54% of the users are playing fantasy games for free, while 8% are spending more than Rs.1 thousand
Fancy Sports is not illegal yet, supporters consider it a game of expertise.
Fantasy Sports denotes its anti-digital betting
new Delhi. Fantasy sports came to India 18 years ago. But after 2016 it has grabbed and now the number of people playing it on websites or apps has reached 5 million. In Fantasy Sports, the user creates his virtual team and earns points on the mobile app or website. According to points, the earnings of the users are also. There are two types of fantasy games in the ongoing gaming apps in the country. First, there is no fee to play free to play. While second – pay to play, in which money is taken to play entry fees or contests.
20% of online gaming users of Fantasy Sports
According to the March 2019 report of the Indian Federation of Sports Gaming (IFSG), 25 million people play online games in India. Of these, 20% are 5 million users of Fantasy Sports. Fantasy Sports started in the United States in 1952, but it started in India by ESPN-Star Sports in 2001. However, it was discontinued in 2003.
According to IFsG, the number of fans who played fantasy games from June 2016 to February 2019 has increased by 25x. In June 2016, the number of fancy sports playwalkers was only 2 million, which increased to 5 million by February 2019. At the same time, by 2020 they are expected to be more than 100 million.
Revenue of online gaming companies increased 116% in 4 years
Gaming industry revenues in the country increased more than two times in the last four years. It is expected to grow nearly three times in the next 5 years. In 2014, revenue of the gaming industry and fantasy sports industry was 20.3 billion rupees. This increased 116% in 2018 to 43.8 billion rupees. Revenue up to 2023 is estimated to be 118.8 billion rupees. There are fancy sports companies like My Team 11, Dream 11, Fenten, Halappel, 11 wickets and StarPic in the country. Among them, only 90% of the market is owned by Dream 11. Dream 11 is the only company, which has the highest growth in the last 4 years. Games like cricket, kabaddi, basketball, football are on the fantasy sports platform, but most people like to play cricket. According to the report, 85 percent of Dream 11 users play cricket. However, in 2015, 95 percent of the players on the Dream 11 used to play cricket.
47% of users play once in a week Fantasy Sports
According to the IFSG survey, 47% of users play fantasy games once a week, while 20% people more than 5 times a week, 27% people 2 to 3 times per week, and 6% people play 4 to 5 times a week. . According to the survey, 48% of 18 to 24 years, 49% from 25 to 36 years and 33% of 37 to 50 years of age play fantasy games only once a week.
54% of the users play fantasy games for free, while 8% spend more than Rs.1 thousand. 9% people spend up to Rs 100, while 11% spend 100 to 300 rupees, 10% to 300 rupees 500 rupees and 8% people to 500 to 1000 rupees. Among them, 27% of the people earning less than Rs 3 lakh are free to play. However, 63% of the income from Rs 3 to 5 lakhs, and 56% income of Rs 5-10 lakh and 69% of the income of Rs 10 lakh, will be played for free.
What is the law about betting in India?
According to the Public Gambling Act -1867, betting and gambling in the country have been treated as a crime. These are the topics of the two states. If you want the state, you can make laws for yourself. Various activities related to betting and gambling in Goa, Daman and Islands, Telangana and Sikkim have got legal recognition. In the year 1966, the Supreme Court recognized the betting in horse and rummy and said that it is not a game of coincident but it requires cleverness and skill. In July 2018, the Law Commission and earlier, the Lodha Committee recommended legalization of betting in cricket.
If betting is legal, then government will get revenues of 20 thousand crores annually.
According to Statistia Research, in 2012, India had a speculation of $ 88 billion (about Rs 6.10 lakh crore), which increased to $ 130 billion (about 9 lakh crore rupees) in 2018. According to an estimate, every cricket match in India is worth about 1400 crore rupees. In the report of the Lodha Committee, it was mentioned that betting is legal in some countries of England, the US, Australia, Canada and Europe, so that taxing these countries is of great benefit. Even if betting is legalized in India, the government can get revenues of up to Rs 20,000 crore annually.
No law about Expert View / Fantasy Sports, but it is also not considered illegal
Legal Expert Virag Gupta points out that there is no separate law in the country with Fantasy Sports, but Fantasy Sports is played online. Therefore, the Central Government can take action only against IT Act. It is not considered illegal yet. Supporters of Fantasy Sports say that this is a game of expertise, so it is considered different from betting and gambling, but its opponents consider it a form of digital betting. According to the contract act, PMLA, IPC, FEMA, income tax and consumer laws, betting and gambling is illegal too.
Why fantasy sports are not considered betting?
Transparent and secure, just digital transactions.
Illegal transactions, mostly black money. Mostly cash.
Corporate tax, income tax, GST, TDS all feel. The advantage of the public exchequer
The government has no revenues.
18 years of age required. On winning, the official ID proof has to be given.
Gray runs in the market. No restrictions of any kind.
Fantasy Sports Not Illegal
Betting is illegal.