The rise of fantasy sports and online gaming

The online gaming market is booming with technology. Fantasy sports and online games are no longer just for entertainment. Online gaming is a platform where you can showcase your skills and use your knowledge to earn exciting rewards. Since the first video games were released in 1950, online gaming has not stopped growing.

Online gaming business worldwide

The global gambling market was worth approximately $62 million in 2020. According to statistics, by 2026 this deal will be worth $300 billion. Mobile gaming accounts for nearly 50% of the stock market and generates $80 billion in revenue. Online gaming is a group of streamliners, developers, publishers, gaming arenas, coaches and 2.5 billion users worldwide.

Online gaming startups have been growing in India in recent years, attracting massive funding of over $1 million from domestic and foreign investors. The share of gambling platforms is evenly distributed between the USA and China, each with 24%. Asia Pacific excluding China holds 23%, Latin America 4%, Canada 2% and finally Europe, Africa and the Middle East. 23% participation.

Despite this huge success and large user base, the Indian government does not legalize online gambling. In many states of India, playing fantasy sports is illegal and considered gambling. Pandemic has doubled the growth of India’s online gaming and fantasy sports industry in terms of fantasy sports app development and fantasy sports app platform.

The government should not just view online gaming roroblog as gambling, but look at it with an open mind and understand it deeply. Governments can target gambling and gambling, but fantasy sports should be avoided. However, fantasy sports can help governments generate huge revenues and grow economies.

Types of online games

Fantasy Sport

It is one of the most popular gaming platforms for sports fans. Online fantasy is completely different from other styles of play. Users create online teams from real players playing locally. Their performance is entirely dependent on the actual stats of the player and the game.

IPL is India’s most popular fantasy sports format. Besides gameplay, many users religiously follow scores and live matches on fantasy sports platforms. It’s not gambling. You need skill and knowledge of the game to play and be rewarded. NITI Aayog published guidelines for playing fantasy sports. Users can play Fantasy Sports for free and for real money.

The fantasy sports industry is growing and the user base is growing exponentially. Since fantasy platforms are about money and there are few examples, governments consider them gambling platforms and do not consider them legal at a central level. The online fantasy platform follows all the rules of the Advertising Standards Board of India.

The government has asked states to issue guidelines for fantasy sports.

User Base and Revenue

Fantasy sports revenue in 2020 is estimated to be Rs 2470 crore. In India, 10 million people play fantasy sports and nearly 80 million watch games.

Online Rummy _

Rummy is a very popular online card game with a huge user base. Rummy is a game of skill. It requires the ability to memorize the discarded cards and calculate the odds of the game. Players must be keen observers, and every game depends on undealt cards. You can play for free or for a fee. Whether you win or lose the game is entirely up to you.

User Base and Revenue

According to a 2019 report, online rummy in the Indian market has been valued at $335 million and is likely to grow to $1.4 by 2024.

You are solely responsible for winning or losing the game.

E-Sports

eSports are games of skill. Esports are played in video game format and are played in both online and offline modes. There are numerous tournaments played in eSports. A number of electronic formats are live broadcasts of sports such as cricket, football and more.

User Base and Revenue

In 2021, the US global esports market is valued at $1.08 million. North America and Asia are the biggest consumers of esports. All revenue from the eSports market is generated through sponsorship and advertising. In 2021, 474 people watched esports worldwide, and by 2024 that number will grow to 577 million.

eSports is a game recognized by the Olympic Council of Asia and the International Olympic Committee when India won a medal at the 2018 Asian Games.

Online poker

Online poker is an online mode of offline games that requires both skill and luck. People can play for real money. Players call and raise actual bets involving money. Money and gambling are involved, so it seems illegal and gambling.

User Base and Revenue

The poker industry is growing at 35% to 40% annually in India. There are currently 3 million online poker players in India.

Last word

I eagerly await Aayog’s final instructions. Government approval game coupon will help online games play numerous tournaments and generate huge revenue. Hopefully the government will legalize online gaming with money soon.