The online gaming market is booming with technology. Fantasy sports and online games are no longer just for entertainment. Online gaming is a platform where you can showcase your skills and use your knowledge to earn exciting rewards. Since the first video games were released in 1950, online gaming hasn’t stopped growing.
Online gaming businesses worldwide
The global gaming market in 2020 was approximately 62 million. According to statistics, this business will be worth 300 billion by 2026. Mobile gaming accounts for nearly 50% of the stock market and generates 80 billion in revenue. Online gaming is a suite of streamliners, developers, publishers, gaming arenas, coaches, and 2.5 billion users worldwide.
Despite this huge success and large user base, the Indian government Valorant boosting is not legalizing online gaming. In many states in India, playing fantasy sports is not permitted and is considered gambling. The Pandemic has doubled the growth of India’s online gaming and fantasy sports industry in terms of fantasy sports app development and fantasy sports app platform.
The government should not only consider online games as gambling but should look at them with an open mind and understand them deeply. Governments may target gambling and gambling, but fantasy sports should be avoided. However, fantasy sports can help governments generate huge revenues and grow national economies.
Types of Online Games
fantasy sports
It is one of the most popular gaming platforms for sports fans. Online fantasy is completely different from other game styles. Users create online teams of real players playing on the ground. Your performance will depend entirely on the actual stats of the player and the game.
IPL is India’s most beloved fantasy sports format. Along with the gameplay, many users religiously follow scores and live matches on fantasy sports platforms. It’s not a game of chance. You need skill and knowledge of the game to play and get rewarded.
The fantasy sports industry is growing and the user base is growing exponentially. Since money is involved in fantasy platforms and there are few examples, governments consider them gambling platforms and do not consider them legal at a central level. The government has asked states to issue guidelines for fantasy sports.
User base and revenue
Revenue generated from fantasy sports in 2020 is Rs 2470 crore. In India, 10 million people play fantasy sports, and nearly 80 million watch games.
online rummy
Rummy is a very popular online card game with a huge user base. Rummy is a game of skill. It requires the ability to memorize the discarded cards and calculate the odds of winning the game. Players need to be keen observers, and every game depends on unsealed cards. You can play for free or for a fee. Winning or losing the game is up to you.
User base and revenue
According to a 2019 report, online rummy was valued at $335 million in the Indian market and will probably grow to $1.4 by 2024.
You are solely responsible for winning or losing the game.
esports
Also known as esports, which are games based on skill. Esports is played in video game format and is played in both online and offline modes. There are numerous tournaments played in esports. A number of electronic formats are live coverage of sports such as cricket, football and more.
