India is one of the most dynamic markets in the world when it comes to Fantasy Sports and Real Money Gaming (RMG). In recent years, there has been a surge of interest in these industries, leading to a rise in the number of players, games, platforms, and revenue. Let’s take a closer look at how this industry is growing in India.
The Rise Of The Mobile Audience
RMG has experienced tremendous growth due to the increased availability of mobile phones. According to statista.com, India had 811 million smartphone users by April 2020. This means that more people than ever before have access to real money gaming opportunities from their phones. With so many people using their mobile devices to play RMG games, there are now numerous opportunities for Indian gamers to generate profits from these activities.
Growth Of The Fantasy Sports Market
Fantasy sports have grown exponentially in India over the past few years as well. According to KPMG’s report on fantasy sports in India, the market size was estimated at ₹3,530 crore in 2018-19 and is expected to grow exponentially over the next few years. This can be attributed to increasing internet penetration as well as technological advancements such as AI and machine learning which make it easier for fantasy sport platforms to provide personalized experiences for each user. Additionally, fantasy sports leagues are becoming more popular among Indians due to an increase in awareness about sports leagues like IPL and ISL which makes them a great way for people to engage with their favorite teams and players while also making some money on the side.
Regulatory Overview
The regulatory landscape for fantasy sports and real money gaming continues to evolve in India. While certain activities such as online poker remain illegal under Indian law, others such as fantasy cricket are allowed by certain state governments provided they comply with all relevant laws and regulations such as those governing gambling or betting activities. Additionally, various states have passed legislation specifically allowing certain types of fantasy sports or real money gaming activities within their jurisdictions while prohibiting others outside of those jurisdictions. As such, it is important for operators of RMG sites or platforms operating within India’s borders to familiarize themselves with local laws before launching any services or products related to these activities.
In conclusion, Fantasy Sports and Real Money Gaming have become increasingly popular in India over the past several years due largely to increasing availability of mobile devices and improved access to high speed internet connections across much of the country’s population centers. Furthermore, the regulatory landscape surrounding these industries continues to evolve with certain states passing legislation allowing certain types of activity while prohibiting others outside their jurisdiction lines. With so much potential for growth still left untapped by operators within this space, it will be exciting to see what new developments emerge from this dynamic industry over the coming months and years!
