Bhopal Lit Fest to have special session hosted by Fantasy Sports industry on Day-1

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    The Federation of Indian Fantasy Sports (FIFS) is hosting a Panel discussion at a special session on ‘Fantasy Sports: Facts and Fallacies,’ at the Bhopal Literature and Art Festival (BLF) to be held on Day-1 of the three-day festival starting Friday, 25th March 2022 at 7:20 pm.

    “It is the events like BLF that help deepen the understanding of the sense of community, trending topics, connect/network with people from various walks of life who engage, express their ideas through intellectual and thoughtful debates and dialogues,” said Anwar Shirpurwala, Chief Executive Officer (CEO), FIFS.

    For the uninitiated, fantasy sports are played on digital sports engagement platforms whereby users create virtual teams just before an upcoming real-life sporting event using their knowledge of the game, research and analytical skills for player selection and team creation. The users thereafter compete against other participants’ teams based on stats generated by the on-field players’ performance. For most, it is a fun activity with colleagues, friends and family.

    The sunrise industry of fantasy sports is distinct from other related online formats. It has already surpassed the United States of America (USA) as the largest fantasy sports market globally in terms of active user base. The rapidly growing sector is expected to cumulatively contribute over INR 24,300 crore in tax revenue and create more than 12,000 highly skilled and technical jobs. While it has already attracted over INR 10,000 crore in foreign direct investment (FDI), the fantasy sports industry in India has the potential to attract an additional INR 15,000 crore in FDI in the coming years.
    The FIFS, as the one and only national self-regulatory body for fantasy sports in India, aims to create a conducive environment for the growth of this industry by enforcing ethical and transparent practices across its member base.

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    The Session being hosted by FIFS at BLF will see a presentation followed by a panel discussion to be moderated by Anwar whereby he will seek views of veteran cricket administrator Professor Ratnakar Shetty, also advisor for FIFS, Mr Dinker Vashisht, Vice-President – Regulatory & Corporate Affairs, Mobile Premier League (MPL), Games24x7.

    The key topics of discussion would include:

    ● Difference between Games of Skill and Games of Chance
    ● Uniqueness of Fantasy Sports
    ● Role of Fantasy Sports in creating sporting culture in Madhya Pradesh
    ● Fantasy Sports Regulatory Landscape
    ● Digital revolution driving Fantasy Sports

    Almost half of the user transactions on fantasy sports platforms come through Tier I and Tier II cities countrywide, according to a recent FIFS-Deloitte joint report. In view of this, FIFS together with the fantasy sports industry is keen on working in tandem with the Government of Madhya Pradesh to devise laws that allow users to play Fantasy Sports across the state in an unimpeded manner. More so, as the sector has a major role to play in the economic growth and development considering the amount of revenue it can generate, create skilled jobs and attract FDI.