Kiren Rijiju, the Union Youth Affairs and Sports Minister during 10th Global Sports Summit: FICCI ‘TURF’ 2020 event on Wednesday, talked about the positives of online fantasy sports platforms and explained its importance.
Kiren Rijiju believes that online fantasy sports platforms are helping in revolutionising sports
The platforms gradually rose to prominence and enabled the fans to try out their fantasy sports ideas.
Rijiju said that the online fantasy sports platforms are beneficial as they are increasing the engagement of the fans with the sports which they follow.
He said, “I see how fantasy sports is fuelling sports consumption. It is very important. Online fantasy sports is instrumental in revolutionising the manner in which sports enthusiasts engage with their respective favourite sports.”
He noted that India is a big market having fans in billion. As an industry ‘it is all about mass and scale’ which is a problem. Thereby, they are trying to focus on other sports that have pockets of users, even it can in lakhs.
The fantasy sports platforms help the fans follow the matches, teams, players, venue conditions etc. and get a closer look to create a successful fantasy sports team. It is based on the actual sports match and the real-life events
Kiren Rijiju said, “Fantasy Sports changes the way you consume sports — you don’t just follow the top team or the team you like; you follow everyone to see the value picks, research, knowledge, chemistry for every player, and sports consumption goes through the roof and it’s not available 24×7.”
The IPL which was recently held in UAE was sponsored by Dream11, a fantasy gaming platform. It took the sponsorship rights for this year only after they paid half the amount of Vivo India in the tough circumstances.
Other platforms include My11Circle, MyTeam11 and Mobile Premier League (MPL) which are gaining popularity among the fans as well.
The companies raising a good amount of money. In September, Dream11 raised a staggering $225 million at a valuation of $2.5 billion, while Mobile Premier League raised $90 million.
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