World777, MyTeam11, My11Circle, Howzat, Halaplay, 11Wicket, MyFab11, MPL Fantasy Cricket, and Ballebaazi are some of the companies that compete in the oversaturated fantasy sports market that exists in India. An research conducted by FICCI and EY found that the value of the online gaming business in India was 6,500 crore in 2019, and it is anticipated that this value would increase to 18,700 crore by 2022. KPMG estimates that the Indian Premier League Fantasy League will generate a revenue of one billion dollars on its own.
In September of 2020, Dream11 was able to raise $225 million, whereas Mobile Premier League was only able to raise $90 million. World777, a subsidiary of Dangal Games, is now participating in the Indian Premier League, which will begin its 14th season on Friday.
World777, which controls the website world777 and the world777 app and had obtained $1 million in Series A investment, has long intended to get on the bandwagon, and the IPL seemed to be the ideal opportunity to do so.
What’s the plan? How is this gateway different from others?
We are a company that specializes in online fantasy gaming, and we now have two items that can be purchased by customers. Because of this, we now have more expertise working in the gaming sector. We are one of the market leaders thanks to our product, the diamond exchange id. We have long entertained the idea of exploring the financial potential of fantasy sports. It was also a logical next step for the firm to take, given that we want for our business to become one of the most successful online gaming businesses in the nation.
When it comes to gambling online for real money, fantasy sports constitute a significant portion of the market. As a direct consequence of this, the use of imagination has been and will continue to be an essential component of the strategy. We intended to show up at the proper place and time, bringing the suitable item with us.
This step is being made in order to assist the firm in expanding its operations. And entering a market that already has more than 100 million users and is projected to add another. 50 million in the next one and a half years. We anticipate that the industry of fantasy will have a big growth spurt in the near future. And I am of the opinion that the present moment is the right time for us to join. The market and begin seizing a portion of the market. We are of the opinion that the present moment is the most appropriate time to research the market.
How important is the Indian Premier League (IPL) for a fantasy gaming platform in India?
When seen from the perspective of the launch, the IPL is an essential component for world777. The intention has always been to launch the show around the beginning of the. Indian Premier League (IPL) in order to make the most of the excitement that is produced by this amazing sport. It’s an important step in the right direction for us. We are completely ready and stocked up for the introduction of the product. In addition, we are delighted to demonstrate our system to customers. And provide them with a sample of the goods and services we provide. This year is a very significant one for sports in general.
In addition to the incredible action in world777 cricket, there is also kabaddi. The Indian Super League, the World Test Championship, the India tour of England, the T20 World Cup, and the Ashes. The schedule for all of the athletic events is jam-packed.
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