Why there are so many fantasy apps?

If you are watching IPL, you might have seen multiple ads of various fantasy mobile application. There are more than 50 such apps. Did you ever wonder the reason behind the rise in a numerous application in the fantasy domain?

Primarily it is because of the user’s interest. Why do so many Indian’s like it? I don’t have any ballpark answer but probably we people like to watch cricket and if you can earn money by making your own team. It adds more entertainment to the game. You will be cherishing for your team not a particular IPL team. Having a team of your own, has it’s own pleasure. Secondly, when your analysis and selection proves to be correct, you develop more conviction in your ability and the cycle continues.

Since there is such a high consumer base, there are so many players our there to make money. Even the president of BCCI out there is promoting an app. You can also see Sehwag , Dhoni and Kholi, promoting the fantasy games. When celebrity advertise, we have the norm to follow and tryout those things.

According to KPMG, the Indian online gaming industry revenue is already worth $43.8 billion and is said to reach $118.8 billion by FY23 with a compound annual growth rate (CAGR) 22.1%. Indian fantasy sports industry, however, is growing at a CAGR of 32% and its worth is expected to be $3.7 billion by the year end 2024.

The 32% growth attracts so many industry players to set up their shops.

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