IPL started in 2008. Cricket professionally went a step ahead. According to BCCI and Deloitte, the cricket economy in India is worth $5.3 billion in 2023. IPL enhanced the entertainment value of cricket. It also enhanced the cricked watching audience. The advertising revenue reached unprecedented level. Cricket has become a part of Indian culture. People are passionate about cricket.
Owing to smart phones and social media, the nature of entertainment in India has changed. People carry smartphones all the time. They are addicted to smartphones. The content makes secretion of dopamine in the brain. According to neuroscientists, there is stimulation of similar parts of brain while using a smartphone and while gambling. The part that is activated in the brain is called nucleus accumbency. The person gets into reward system. While playing fantasy sports, the quantum of dopamine in a person’s brain goes up by 400 per cent. It paves the way for addiction. The secretion while playing is four times more than the normal secretion. The runs made by a team’s player, when a wicket is taken or when the team become victorious — all this contributes to dopamine secretion.
Fantasy sports companies describe themselves as ‘games of skill’. It has been approved by SC in 2017. It has been taken away from betting games. Still some states have banned fantasy sports. There citizens play the game through VPN.
There are virtual of players on the platform. There is competition based on their real play. Indian fantasy sport is 4 % of global figure. The users of fantasy sports in India are 22.5 crore. They form 16 per cent of Indian population. Sixty percent of players show signs of addiction. Some 28 per cent admit they have lost money affecting their family life.
Whether it is a game of skill or game of digital gambling is the issue.
Fantasy sports started in India in 2001 along with ESPN’s Super Selector. Ravi Shastri organized this. The real expansion came in the wake of IPL’s start in 2008. Dream II was initiated in 2012. Initially, the focus was on cricket. Later, football, kabaddi, basketball were included. In the pandemic, the sport received a boost.
By 2023, Dream II, MPL, My II Circle, Fantasy Power II became popular apps. Dream II sponsored cricket team.
The revenue generated by fantasy sports in 2024 is Rs.9100 crore. It showed a CAGR of 30 per cent. The revenue declined later but will improve by 2026.
In an international game, people commit about Rs. 15000 crores, and double the amount in an IPL match.
The identity documents demanded are PAN card, Aadhar card. These companies spend Rs. 1000 crore on advertising. They give endorsement money to celebrities. Dream II got sponsorship rights of IPL team for Rs. 222 crores.
The government charges 28 per cent GST. It is a burden on these companies.
Fantasy sports activate three systems in the brain — dopamine reward system, cortex on account of uncertainty and amygdalae for social acceptance. It is called a ‘perfect storm’ in psychology.
A loser undergoes near-miss effect provoking him to play again.
The game is designed deliberately as ‘so very near but somewhat far off’. The user feels the next time the chance to win is bright.
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