India, with its 1.3 billion people and rapid growth of online entertainment, is one of the most promising markets for fantasy sports and real money gaming. With just a small fraction of the population engaged in real money gaming, there is huge potential for this industry to grow and expand. Let’s take a look at the current economic landscape of fantasy sports and real-money gaming in India to see how far this industry has come and what it could mean for future growth.
The Indian Real Money Gaming Industry
The Indian real money gaming industry has seen tremendous growth over the past few years, with an estimated annual gross revenue of $1.6 billion (USD) in 2020. This number is expected to grow to $5 billion by 2025 as more people become aware of fantasy sports and other forms of online entertainment. There are currently around 80 million players in India who are actively engaged in playing games involving real money, mostly through mobile apps.
Fantasy Sports Becoming Increasingly Popular
Fantasy sports have become increasingly popular among Indian gamers over the past few years, with an estimated 10 million users playing on various platforms in 2020 alone. This number is expected to rise even further as more people become aware of the existence of such platforms and get acquainted with how they work. The average daily spend on fantasy sports has also increased from INR 4-5 per day in 2017 to INR 8-9 per day in 2020, indicating that more people are willing to invest their time and money into this form of entertainment.
Economic Impact on Local Economies
The increasing popularity of fantasy sports and other forms of online entertainment have had a huge economic impact on local economies across India as well. It’s estimated that the total economic impact created by these activities was approximately INR 11,000 crore (USD 1.5 billion) during 2020 alone – a figure that should continue to increase as more people become aware of the benefits associated with them. Additionally, this sector has created jobs both directly and indirectly for thousands throughout India – from customer service agents to marketing professionals – helping boost local economies even further!
All in all, India’s growing population combined with its rapidly advancing technology presents a great opportunity for fantasy sports platforms and real money gaming companies alike. Fantasy sports have already seen immense success over the past few years, but there is still much room for growth as more people become familiarised with these platforms and what they offer. Additionally, this industry has had a profound economic impact on local communities across India – creating jobs while boosting local economies at the same time! With so much potential ahead, it will be exciting to see how much farther this industry can go!