Yes! We all know fantasy sports. It is an industry which is not anymore new to the world. It has proved itself in North America and is now expanding itself to different parts of the world especially in European countries. Like every other industry, fantasy sports faces its own set of challenges in every new geography. Be it legal, operational or marketing, all these challenges cannot be restricted.
Industry veterans are making sure that the concept is presented and accepted seamlessly in the new markets. During our research and interactions with major industry stakeholders and big businesses, we have summarised four facts about fantasy sports which are unknown to a bigger chunk of people in and outside the industry.
Fact 1 – Audience Magnet
Fantasy Sports is no more ‘just a business’. It’s an audience magnet which brings new users to a business. Think of it as a concept at a bigger level, which has different implementation and benefits for every business that uses it.
- A sports league or club, developing a fantasy sports application means a tool to engage sports fans and attract new followers for their club or league.
- For media houses, it’s a user mine which brings them close to their existing digital audience through registrations and increased sports content consumption.
- In iGaming platforms, fantasy sports software development and integration is done with an intention to open their platform to a new set of audience (sports fans) and then attract them to participate in their existing iGaming products.
- Sports Brands utilize this concept as a clear method to get in touch with their consumers and keep them engaged.
Fact 2 – Legal in India
It is true! It is clearly confirmed by the Central Government Act (The Public Gambling Act, 1867) that game of skill, wherever played, will not be covered by the provision of the gambling act. Therefore, these skill based sports are not considered as gambling by any means.
Moreover, under Indian constitution, the state legislatures are given the power to frame their betting and gambling laws. Also, games such as rummy, chess, carom and wagering on horse races have been recognised as a game of skill by the courts of India.
Is there a license in place to run such business in India? Yes, the State of Nagaland has recently passed it. Named as the Nagaland Prohibition of Gambling and Promotion and Regulation of Online Games of Skill Act, 2016 (“Act”). The Act scrutinises issuance of online gaming licenses for skill games.
Fact 3 – Unique Implementation by NGOs
This sounds interesting. Isn’t it? Some major NGOs have a very different view about fantasy sports. They plan to use it to inculcate analytical thought process in the teens. Thus, fantasy sports can be implemented in an environment which helps teens to grow their decision-making powers and improve their research-driven approach.
Think of a platform where teens can play and participate in such sports and their academic questionnaire simultaneously. The total points (that decide the winner) will be calculated based on their performance in both.
Fact 4 – Fantasy sports for kids
Yes, there is a separate space for kids in the world of fantasy sports. We are clearly not talking money here. Kids can enjoy these sports in their own way. They can have their own platforms to enjoy the sports. One of the major website offering fantasy sports for kids between age 6 to years of age is NFL Rush. The winners get tickets to 2017 regular NFL season.
Techracers is a team of 150+ specialists in fantasy sports application design and development. We deliver engaging and revenue driven fantasy sports platforms and help set up successful fantasy sports businesses.