Overview of India Fantasy Sports Industry, its Legality & GST

India fantasy sports industry has over sixty platforms, at present. These pla꧃tforms 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 fans are expected to take to one or more fantasy spor💎ts apps or platforms.

As per the fant𓆉asy sports information offered by Indian Federation of Sports Gaming (IFSG), two out of three spoಞrts fans in India know of fantasy sports.

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

The fantasy Indi🧸a 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 Investors.

One of the largest fantasy sports company in In⛦⛦dia is Dream11. It recently became a gaming Unicorn. This fantasy sports startup has Series D funding and is backed by 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 join a fantasy league with a team of tღheir choice.

Related post:
– March 27, 2019, India Bet p💎arent company invests in new fꦛantasy sports startup Scoring11

India Fantasy sports & leagues

The Indian fantasy sports market picꦬked 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 popularity.

Even kabaddi, carrom and pool fantasy sports games can be played through fantasy sports 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 aไre not allowed in a few states like Assam, Odisha a🔥nd 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 also contended that Dream11 was allegedly evading Goods & S🔴ervices Tax (GST).

On 30th April, 2019, Bombay H🦩igh Court judges Ranjit More and Bharati Dangre rejected both the allegations made by Singh. They noted the fol🌠lowing:

“The petitioner has lost sight of the fact that the result of the fanta🍷sy game contest on the platform of Dream11 Fantasy 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’s format and fantasy sports gaming. “The court re🔥ferred 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 supply,” as reported in one of Glaws’ earlier articles.

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

As there are no set laws for the industry, to create an industry voice, Harsh Jain, CEO and Co-founder of Dream11, help🍌e﷽d 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 comes out with any rules and l🍬aws.

Related posts:
– February 11, 2019, TRS MP raises question on fantasy sport🌠s legality; central 𒈔govt says states can decide

Indian and global Fantasy League websites

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

Sports fans can engage with fantas🔯y sports games throu🐓gh the following popular platforms in India and the World to play fantasy cricket, fantasy football, Fantasy NBA, fantasy hockey, fantasy MLB, fantasy NFL, and other fantasy leagues.

Some of the websites are Dream𒀰11, Mobile Premier League (MPL), , Fanfight, Halaplay, , etc.

Related posts:
– June 3, 2019, India T﷽oday G✃roup launches new fantasy sports website Aaj Tak 11
– June 13, 2019, Kapil Dev launches new fantasy sports websౠite Apne11
– May 3, 2019, 9stacks group entity launc𒅌hes new fantasy sports portal Faboom
– March 16, 2019, Dream11 partners with BCCI to become official fantasy sports pa🎃rtner 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 f𝐆avourite players and keep a count of their scores.

ꦺThe game took shape in Oakland with Wilfred “Bill” Winkenbach starting Fantasy Golf in the late 1950s. He also made the first reported fantasy Football league in 19♛62.

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 launched. Yahoo began fantasy sports in 1999. The industry got a push with t꧒he Dot com boom.

Daily fantasy sports (or DFS) was 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 arꦆe run as contests.

These contests have an entry🍒 fee. Their org🔯anisers 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 sp🃏orts websit🌟e My11Circle

Conclusion (Fantasy sports India)

The fantasy sports India market is expected to reach $5 billion in the next two years. By the end of 2019, the industry is eꦰxpected to have about 100 million users.

Dream11 fantasy sports is one of the biggest play🌳ers in the market with about 90% of the market share.

Popular fantasy sports games in India are cricket, football, basketball, hockey, kabaddi, anℱd badminton.

F🔥antasy industry standa🉐rds 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 Telangana.

Read more about gambling laws in India.