The India fantasy sports market has witnessed exponential growth in recent years, with 2024 projected to be a landmark year for the industry. According to industry reports, the market size is expected to reach approximately $3.7 billion by the end of 2024, driven by increasing smartphone penetration, affordable internet access, and a growing young population passionate about sports.
Local fantasy sports platforms like Dream11, MyTeam11, and MPL have revolutionized the gaming landscape in India. Dream11, founded in 2008, is now the country\“s largest fantasy sports platform with over 150 million users. These platforms allow users to create virtual teams based on real-life players from cricket, football, kabaddi, and basketball matches, competing for cash prizes and bragging rights.
The rise of fantasy sports in India is closely tied to the popularity of cricket, which dominates the market. However, platforms are diversifying into other sports like football, kabaddi, and basketball to attract a wider audience. The implementation of the Goods and Services Tax （GST） on fantasy sports at 28% has brought regulatory clarity, though it has increased operational costs for platforms.
Looking ahead, the India fantasy sports market is poised for continued growth, with innovations in technology, partnerships with sports leagues, and increasing user engagement driving expansion. The market\“s potential remains significant, given India\“s vast population and growing interest in sports entertainment. |
