Dream11 has emerged as one of the biggest brand names in the sporting history in the business of Online Fantasy sports. It started off with IPL in 2016, and today it is the Title Sponsor for IPL 2020. It has not only expanded itself in the market but also created a new business sphere of fantasy sports.
From 2 million users in 2016 to over 150 million users in 2020, India has seen a massive growth in the online fantasy sports sector. Till 2016, there were only a handful of companies operating fantasy leagues in India with the most dominant player, Dream 11, holding almost 90% market share.
But now there are so many companies in the Indian market like – Myteam11, Mycircle11, Mobile Premier League, Ballebaazi, WTF Sports, PaytmFirst Games etc. India is also counted as one of battlefield countries in terms of fantasy sports operators.
Currently, with so many leagues happening across the world, the fantasy sports app has a very lucrative way of leveraging their partnership. They directly partner with the leagues/associations, teams and players which give them advantage of expanding to international audience and at the same time making the brand global.
IPL, CPL, BBL are some of the hottest cricketing properties, whereas these sports brands are now looking at other sports also, such as MLB, NBA, Hockey, Football.
SportsMint has learnt from its reliable sources that, the gross revenue of online fantasy sports (OFS) operators including Dream11 trebled to ₹2,470 in FY20 versus ₹920 crore in the previous fiscal.
The fantasy sports market size is expected to reach more than $1.5 billion by 2024, growing at a CAGR of more than11% during 2018–2024.