Closed door IPL could also be blessing in disguise for fantasy sport: DC CEO Dhiraj Malhotra

New Delhi, July 9

Delhi Capitals CEO Dhiraj Malhotra feels {that a} closed-door Indian Premier League might be a “blessing in disguise” for fantasy sports activities which is quick making its presence felt within the on-line gaming market that contributed in extra of Rs 750 crore in taxes over the last monetary 12 months.

The IPL, which is anticipated to happen within the October-November window, after being postponed because of the COVID-19 pandemic, is prone to be held behind closed doorways.

“This could be a blessing in disguise for the fantasy sport if people aren’t present physically at the stadium. They will be following it either on television or online. Even those who don’t watch the sport will also take interest,” Malhotra mentioned throughout a panel dialogue ‘Fantasy Fuels Sports Growth’ organised by Federation of Indian Fantasy Sports (FIFS).

The dialogue panel, which additionally had eminent journalist Sharda Ugra amongst others, mentioned about how fantasy sport was a rising market in India which additionally helps construct a fan base.

According to a KPMG survey (though the pattern measurement was solely 750) as acknowledged in a press launch issued by FIFS, over 65 per cent of the respondents indicated that there was a direct enhance within the time spent in analysing, watching and studying concerning the sport as soon as they begin taking part on fantasy sports activities on-line.

The survey additionally states that 77 per cent of the Online Fantasy Sports (OFS) customers play cricket whereas 47 per cent are into kabaddi.

Also learn: New Zealand internet hosting IPL is concept: NZC spokesperson

The FIFS on Thursday unveiled the findings of a report titled ‘Business of Fantasy Sports’ in collaboration with KPMG, at its flagship occasion FIFS GamePlan 2020.

According to the FIFS-KPMG report, OFS operators’ gross revenues stood at Rs 2,400 crore plus for the FY20 as in comparison with Rs 920 crore plus in FY19, a rise of virtually thrice over a interval of 12 months.

The Indian OFS platforms have proven a fast enhance of their user-base rising from 2 million in 2016 to 90 million in 2019.

Similarly, the variety of OFS platforms in India has elevated from lower than 10 operators in 2016 to 140+ operators by the top of 2019.

The OFS market recorded a CEA (Contest Entry Amount) of over Rs 6,000 crore in FY19 and greater than doubled to Rs 16,500 crores in FY20, at a progress charge of 167 per cent over FY20.

The progress in FY20 is regardless of COVID-19’s affect on lack of CEA and revenues for the final 15 days of March 2020.

OFS operators contributed taxes to the tune of Rs 750 crore in FY20 – a major leap of 4 instances from Rs 200 crore within the FY19.

Around Rs 14,000 crore was paid out within the type of winnings and money bonuses/promotional credit in FY20. PTI

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