The Rise of Fantasy Sports and Online Games

The Rise of Fantasy Sports and Online Games

The online gaming market is booming with technology. Now, fantasy sports and online games aren’t just for entertainment purposes. Online games are platforms to point out your skillset and use your knowledge to win exciting rewards. Since the launch of the primary computer game in 1950, the web game has never stopped growing.

Online Gaming Business Across the planet

In the year 2020, the worldwide gaming market was approximately $62 million. As per the statistics, the business are going to be worth $300 billion by 2026. Mobile gaming makes almost 50% of the share market and generates revenue worth $80 billion. Online gaming is that a family of streamliners, developers, publishers, gaming arenas, coaches, and 2.5 billion users across the planet.

The start-ups of online gaming have grown in India, within a previous couple of years and attracted huge funding from both domestic and foreign investors of quite $ 1 million. The shares of gaming platforms are split between the US and China equally 24 which each, within the Asia-Pacific excluding China is 23%, Latin America has 4%, Canada has 2% and lastly, Europe, Africa, and therefore the Middle East holds 23 you look after shares.

Even after such huge success and an enormous user base, the Indian government isn’t considering the web game legal. In various states of India, playing fantasy sports isn’t allowed and is taken into account gambling. Pandemic has just doubled the expansion of the web games and fantasy sports industry in India in terms of both fantasy sports app development & fantasy sports app platforms.

Government should check out online gaming with an open mind and know it in-depth, rather than considering all online games, gambling. Government can target betting and gambling but should spare fantasy sports. However, fantasy sports can help the govt to get huge revenue and increase the economy of the country.

Types of Online Gaming

Fantasy Sports

One of the foremost popular gaming platforms for sports fans. Online fantasy is totally different from other gaming styles. The user creates their team online of real players playing out there on the bottom . The user’s performance completely depends on the player and real-life statistics of the sport .
IPL is that the most beloved format of Fantasy Sports in India. along side playing the sport , many users religiously follow the score and live matches on the fantasy Sports platforms. it’s not a game of chance; you would like skills and knowledge of the sport to play and win rewards. “NITI Aayog” has released guidelines to play fantasy sports. Users can play fantasy sports for free of charge and real money.

The fantasy sports industry is growing and therefore the user base is increasing exponentially. thanks to the involvement of cash and few cases on the fantasy platform, the govt considered it as a gambling platform and doesn’t consider it legal on the central level. the web fantasy platforms follow all the principles of the Advertising Standards Council of India.

The government has asked state governments to issue guidelines to play fantasy sports.

User base and Revenue

The revenue generated by fantasy sports in 2020 is Rs 2470 crore. 10 crore people play fantasy sports in India and almost 80 crore people watch the sport .

Online Rummy

Rummy may be a very fashionable online card with an enormous user base. Rummy may be a game of skill; it demands memorizing the discarded card and therefore the ability to calculate the probability of winning the sport . The player should be a keen observer and every one his/her game depends on the undistributed cards. It are often played for free of charge or for money. The victory and loss within the game depend upon the user.
User base and Revenue

According to the reports in 2019, the web rummy was worth $335 million within the Indian market and can probably get older to $1.4 in 2024.

The user is solely liable for winning or losing the sport.

Electronic Sports

It is also referred to as esports, a game-supported skill. eSports are played in video games format and are conducted in both online and offline mode. There are numerous tournaments conducted on esports. Numerous electronic forms are live telecasts of sports like cricket, football, etc.
User base and Revenue

In 2021, the US global market of esports is estimated to succeed in $1.08 million. North America and Asia are the most important consumers of esports. All the esports market revenue is generated from sponsorships and advertising. 474 people watch esports worldwide in 2021, the numbers are going to be increased up to 577 million in 2024.

Esports may be a recognized game by the Olympic Council of Asia and therefore the International Olympic Committee when India won a medal in Asian Games 2018.

Online Poker

Online Poker is that the online mode of the offline game that needs both skill and luck. People can play the sport with real money. Players call and lift the important bets which involve money. thanks to the involvement of cash and betting, it seems to be illegal and gambling.
User base and Revenue

The poker industry is growing in India at the speed of 35% to 40% per annum. at present India has 3 million active users of online poker.

Final Words

All the web games which involve money are eagerly expecting the NITI Aayog’s final guidelines to run a smooth gaming platform. the govt approval will help the web games to conduct numerous tournaments and generate huge revenue. Hope government will soon legalize online games which involve money.

By Mk Faizi

I am a blogger.