Overview of India Fantasy Sports Industry, its Legality & GST

India fantasy sports𓂃 industry has over sixty platforms, at present. T🍸hese platforms are catering to about 20 million fantasy sports players in India, as per an IFSG-KPMG report.

By the end of 2019, over 100 million sports fꦜans are expected to take to one or more fantasy sports apps or platforms.

As per the fantasy sports information offered by Indian Federation of Sports Gaming (IFSG), two out of tꦍhree sports fans in I🌃ndia know of fantasy sports.

One of the reasons for the popularity of fantasy sportsꦦ in India is the mass availability of mobile 4G network, which was initiated by Reliance Jio.

The fantasy India market is expected to reach over $5 billion in the next two years. This industry is not only attracting customers, but is also very popular among Venture Capital and Private Equity Inves🅷tors.

One of the largest fantasy sports company in India is Dream11. It recently became a gaming Un🌼icorn. This fantasy sports startup has Series D funding and is backed b🦋y Chinese internet giant Tencent.

Dream11 achieved unicorn status and is currently valued at over $1.1 billion after investment firm Steadview Capital invested in it.

To play fantasy sports, one can choose from any of the popular fantasy sports websites, and jꦬoin a fantasy league with a team o⛎f their choice.

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– March 27, 2019, India Bet parent company invests in new fan🥀tasy sports startup Scoring11

India Fantasy sports & leagues

The Indian fantasy sports market picked up with🐽 the launch of India fantasy cricket games and apps during Indian Premier League (IPL) in 2008.

However, today, various ♒fantasy sports games are offered through different platforms. Most popular fantasy sports are cricket, football, basketball, hockey, and badminton.

In India, Fantasy cricket league has gained a lot of po🏅pularity.

Even kabaddi, carrom and pool fantasy sports games can be played through fantasy sꦏports apps. Other games include Formula 1,🌱 rugby, golf, volleyball, tennis and squash.

Legality of Fantasy Sports in India and GST Applicable

As per🗹 the Indian law, Fantasy sports are not allowed in a few states like Assam, Odisha and Telangana.

Recently, a petition was filed by a Mumbai-resident, Gurdeep Singh Sachar–fantasy sports are luring people to gamble their hard earned money and, hence, are a form of gambling. He 𓂃also contended that Dream11 was allegedly evading Goods & Services Tax (GST).

On 30th April, 2019, Bombay High Court judges Ranjit More and Bha💟rati Dangre rejected both the allegations made by Singh. They noted the following:

“The petitioner has lost sight of the fact that the result of 🀅the fantasy game contest on the platform of Dream11 Fan🌼tasy Pvt Ltd is not at all dependent on winning or losing of any particular team in the real world game. Thus, no betting or gambling is involved in their fantasy games.”

Bombay High Court judges Ranjit More and Bharati Dangre

As per the ruling, 18% GST is applicable ♔for Dream11’ꦅs format and fantasy sports gaming. “The court referred to Schedule III of the Central Goods and Services Act, 2017 which states that ‘actionable claims, other than lottery, gambling and betting’ are excluded from the scope of suppl🍨y,” as reported in🤪 one of Glaws’ earlier articles.

Earlier, on 18th April, 2017, the Punjab and Haryana High Court also ruled that playing online fantasy sports does not amount ✃to gambling as it requires a substantial degree of skill.

As there are no set laws for the industry, to create 🐻an industry voice, Harsh Jain, CEO and Co-fཧounder of Dream11, helped set up Indian Federation of Sports Gaming (IFSG) in 2017.

The federation sets up self-regulation standards for the fantasy sports industry in India till the government come💛s out with any rules and laws.

Related posts:
– February 11, 2019, TRS MP rai🐠ses question on fantasy sports legality; central govt says states can de♑cide

Indian and global Fantasy League websites

Here are some fantasy sports websites in India. One can play seasonal orꩲ daily fantasy sports on these websites or predict the results of various games and leagues.

Sports fans can engage with fantasy sports games through the following popular platforms in India and the World to play fantasy cricket, fantasy football, Fantasy NBA, fantasy hockey, fantas๊y MLB, fantasy NFL, and other fantasy leagues.

Somღe of𝓀 the websites are Dream11, Mobile Premier League (MPL), , Fanfight, Halaplay, , etc.

Related posts:
– June 3, 2019, In⛄dia Today Group launches new fantasy sports website Aaj Tak 11
– June 13, 2019, ♑Kapil Dev launches new fantasy spꦍorts website Apne11
– May 3, 2019, 9stacks group entity launches new fantasy sports portal F꧙aboom
– March 16, 2019, Dream11 partners wꦆith BCCI to become official fantasy sports partner of IPL

Fantasy sports history

The concept of fantasy💜 sports has been around since shortly after World War II, when sports enthusiasts would select their favourite players and ke🦋ep a count of their scores.

The 𒈔game took shape in Oakland with Wilfred “Bill” Winkenb🌳ach starting Fantasy Golf in the late 1950s. He also made the first reported fantasy Football league in 1962.

The first fantasy baseball league that was reported was held in Boston in 1960. The idea of fantasy sports grew with Rotisserie League Baseball in 1980, the book ‘Patton’s 1989 Fantasy Baseball League Price Guide’, Fantasy Football Index (annual guide) in 1987, Fantasy Sports Magazine in1989, and Fantasy Sports Trade Association in 1998.

In 1995, a fantasy hockey website called Molson Breweries was launchedꦗ. Yahoo began fantasy sports in 1999. The industry got a push with🐻 the Dot com boom.

Daily fantasy sports (or DFS) wa♍s launched with Fantasy Sports Live in 2007. DFSs are played over shorter periods of time, e.g. a day or a week of a sports’ season. They are run as contests.

These contests have an entry fee. Their organisers charge an organising fee and announce prize pools for the contests. For example, ♏Dream11 charges 15% or more organising/service fee for contests.

Related post:
– May 21, 2019: Sourav Ganguly endorses fantasy sports we♉bsite My11Circle

Conclusion (Fantasy sports India)

The fanta꧃sy sports India market is expected to reach $5 billion in the next two years. By the end of 2019, the industry is expecte🍨d to have about 100 million users.

Dream11 fantasy spor𝕴ts is🌜 one of the biggest players in the market with about 90% of the market share.

Popular fantasy sports games in Indiℱa are cricket, football, basketball, hock🦩ey, kabaddi, and badminton.

Fantasy industry standards in India are regulated by Indian Federation of Sports Gaming, as there are🌟 no set government regulations.

Playing fantasy sports is considered as a game of skill by the Bombay and Punjab & Haryana High Courts; however, playing fantasy sports is not allowed in Indian states like Assam, Odisha and Telangan꧅a.

Read more about gambling laws in India.