SBC News Voice of the Sports Betting Industry
Fantasy sport is making its mark in India, and Fandromeda have become the latest product to tap into this market with a World T20 Cricket Fantasy game.
Since its launch two weeks ago, Fandromeda has racked up over 30,000 free-to-play users, with a cash prize of over Rs.5 lakh when the World T20 tournament ends on 3 April.
In the qualifying stages there were 63,000 teams created, with numbers hovering around 3,000 to 4,000 entries per game. Then, when the World T20 main draw began, the game saw nearly 12,000 entries for the opening match on Tuesday.
Fandromeda is an independent product from Bengaluru-based TenTenTen, who conducted the official fantasy league for the last three editions of the Indian Premier league (IPL) and last year’s cricket World Cup in Australia and New Zealand.
Ramesh Srivats, Managing Director and CEO of TenTenTen, said: Over 25,000 people are currently playing this and nearly 3,000 private leagues have been created.
“The IPL saw around 1.5 million users over the three years, while during the World Cup, we saw nearly half a million users play our game. But the World T20 was ideal launch platform for the company.
“We want to first build our user base, and engage them with our product offerings. We are right now at over 30,000 and by the end of the tournament, our target is to reach 60,000-70,000 users.
Srivats insists that, whilst they will look to introduce a paid offering, the free games will always be there, and that Fandromeda will look to monetize through brand tie-ups.
By his own estimate, the fantasy sport market in India could be a $1 billion market in the next five years, with a customer base of around 20 million.
