Young Indians seem to be spending most of their time glued to their smartphones. Whether it’s catching up on YouTube videos, or chatting with their friends on WhatsApp, or uploading their snappy TikTok videos, Indians are spending more time on their smartphones than ever before. But while social networking is keeping staring at their phones, there’s a new activity that’s got them hooked — fantasy gaming.
Fantasy games let users take part in competitions in which the outcome is determined by results of sporting events. Games like Dream11 allow users to create their fantasy teams, and based on the performances of players, can win or lose. These games often require real money to participate, and have real cash prizes. As they straddle the thin line between gambling and games of skill, they’re currently allowed in India, and companies like Dream 11 are now worth billions of dollars. Here are 5 reasons why this sector is growing so fast
1. The ubiquity of smartphones: Fantasy games have existed for over a decade now, but their growth has been turbocharged by the growth of smartphones. Some games can require players to make quick changes to their teams and their rosters, and this becomes vastly easier on a smartphone. Players can now play on the go, as opposed to only when they’re on their desktops or laptops.
2. Cheap data prices: Thanks to Reliance Jio’s arrival in 2016, data prices in India plummeted, and this allowed a lot more people to have access to the internet. Cheaper data (and smartphones) has meant that there is now an ever-bigger market for games. And with an estimated 300 million smartphones in India, fantasy game apps have a lot of eager users to tap into.
3. The passion for cricket: They say that cricket is a religion in India, and that’s evidenced by the numbers — Hotstar smashed the world record for most concurrent users during the IPL final last year. With interest at cricket at such levels, it’s not surprising that fantasy games, which allow fans to become even more involved with the action, are doing really well.
4. Payment systems: What’s also facilitated the ecosystem to develop is how online payments have developed in India over the last few years. Since the demonetization exercise in 2016, there’s now several ways to send and receive money on your smartphone, including wallets like Paytm and Mobikwik, UPI apps, other platforms through which you can gamble in online casinos that accept PayPal – list by CasinoHEX India, it’s become ever easier to receive winning directly into your bank accounts.