The market for online games is booming thanks to technology. Now fantasy sports and online games aren’t just for entertainment purposes. Online games are platforms for displaying your skill set and using your knowledge to earn exciting rewards. Since the launch of the first video game in 1950, online gaming has not stopped growing.
Online gaming businesses around the world
In 2020, the global gaming market was approximately $ 62 million. According to statistics, the business will be worth $ 300 billion by 2026. Mobile games account for almost 50% of the stock market and generate revenue worth $ 80 billion. Online games are the family of streamliners, developers, publishers, gaming arenas, coaches and 2.5 billion users around the world.
Online gaming startups have grown in India in recent years and have attracted huge funding from domestic and foreign investors of over $ 1 million. The shares of gaming platforms are divided between the US and China equally at 24% each, in Asia-Pacific excluding China it is 23%, Latin America has 4%, Canada has 2 % and finally Europe, Africa and the Middle East have 23% of the shares.
Even after such great success and a large user base, the Indian government is not considering online gambling legal. In several states of India, fantasy sports are not allowed and are considered gambling. Pandemic has just doubled the growth of the online games and fantasy sports industry in India in terms of development of fantasy sports applications and fantasy sports application platforms.
The government should look at online games with an open mind and understand them in depth, rather than considering all online games, betting. The government can target betting and gambling, but it should avoid fantasy sports. However, fantasy sports can help the government generate great revenue and increase the country’s economy.
Types of online games
One of the most popular gaming platforms for sports fans. Online fantasy is completely different from other styles of play. The user creates his online team of real players playing on the field. User performance is completely dependent on the player and the actual game statistics.
IPL is the most loved Fantasy Sports format in India. In addition to playing games, many users religiously follow the score and live matches on fantasy sports platforms. It is not a game of chance; You need skills and knowledge of the game to play and earn rewards. “NITI Aayog” has published guidelines for playing fantasy sports. Users can play fantasy sports for free and for real money.
The fantasy sports industry is growing and the user base is increasing exponentially. Due to the participation of money and few cases on the fantasy platform, the government considered it as a gambling platform and does not consider it centrally legal. Online fantasy platforms follow all the rules of the Advertising Standards Council of India.
The government has asked state governments to issue guidelines for fantasy sports.
User base and income
The revenue generated by fantasy sports in 2020 is Rs 2,470 crore. 10 million people play fantasy sports in India and almost 80 million people watch the match.
Rummy is a very popular online card game with a large user base. Rummy is a game of skill; it requires memorizing the discarded card and the ability to calculate เว็บบอล the probability of winning the game. The player must be an enthusiastic observer and his entire play depends on undistributed cards. It can be played for free or for money. Victory and defeat in the game are up to the user.