THOSE WANTING SOME action beyond their TVs showing the 16th season of the Indian Premier League (IPL), which kicked off Friday, can show off their skills on fantasy sports platforms. And going by the hectic activity, including investments and entry of new players in the online skill-based gaming genre, especially in the IPL season, it seems there are plenty of takers for fantasy sports.
Close on the heels of Indian cricketer Deepak Chahar announcing his entrepreneurial debut with a fantasy gaming platform called Trade Fantasy Game on February 23, Bharat Pe co-founder Ashneer Grover also launched a fantasy cricket app named Crickpe, which went live last week. The Crickpe app is part of the 'Third Unicorn'venture which Grover announced last year on the occasion of his 40th birthday.
Earlier in March, commentator Harsha Bhogle-backed fantasy sports startup Fantasy Akhada raised $11 million in a fresh funding round led by Florintree Advisors.
With this, Fantasy Akhada has raised $20 million in funding so far and claims to be currently valued at $135 million.
As a sunrise sector, fantasy sport has served to attract both domestic and global investors, with over 10,000 crore in investments in the form of FDI, as per estimates made by the Federation of Indian Fantasy Sports (FIFS), the self-governing body for fantasy sports in India, and Deloitte in 2022. "It is expected to attract â¹15,000 crore over the next three years across major platforms. Further, the anticipated introduction of the new IT rules for the online gaming industry is expected to bring regulatory stability, which will be welcomed by both the industry as well as investors," said Joy Bhattacharjya, director-general, FIFS.
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