Overview of India Fantasy Sports Industry, its Legality & GST

India fantasy sports industry has over sixty platforms, atꦑ present. These 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 fans are expected toꦓ takꦉe to one or more fantasy sports apps or platforms.

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

One of the reasons for the popularity of fantasyꦐ sports in India is the masဣs availability of mobile 4G network, which was initiated by Reliance Jio.

The fantasy Inꦐdia 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 Ventur🌳e Capital and Private Equity Investors.

One of the largest fantasy sports company in India is Dream11. It recently became a gaming Unicorn. This fantasy sports startup has Seri𝔉es 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⛦ their choice.

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– March 27, 2019, India Bet parent company invests in new🌸 fantasy sports star﷽tup Scoring11

India Fantasy sports & leagues

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

However, today, various fantasy sporܫts 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 play🌸ed through fantꦿasy 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 are not all🦄owed in a few states like Ass꧋am, Odisha and Telangana.

Re𝓀cently, 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 & Services Tax (GST).

Onꦗ 30th April, 2019, Bombay High Court judges Ranjit More and Bharati 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 Fantasy Pvt Ltd is not at all dependent on winning or losing of any p💛articular team in the real world gaꦬme. 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 cour𓃲t referred to Schedule III of the Central Goods and Services Act, 2017 w൲hich 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 fantasy sports does not amount to gambling as it requires a substantial degree ꧙of skill.

As there are no set laws for the industry, to ಞcreate an industry voice, H🐈arsh Jain, CEO and Co-founder 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 comes out with any rules and l𝓀aws.

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– February 11, 2019, TRS MP raises question on fan♛tasy sports legality; central govt says states can decide

Indian and global Fantasy League websites

Here are some fantasy sports websites 💛in India. One can play seasonal or 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 ꧙in India and the World to play fantasy cricket, fantasy football, Fantasy NBA, fantasy hockey, fantasy MLB, fantasy NFL, and other fantasy lea💧gues.

Some of the websites are Drea💞ꦚm11, Mobile Premier League (MPL), , Fanfight, Halaplay, , etc.

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– June 3, 2019, India Today Group launches new 🏅fantasy sports website Aaj Tak 11
– June 13, 2019, Kapil Dev launches new fantasy sp♔orts website Apne11
– May 3, 2019, 9stacks groupܫ en🔯tity launches new fantasy sports portal Faboom
– March 16, 2019, Dream11 par🔥tners with BCCI to become official fanta🐬sy 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🌟 play🍸ers and keep a count of their scores.

The game took shape i𓂃n Oakland with Wilfred “Bill” Win🥀kenbach 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 hockeജy website called Molson Breweries was launched. Yahoo began fantasy sports in 1999. The industry got a 𒀰push with the 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 w🔯eek of a sports’ season. Thꦐey 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.

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– May 21, 2019: Sourav Gangဣuly endorses fantasy sports website 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 i🌸ndustry is expected to have about 100 million users.

Dream1ဣ1 fantasy sports is one of the biggest players♏ in the market with about 90% of the market share.

Popul🧜ar fantasy sports games in India are cricket, football, baske💟tball, hockey, kabaddi, and badminton.

Fantasy industry standards in India are regulat🍬ed by Indiꦦan Federation of Sports Gaming, as there are no set government regulations.

Playing fantasy sports i🍬s considered as a game of skill by the Bombay and Punjab & Haryana High Courts; however, playing fan🌳tasy sports is not allowed in Indian states like Assam, Odisha and Telangana.

Read more about gambling laws in India.