Fantasy sports' revenue is likely to grow over three-fold to Rs 25,240 crore by the fiscal year 2027 (FY27), a joint report by the Federation of Indian Fantasy Sports and Deloitte India said on Tuesday.
The report claimed that India is the fastest-growing FS (fantasy sports) market in the world with over 300 fantasy sports platforms (FSPs) and 18 crore users.
"The industry grew by 31 per cent to Rs 6,800 crore in FY22. It is expected to touch Rs 25,240 crore by FY27," the report said.
It further revealed that the FS industry attracted Rs 15,000 crore in FDI (foreign direct investments) till FY22, which is likely to touch Rs 25,000 crore by FY27.
Additionally, the report claimed that the FS industry contributed Rs 4,500 crore by the way of taxes and is expected to reach Rs 26,000 crore in the next 5 years.
"GST contributions from the fantasy sports industry are expected to increase by five times in the next five years, from Rs 2,800 crore in FY18-FY22 to Rs 14,700 crore between FY23 and FY27," the report said.