The Rise of Fantasy Sports and Online Games
The online gaming market is booming with technology. Now, fantasy sports and online games are not limited to entertainment purposes. Online games are platforms showing your skillset and use your knowledge to win exciting rewards. Since the launch of the first gaming in 1950, the web game hasn't stopped growing.
Online Gaming Business Around the world
In the entire year 2020, the global gaming market was approximately $62 million. According to the statistics, the business enterprise will be worth $300 billion by 2026. Mobile gaming makes almost 50% of the share market and generates revenue worth $80 billion. Online gaming is the category of streamliners, developers, publishers, gaming arenas, coaches, and 2.5 billion users across the world.
The start-ups of online gaming have grown in India, within the last few years and attracted huge funding from both domestic and foreign investors of more than $ 1 million. The shares of gaming platforms are split between your US and China equally 24 % each, in the Asia-Pacific excluding China is 23%, Latin America has 4%, Canada has 2% and finally, Europe, Africa, and the center East holds 23 % of shares.
Even after such huge success and a large user base, the Indian government is not considering the online game legal. In various states of India, playing fantasy sports is not allowed and is considered gambling. Pandemic has just doubled the growth of the web games and fantasy sports industry in India regarding both fantasy sports app development & fantasy sports app platforms.
Government should look at online gaming having an open mind and understand it in-depth, instead of considering all online games, gambling. Government can target betting and gambling but should spare fantasy sports. However, fantasy sports can help the government to create huge revenue and raise the economy of the country.
Types of Online Gaming
Fantasy Sports
Just about the most popular gaming platforms for sports fans. Online fantasy is completely not the same as other gaming styles. An individual creates their team online of real players playing out there on the ground. newplay88 depends on the player and real-life statistics of the game.
IPL may be the most beloved format of Fantasy Sports in India. Along with playing the overall game, many users religiously follow the score and live matches on the fantasy Sports platforms. It isn't a game of chance; you will need skills and understanding of the overall game to play and win rewards. "NITI Aayog" has released guidelines to play fantasy sports. Users can play fantasy sports for free and real money.
The fantasy sports industry is growing and the user base is increasing exponentially. Due to the involvement of money and few cases on the fantasy platform, the government considered it as a gambling platform and doesn't contemplate it legal on the central level. The web fantasy platforms follow all the rules of the Advertising Standards Council of India.
