PM supports ESports and Gaming for people to earn money during Pandemic

According to a recent report published by the Federation of Indian Fantasy Sports and international consulting firm KPMG, the Indian fantasy sports market has now grown to 90 million users.

Out of which 20 percent people also spend money to play fantasy games and one third people play on more than one platform.

According to a recent report published by the Federation of Indian Fantasy Sports and international consulting firm KPMG, the Indian fantasy sports market has now grown to 90 million users.

Out of which 20 percent people also spend money to play fantasy games and one third people play on more than one platform. According to the report, the number of users has seen a cumulative average growth rate (CAGR) of 212% in the last four years.

This growing pace of the online gaming industry has attracted the attention of the users as well as the young game makers and start ups. Because users in this area have been spending money to play games, the industry has quickly developed into a domestic industry consisting of new businessmen and new job gamers.

India’s domestic online gaming industry was estimated at $ 29 million in 2016. According to an estimate, the industry is expected to be $ 100 million by 2021 and by 2024 its value is estimated to be $ 370 million.
Actually, due to the coronavirus epidemic, people are at home and the number of users has increased considerably. This is a perfect time for this type of online industry.

In the recent past, this industry has been a major investment destination for investors. There are currently over 400 gaming start-ups currently operating in India. According to Data labs by Inc42plus, this startup has attracted around $ 448 million investment between 2014 and 2020.

These include, primarily, Tencent and Steadview Capital in Dream 11, Unicorn Spotter Sequoia India with Mobile Premier League (MPL) and One97 and AG Tech Holdings games with Times Internet and Paytm.

This growing number is indicative of India’s digital ecosystem. The wide range of online gaming is quite vast and full of possibilities. In fact, the general idea of ​​online gaming and gamification may still be another area to boost India’s digital economy, bolstered by cheap data and the will of a young society.

Professional players as well as gamers have made creative use of this new platform. VS Ratnavel, a master of chess at the age of 10, was struggling for sponsors to participate in the tournament on the global stage.

In July 2019, he participated in an online tournament on the MPL platform, won 253 chess games in a span of 12 hours and won a prize money of five lakh rupees.

Also Read : INDIA’S EDUCATION MINISTRY TO SUPPORT STUDENTS TO PURSUE ‘ONLINE GAMING’ AS A CAREER SOON