Online Fantasy Gaming is an extension of actual sporting events- virtually! The modern schedule and time bound jobs often stand as a barrier between sports enthusiasts and their favourite games. The need to be engaged with the favourite sport is one of the major reasons why the online gaming industry has been experiencing a steady boom.
The basic idea is similar to the field game, just that a gamer acts as the owner/selector of a team and not as a player. He needs to select the required number of players from the pool on the basis of:
After registering into an Online Fantasy Gaming platform, a gamer is presented with free credits within which he has to select his team. Upon selecting his team, the gamer is prompted to mark the Captain and the Vice-Captain. LYVESports additionally asks the user to select a Man of the Match. All of these act as multipliers to the aggregate score.
Research says that the online gaming industry is thriving on the fact that sports enthusiasts find the exhilaration of live action through virtual reality. The format actually plays with a gamer's mind and gives him the feel of a selector/owner of a team and with every game, his/her analytical skills gets the better of itself. Other than that, Fantasy Sports have also fostered the growth of communities where gamers come together and share winning inputs. .
The history of Online Fantasy Sports (LIVE URL of this page) dates back to 1980s in the US. Fantasy Sports came to India only in 2001 but saw its boom between 2016 - 2019. However, the concept was introduced to the Indian market in 2001 by Joy Bhattacharya. His super formula proved to be an immense hit during the World Cup of 2003.
Apprehensions about the legality of Fantasy Sports finally ended in 2018 when the court of law declared Fantasy Sports as a game of skill. This declaration fostered rapid growth in the field of online games. And as per a report by Indian Federation of Sports Gaming and KPMG, the online gaming industry in India is already worth INR 43.8 billion and is said to reach INR 118.8 billion by FY23 with a growth rate of CAGR 22.1%. The report also mentioned, "74 per cent users play fantasy sports one to three times a week, with the majority playing once a week. Twenty per cent of respondents reported playing more than five times a week."