With an audience of over 2.5 billion fans spread across 180 countries, cricket is the second-most popular sport in the world after football. The addition of billions of fans, corporates, various leagues and tournaments, celebrities and big brands has made cricket a huge scope for business.
In India, cricket is not just a game, it is a religion. Cricket enthusiasts are not only frenzy but are also highly opinionated about the sport.
The year 2020-2021 brings in an enormous opportunity for fantasy sports entrepreneurs. In light of cricketing events lined up in the coming months and huge achievement of Fantasy Cricket platform Dream 11, businesses have realized that the coming year will be the best time to invest in a Fantasy Cricket App.
The motivation behind these applications gigantic achievement is that each fan is not only an enthusiast but also an expert, and there can be no better platform to flaunt their competence than on Fantasy Cricket application.
Rise of fantasy sports in India-
The growth of online viewership combined with smartphone penetration and the emergence of technical innovation has contributed to the evolution of fantasy sports in India.
In addition, the rise of league-based games like IPL, T20, BBL and more have also attributed to the monumental rise of cricket in the industry. According to a recent IFSG-Nielsen report, the user base of fantasy gaming platforms crossed 70 million Indians in 2018.
The number is massive when compared to the US and Canada markets that have 59.3 million fantasy sports users, even when fantasy sports started in these countries in the 1980s. The number of users of Dream11, the biggest fantasy sports gaming platform (FSGP) in India, has increased from around 60 lakh to more than six crores in the last two years.
Here’s why 2020–21 is the best season to launch a fantasy cricket app-
There are 4 major cricketing events lined up in the coming months and applications enjoy the maximum number of downloads and in-app purchases during national and international sports events.
1) Indian Premier League (IPL)
Indian Premier League (IPL), the T20 cricket league of BCCI is the most viewed Cricket league on the planet. It is not only the biggest cricket tournament but also amongst the biggest leagues in the entire sporting world. IPL has witnessed a 7 percent growth in overall valuation to $6.8 billion in 2019 from $6.3 billion last year, as per the annual brand valuation report by a global advisory firm, Duff & Phelps. The Mumbai Indians, the winner of four editions, saw an 8.5 percent increase in valuation to ₹809 crore -making it the most valued team.
The last season of the IPL attracted over 1.4 billion viewership, a staggering 15% growth from its previous edition. The 12th season of the IPL is around the corner and if internet anticipation is to be believed, there will be more eyes watching the cricket madness unfold this year than ever before. With over ₹100 crores spent to buy 60 players, this year’s player auction will also be more competitive than ever.
2) International Cricket World Cup
Much anticipated ICC Cricket World Cup is a quadrennial One Day International (ODI) cricket tournament contested by men’s national teams and organized by the International Cricket Council (ICC). As per BARC India viewership data shared by broadcast rights holder Star India, a whopping 462 million viewers watched the 12th edition of the league on Star network channels between March 23 and May 12th. The reach of the tournament was up 12% compared to the previous season. Cricket lovers are extremely excited for the ICC cricket world cup that is scheduled to take place from May 30th to 14th July in England & Wales. The tournament takes place every 4 years and is anticipated to serve as a catalyst for the increased adoption of these gaming platforms.
3) Big Bash Cricket League (BBL)
BBL is the major cricket league of Australia that is similar to IPL. The 8th season of BBL will start in Australia from 19th December 2019 at Gabba and will end on 17th February 2020. Australian cricket has revamped the structure of BBL, acquiring various changes to it. This year the BBL will witness a total of 59 matches which is 16 more than the past seasons. They have also introduced five-group finals arrangement to all the likely prize groups that finish in the top two. The new five-match finals framework ensures a twofold possibility for groups that finish first and second in the standard season. The other significant change in the BBL is with respect to the coin toss. The traditional coin toss has been replaced with bat flip. The changes are implemented to upload the passion of cricket fans and increase fanbase.
4) T20 World Cup
The 2020 T20 World Cup is scheduled to take place in Australia from 18 October to 15 November 2020. The finals are to be held at the Melbourne Cricket Ground.16 nations, including hosts Australia, will be participating in this 7th edition of the tournament. Many teams have started identifying playing for the top 15 and giving them various chances to claim their stake. Cricket fans are super excited for the T20 world cup. The last season of T20 saw cumulative in-home TV viewership in India reach 730 million, an increase of 114% over the previous edition. The 2020 season is anticipated to go big among the fans, which means fantasy cricket app is also going to witness massive downloads during this time. This year’s T20 world cup is a perfect opportunity for fantasy app developers and entrepreneurs to go big and make a lot of money in a short duration.
Fantasy sports draw in a huge number of fans every year. The leagues offer extraordinary challenges, the opportunity to claim and manage your own team, socialize with other game fans, the rush of victory and a hobby that requires little investment yet offers incredible prizes. There is thrill, risk, passion, and rewards that fantasy sports offers to the players which keeps the fans excited. However, the concept of fantasy sports app is new in India, and there are not many competitors in the market. This creates an amazing opportunity for fantasy sports enthusiasts to tap into the market and win a loyal customer base. Here are a few other reasons to start fantasy sports business in the following year-
1) Increasing fanbase
Fantasy sports has enabled passive viewers to become an active user by providing them with real-time gaming experience. Smartphone penetration along with cheap data rates by the telecom providers has triggered the growth of fantasy sports in India. According to IFSG-KPMG report, there are approximately 850 million cricket viewers on TV, of which 400 million consume cricket online. By 2020, it is estimated that there will be 500 million online users with 40 percent of them playing fantasy sports. The IFSG-KPMG report also indicates that there are about 20 million fantasy gamers in India right now. The market is projected to touch $5 billion in the next two years. The statistics show that the coming years will be a boon for fantasy sports businesses.
2) Lesser competition
The concept of fantasy sports is still new in the market and there are not many companies in the arena. If you start the fantasy sports app at this time of the year, it will be easier to win customers and create your presence in the market.
3) It’s Legal
It is legitimate in a lot of nations, similar to India, the idea of wagering in cricket isn’t lawful, in any case, dream cricket applications are viewed as lawful. As fantasy sports is a game of skill, it is viewed as lawful to play. This is perhaps the main motivation for Dream11’s immense accomplishment as it garnered many cricket fans.