Fantasy sports or fantasy gaming platforms are a very unique idea in which the participants can guess the performance of their team XI and when in the real life match they perform as per the guess then the participants earns points. In some platform the participant gives some money with the predictions and if that comes true he collects more money back. But that is perceived as gambling and there have been some court rulings like that. At the same time some court rulings favour these fantasy games telling that they are a game of skills and do not fall under the gambling category. This game could be cricket or football or volleyball whatever is liked by the participant who is generally a fan of that game and has knowledge about the players participating and their capabilities based on the historical data. IPL was the main attraction for these game companies and due to the delay in it there is some setback.
These companies have already formed in the year 2017, a self regulating body called Federation of Indian Fantasy Sports (FIFS), to protect consumer interest and create best practices in the fantasy gaming industry. They had hired the consultant KPMG (a private reputed financial auditing company), which had predicted a growth of more than Rs 1,500 crores in one year. Right now Govt has no direct control on these gaming platforms except that if they do some gambling or related activities in online then Govt could nab them on that charge and close their operations and punish them. So, right now this is a big grey area.
Though in India IPL is the most followed activity as per the fan following but there are many other leagues in the world which are giving these gaming platforms to align themselves with these games or sports and then attract the fans or users for predictions or put some money on the prediction. Currently there are many other leagues which are being monitored by these gaming platforms for participation of the fans in these predicting and subsequently scoring or earning opportunities. Some of these are -
1. In Volleyball - (a) Russia Ural League (b) Men's League, Thailand.
2. Football - (a) Belarus Premier League (b) Tajikistan Higher League (c) Burundi Premier League.
3. Table Tennis - (a) Moscow Liga Pro (b) Setka Cup, Serbia (c) Nicaragua Premier League.
4. Snooker - (a) Armenian Snooker Cup (b) Table Tennis (c) Moscow Liga Pro (d) Setka Cup, Serbia.
The modus operandi of these online companies is being seen with doubt and caution by the Govt agencies but until a firm decision by the High Courts of the country or Supreme Court is given it is not possible to take action against them or bring them under some regulatory body. So right now they are proliferating and though the present Covid-19 situation has put some break on their progress but there is a very big inherent potential for their growth.
Knowledge is power.