More money is flooding into the growing Indian fantasy sports market. Sports Gaming UK, the parent company of free-to-play betting operator India Bet, has invested in PlaySafe Games Pvt. Ltd., the operator of fantasy gaming site Scoring11.
According to reports from GLaws.in, with the investment, Sports Gaming now owns 20% of PlaySafe. India Bet Head of Operations Harshit Mehta owns the remaining 80%.
This isn’t the only news for Scoring11. It’s also secured a white-label platform from Norwegian B2B fantasy sports provider Scout Gaming, making it the third company to secure such a solution. Mehta commented on the news, saying:
“We see how fantasy Sports has had a strong growth in the country in the last couple of years. With players like Dream11 who are extremely popular at the forefront, we have explored the possibilities of expanding our value chain to operator business focusing exclusively on fantasy sports.”
Mehta isn’t kidding about the explosive growth of the market either. At the recent ASEAN Gaming Summit 2019, several experts commented on the success of the fantasy sports product on the subcontinent. It’s succeeding on the local love of cricket, largely, along with a market that has yet to experience a more traditional sports betting product. They wondered if poker could follow a similar path to achieve the same success.
Andreas Ternström, CEO of Scout Gaming, also commented on the new relationship, keying in on what makes this market special. He said, “Cricket is a huge sport locally and I am excited about continuing to grow the liquidity network we have established. Further on this means larger prize pools and a more attractive product.”
In a market that is primed to see exploding growth, the various players involved with this deal can expect to see big returns in not too long. Assuming India continues to take its time with better regulating the market, fantasy sports are one of the few acceptable products they can offer. As one of the early white listed products, Scoring11 can capitalize early, and make Sports Gaming a fortune on their investment.
