practices, setting requirements of operation, and making a regulatory framework to guard the FS consumer and operator pursuits. FIFS works with key trade stakeholders and liaisons with policymakers to create a sturdy governance construction to assist the sustained development of the trade. FIFS at present has 35 members.

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