The Federation of Indian Fantasy Sports (FIFS) shared some insights about Online Fantasy Sports Platforms (OFSP) via a press release.
It said that online fantasy sports platforms have become one of the primary sources of sports engagement for avid fans and matured users, primarily in the age group of 24 to 40 years. The average ticket size of participation in the pay-to-play format is usually as low as Rs.35/-
The federation cited IndiaTech’s findings that 80% of the OFSP users prefer to participate in the free-to-play format. Statistics demonstrate that 99.60% of users who participate in a fantasy sports contest have either won or lost less than Rs. 10,000/- net on an online fantasy sports platform in their lifetime.
“Since the results of fantasy sports contests are purely dependent on the outcome of the real sporting event, there is no simulation and user can only participate in a fantasy sports contest right before the match start time of a live sporting event,” FIFS said
FIFS mentioned that it has a defined Charter which outlines a framework within which the industry must function. The objective of the body is to ensure that accountability of the platforms and safeguards to both the participants and platforms are adequately defined and not violated.