The Rise of Fantasy Sports and Online Games

The online gaming market is booming with technology. Now, fantasy sports and online games are not only for entertainment purposes. Online flash games are platforms to show your skillset and use your knowledge to win exciting rewards. Since the launch of the initial gaming in 1950, the web game hasn't stopped growing.

https://newplay88-net.biz/ Gaming Business Across the World

In the entire year 2020, the global gaming market was approximately $62 million. As per the statistics, the business enterprise will be worth $300 billion by 2026. Mobile gaming makes almost 50% of the share market and generates revenue worth $80 billion. Online gaming may be the category of streamliners, developers, publishers, gaming arenas, coaches, and 2.5 billion users across the world.

The start-ups of online gaming have become in India, in the last couple of years and attracted huge funding from both domestic and foreign investors greater than $ 1 million. The shares of gaming platforms are split between the US and China equally 24 % each, in the Asia-Pacific excluding China is 23%, Latin America has 4%, Canada has 2% and lastly, Europe, Africa, and the center East holds 23 % of shares.

Even with such huge success and a big user base, the Indian government is not considering the video game legal. In various states of India, playing fantasy sports isn't allowed and is known as gambling. Pandemic has just doubled the growth of the online games and fantasy sports industry in India in terms of both fantasy sports app development & fantasy sports app platforms.

Government should look at online gaming with an open mind and understand it in-depth, instead of considering all online flash games, gambling. Government can target betting and gambling but should spare fantasy sports. However, fantasy sports can help the government to generate huge revenue and raise the economy of the country.

Forms of Online Gaming

Fantasy Sports
Just about the most popular gaming platforms for sports fans. Online fantasy is totally not the same as other gaming styles. An individual creates their team online of real players playing on the market on the ground. The user's performance completely depends upon the player and real-life statistics of the overall game.
IPL is the most beloved format of Fantasy Sports in India. Alongside playing the game, many users religiously follow the score and live matches on the fantasy Sports platforms. It is not a casino game of chance; you will need skills and understanding of the game to play and win rewards. "NITI Aayog" has released guidelines to play fantasy sports. Users can play fantasy sports for free and real money.

The fantasy sports industry is growing and the user base is increasing exponentially. Due to the involvement of money and few cases on the fantasy platform, the government considered it as a gambling platform and doesn't contemplate it legal on the central level. The online fantasy platforms follow all of the rules of the Advertising Standards Council of India.

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Pub: 01 Jun 2023 15:26 UTC
Views: 125