What is Fantasy Sports, why has it got fans excited & geared up??
As we wade into March, all sports enthusiasts gear up to welcome the new season of IPL. In a country that swears by cricket and where cricket transcends the boundaries of a normal sport, Indians await the new season with bated breath as it sets to premiere on 26th March, spanning over 74 matches. Over the years, IPL has made waves by uniting every citizen in front of the screen to dote on their favourite teams and players. The upcoming edition promises to pack a bigger punch with the addition of two new teams, which has ensured the two times more excitement as the tournament welcomes teams from Lucknow and Gujarat.
With the advancement of technology over the past few years, sports enthusiasts have been presented with newer and more innovative ways to engage with the sport, besides simply watching it. With the introduction of sports-tech offerings such as Fantasy Sports (FS), there has been a shift in the paradigm as sports lovers clamber to show off their own skills and knowledge of the game, after following it for years. FS platforms have enabled ardent sports lovers to flaunt their expertise from the comfort of their own homes, and win rewards in the process.
If you haven’t caught onto the wave, we have put together a list of points that will give you an idea of what exactly Fantasy Sports is, and how it has exalted the sports ecosystem of the country.
Fantasy Sports Have a Symbiotic Relationship with Real-Life Sports: Fantasy Sports format is based on real life sporting events. For a user to participate in a FS contest, a real life match has to be about to take place. Fantasy Sports allows a fan to deeply engage with his favourite sport in a meaningful manner. Studies show that Fantasy Sports users end up watching more sports leading to increased viewership & subsequent growth of sports in general
Game of Skill: Another important thing to keep in mind is that participation in Fantasy Sports contests requires deep knowledge and insights into sports. The player creates a fantasy sports team based on their understanding of the sport, the team, the on-ground team players, the weather conditions etc. In this manner, knowledge of the sport becomes a deciding factor of how a player’s chosen team will fare, based on the chosen players’ performances in the real life matches.
Importance of Research in FS: It is evident that for the virtual Fantasy Sports team to win a contest, the user is required to be cognisant of a lot of factors, down to the nitty-gritty details of the game before making his team. Advanced users conduct extensive research about all elements of their chosen match–from the squads, to the venue, to the recent form of players, in order to make the perfect team. Statistics play a heavy role, having objective information about a player’s recent performances is one of the most crucial pieces of information that should be sought after. Further information includes player performances when paired with a certain team, or a certain venue, all of which adds on to a sound playing strategy.
Fantasy Sports has a positive impact on the Indian sports ecosystem: Scores of sports enthusiasts have taken their passion for sports to the next level, through Fantasy Sports. The sector is such a rapidly growing one, that it is estimated to contribute Rs. 13,500cr revenue to the exchequer in the next 3 years. It has given further fuel to the economy by attracting Rs. 10,000cr in FDI, and is further set to attract another Rs. 15,000cr in the successive 3 years.
With over 200 FS platforms operating in the country, this sector has given India the title of the world’s largest OFS market, surpassing even the US. And with the latest IPL season in tow, it is bound to make further records this year round, ushering more people to participate in the cricket frenzy – making it the perfect winning combination.
